Graystone Park Enterprises Inc. Updates Shareholders on Activities

Graystone Park Enterprises Inc. (OTC: GPKE) reports today on the company's current course of work, past achievements and future plans. Mr. Spade, Graystone's President, reports on the activities of the company since inception in March of 2005.

The first acquisition of Graystone Park Enterprises was that of Gray Publishing and Media. GPKE was very instrumental in the re-release of Gray Publishing's product line Casebriefs(TM) (www.ecasebriefs.com) in the first quarter of 2005. The Casebriefs(TM) product line consists of study guide applications geared to assist the first year law student with explanations and analysis of those issues presented in the first year curriculum. By the fourth quarter of 2005, the Casebriefs(TM) product line became the most popular and the largest selling digital study aid content to the nation's first year law student population.

In 2005 Graystone also acquired IC Places, Inc (www.icPlaces.com). Since the acquisition Graystone has helped the growth of IC Places, taking it from 50 to 400 City based web sites used by both travelers and local individuals. GPKE has been very instrumental in the acquisition of the IT Firm "BridgerWeb" (www.Bridgerweb.com) of Bozeman, Montana and the acquisition of "Vacations of the Future," a twenty-year-old travel company. The flagship IC Places site is www.icOrlando.com. Graystone has also provided assistance with the recent signing of Multi Platinum Selling Producer Brad Daymond, Acclaimed Photographer Brian B. Hayes, and Celebrity Spokesperson Lisa Gleave.

Graystone Park Enterprises, Inc. has been in talks with several different companies that desire to become part of GPKE's pipeline of private companies looking to become a publicly traded company. All decisions will be made after GPKE's management is through conducting a complete Due Diligence of the company and its officers.

Graystone ended the year 2005 by rewarding its shareholders with the first of many planned dividends to be paid out to GPKE shareholders. Graystone Park distributed 1 share of IC Places, Inc. for every one share of GPKE that was owned as of the record date. Early in 2006 IC Places will file to obtain its own symbol to trade under.

GPKE's business plan is to follow this process through with many companies including Gray Publishing & Media (www.ecasebriefs.com). Gray Publishing is preparing to commence publishing study aid content for the remaining two years of law school. Once completed, the Casebriefs product line will contain the most comprehensive and exhaustive list of digitally published law study aid content.

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 77,000 hotels, 12,700 restaurants, 6,000 Golf Courses, Discount event tickets, Discount Car Rentals, Discount Airfare, Attraction tickets and much more.

IC Places has created four distinct demographic groups of sites. The main group, www.icplaces.com (the namesake of the company) includes 341 City based sites targeting the 35-54 age group. The premiere site is www.icOrlando.com covering Orlando Florida and the Disney area. The three following groups of sites will be launched in mid 2006 and will cover college kids, retired travelers and the people just graduating college and experiencing life for the first time. Upon full launch the IC Places network will own and operate over 600 international web sites.

About Graystone Park Enterprises, Inc.

Graystone Park Enterprises, Inc.(www.GPKE.com) 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 healthy fledgling companies in need of assistance to dramatically increase its market share. GPKE projects to acquire 6-10 companies in 2006.

Graystone will maintain a percentage of each subsidiary company. With Graystone's projected aggressive growth in revenues and asset ownership, it is expecting to reach AMEX qualifications. 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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