SOURCE: Graystone Park Enterprises, Inc.

August 30, 2005 11:27 ET

Graystone Park Enterprises, Inc. to Acquire Real Estate Holding Company

ORLANDO, FL -- (MARKET WIRE) -- August 30, 2005 -- Graystone Park Enterprises Inc. (OTC: GPKE) announced today that it is formalizing plans to acquire a real estate holding company. This will allow Graystone to capitalize on its many relationships with Real Estate Brokerages, Brokers, Agents, Mortgage Brokers, Mortgage Lenders, Appraisers, Home Inspectors and other industry professionals.

GPKE will seek to locate undervalued real estate (commercial & residential) with little or no cash down payments. Once acquired, GPKE's real estate holdings will be either leased, sold, refurbished, or developed. One of GPKE's primary goals will be to acquire real estate which will substantially appreciate in value and from which the company can realize a substantial gain from the sale of the property.

"This move is a logical progression towards our ever constant goal of increasing shareholder value," said Shane Jones, Director of Graystone. He went on to say, "As we acquire companies and now look to acquire properties, not only will GPKE have equity positions but this will also add HARD ASSETS that will back the company financials."

Graystone Park Ent. (GPKE) has already acquired 2 wholly owned subsidiaries: Gray Publishing & Media Inc., and IC Places, Inc.,

About Graystone Park Enterprises, Inc.

Graystone Park Enterprises, Inc. was founded to assist the small-business entrepreneur in growing his company and reducing the pitfalls that normally stall a start-up company. Graystone plans on acquiring middle-stage companies in need of assistance to dramatically increase its market share. Graystone projects to acquire 5-10 companies in 2005, and an additional 8-12 companies in 2006. Graystone will maintain a substantial percentage of each subsidiary company after the subsidiary begins trading under its own symbol. Graystone expects its revenues, and the value of its equity positions to be in the double digit millions by the end of this year. With Graystone's projected aggressive growth in revenues and asset ownership, it is expecting to be AMEX qualified in 2006. GPKE has the knowledge and expertise to take many growth companies to the next level. In doing so, it is able to capitalize on various markets to maximize return on its investment. The GPKE dividend distribution plan puts an emphasis on bolstering shareholder value.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Graystone Park Enterprises, Inc. and may differ materially from these statements due to a number of factors. Graystone Park Enterprises, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making any investment decisions.

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