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Graystone Park Enterprises, Inc. Subsidiary Signs Two New Agreements; Online Rental Car Fleets Grow to Over 167,000 Vehicles
8/15/05
ORLANDO, FL, Aug 15, 2005 (MARKET WIRE via COMTEX) --

IC Places, Inc. a wholly owned subsidiary of Graystone Park Enterprises Inc. (OTC: GPKE) announced today that it has signed agreements to add two more rental car companies to its proprietary Car Rental Reservation System. The newly signed companies are ACE Rent-A-Car, headquartered in Indianapolis and Fox Rent-A-Car of L.A. The two new partnerships increase IC Places Rental Car offerings to over 167,000 vehicles. Vehicles will be available at all IC Places web sites now and through the Company's launch of the Independent Travel Consultant Network later this year.

"We are excited to be included in IC Places' innovative new group of web sites," stated Joe Knight, Vice President of Business Development for Fox. Knight continues, "The IC Places sites will support our continued expansion into web site platforms that reflect our aggressive marketing efforts to reach new customers and drive more business through a compatible business portal."

Most online travel companies use call centers staffed by people on the other side of the planet: IC Places is changing the game!

The Independent Travel Consultant (ITC) program uses a virtual call center staffed by people in each city that it represents. Upon launch of the ITC program, visitors will phone a main number and be transferred to an ITC that lives in the city they are interested in traveling to. For example, when a client wants to travel to New York City, he or she will speak to an Independent Travel Consultant (ITC) in New York City that has personal knowledge of everything from restaurants to the best place to hold a wedding.

"We are very impressed with IC Places' plans for using ITCs and a virtual call center that emphasizes highly motivated agents with a wealth of local knowledge. In today's world of dysfunctional outsourced call centers, we think IC Places is on to something very big and we are excited to be involved from the outset," remarked Richard Radzis, President of ACE Rent a Car.

IC PLACES IS TAKING PRE-REGISTRATIONS FOR CITIES AROUND THE WORLD!

IC Places will allow limited Independent Travel Consultants in each city that it covers. The ITC program will allow individuals with an entrepreneurial spirit the ability to own a home-based travel business for a small one time fee. Anyone interested in adding their name to the pre-registration list can do so by visiting www.icOrlando.com and clicking on ITC Pre-Registration. All ITC virtual offices will be on a 1st come - 1st served basis. Pre-registering guarantees you an ITC slot in the city you live in. Positions are limited.

About Ace

ACE Rent A Car has had over 6 million satisfied renters and counting. The company has had the same ownership for 35 years, making it one of the most established in the industry. With so much of the travel industry based online, the company's core momentum is as a technology company dedicated to developing, deploying, and supporting solutions that empower ACE affiliates and chaincode partners to compete successfully with the major RAC chains.

About Fox

Fox Rent-A-Car is a discount car rental company and has been providing excellent customer service and discounted rental rates since 1989. Fox and their rental company affiliate locations are conveniently located at major airports around the world, currently proving service in the United States, Canada, Mexico, Europe, New Zeland, South America and Guam. The most telling sign of the company's commitment to the consumer is in the number, over 60-70% of Fox business is from repeat customers.

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.

Contact: Eddie Spade President Graystone Park Enterprises, Inc. 561-249-4140 x 103 mailto:[e-mail] www.GPKE.com Contact: Steven Samblis IC Places, Inc. 866-875-0724 mailto:[e-mail] www.IcPlaces.com

SOURCE: Graystone Park Enterprises, Inc.

http://www.GPKE.com http://www.IcPlaces.com
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