IC Places.com Launches Proprietary Rental Car Reservation System;

Allows Visitors Direct Access to Several Rental Car Companies at One Time

ORLANDO, FL — (MARKET WIRE) — 07/27/2005 — IC Places, Inc., a wholly owned subsidiary of Graystone Park Enterprises Inc. (OTC: GPKE), announced today that it has finished Beta Testing and has launched its proprietary Rental Car Reservation System. The system created by IC Places programmers in cooperation with rental car companies allows visitors to comparison shop several rental car companies’ live databases at one time. The results are displayed in order of price. Site visitors can secure a reservation online directly from the inventory of the rental car company of their choosing without having to shop several different web sites. The System allows visitors to find the best value for their travel dollar.

Mark Hammer, director of Business Development for IC Places and Co-founder of Unofficial U, stated, “The creation of the system began in response to a 2004 Harris Poll stating that one of the top factors determining web site loyalty for travelers was the ability to comparison shop. Unlike the IC Places rental car system, many sites use dummy or sampling inventories in their reservation systems. Also with other car rental web sites, when a renter arrives to pick up their car they find the price and model may not be what they expected. With the IC Places system, visitors search actual databases of rental car companies. When they make a reservation the car is taken out of inventory for that time period and awaits the client’s arrival.”

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.

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 much 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 web sites targeting the 35-54 age groups. 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.

Looking to the future

In October of 2005 IC Places plans to launch an Independent Travel Consultant (ITC) program where-by individuals with an entrepreneurial sprit can own their own home-based travel business for a small one-time fee. The ITC program is web-based. The program is self paced environment to allow success for both full-time and part-time Consultants.

The IC Places Difference

With more online travel companies trying to be everything to everybody in the world and using call centers staffed by people on the other side of the world, IC Places is stepping up to change the game. All IC Places web sites have a very distinct target market that is divided up by location and demographics. This means that if a client wants to travel to Walt Disney World in Orlando, Florida, they will visit www.icdiz.com, a singular site dedicated to the Disney area. Upon launch of the ITC program in October of 2005, visitors will even be able to phone IC Places and speak to a Travel Consultant that lives in the Disney area. These ITCs are real people that live and breathe the cities they live in.

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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