SOURCE: Graystone Park Enterprises, Inc.

August 04, 2005 06:30 ET

Graystone Park Enterprises, Inc.'s Subsidiary Signs Deal to Offer Online Reservations With 490 Airlines, Representing 95% of All Global Bookable Airline Seats

ORLANDO, FL -- (MARKET WIRE) -- August 4, 2005 -- IC Places, Inc., a wholly owned subsidiary of Graystone Park Enterprises Inc. (OTC: GPKE), announced today that it has signed a Partnership agreement with The Halomar Corporation to offer online Airline Reservation for all IC Places web sites. Through the partnership, IC Places offers a complete resource for clients booking airfare online. IC Places has launched the Halomar Airline reservation system at www.icdiz.com (IC Places flagship website). All other IC Places sites will be fully integrated within two weeks.

Direct connection to a leading information technology company

Halomar technology lets IC Places integrate with Amadeus, a leading information technology company, which provides marketing and distribution services to the travel industry worldwide. Amadeus enables IC Places visitors' access to 490 airlines, representing more than 95% of international scheduled airline seats.

Amadeus was founded in 1987 and is a publicly quoted company (since 1999) on the Madrid stock exchange. The three founding shareholders currently hold 59.92% of the company: Air France (23.36%), Iberia (18.28%) and Lufthansa (18.28%). The remaining shares are held publicly.

Proprietary Rental Car Reservation System

IC Places recently announced that Beta Testing is complete and its proprietary Rental Car Reservation System has been launched. IC Places currently has contracts with Dollar Rental Car and Thrifty Rental Car, two of the biggest rental car companies in the United States. The company plans to add at least five other rental car companies by the end of 2005 and is currently reviewing companies to add to the database.

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.

About IC Places, Inc.

IC Places owns and operates a network of city-based web sites that are used by both travelers and local individuals. The sites offer 11,000 hotels, 2,700 restaurant, 2,000 golf courses, discount event tickets, discount car rentals, discount airfare, attraction tickets and more.

IC Places has created four distinct demographic groups of web sites. Currently, two of these groups have been launched. The first group is UnofficialU.com, aimed at college students, aged 18-24, nationwide and specifically targeting the top 50 colleges in North America. The vision of Unofficial U is to entertain and inform college students, along with providing great travel packages for spring break and summer vacation. The premiere Unofficial U web site is www.unofficialu.com/OHIOSTATE for students on the campus of Ohio State.

The second web site is www.icplaces.com (the namesake of the company). This web site includes 150 city-based websites targeting the 35-54 age group. The premiere icplaces.com web site is www.icdiz.com covering Orlando, Florida, and the Disney area.

The two final groups of sites which will be launched in September of 2006 will cover retired travelers aged 65 and up, and the final site will focus on the recent college graduates aged 25-34. Upon full launch, the IC Places network will own and operate 400 web sites.

About Halomar

The Halomar Corporation dba The Target Companies. For more the 25 years, since 1978, The Target Companies have been providing excellent customer service to thousands of travelers, including skiers, golfers and many others. We have taken care of travel and accommodations for US Federal Agencies during the Olympics. We've provided white glove service to numerous corporations and their VIP clients as they travel to destinations & events all over the world. We pride ourselves on giving this same top notch customer service to a family of four traveling to your resort.

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.

Contact Information

  • Contact:
    Eddie Spade
    President
    Graystone Park Enterprises, Inc.
    561-249-4140 x 103
    Email Contact
    www.gpke.com

    Contact:
    Shawn Conti
    President
    IC Places, Inc.
    866-875-0724