Great American Family Parks Signs Agreement to Close Its First Major Theme Park - Will Add $2 Million to Annual Revenues With Strong Profits - BOISE, Idaho, Dec. 1 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC:GFAM) is pleased to announce the signing of the final contract for the acquisition of Wild Animal Safari in Pine Mountain, GA, the Company's first theme park. Pending completion of the terms, the scheduled closing is February 1, 2005. Dr. Larry Eastland, President of Great American Family Parks, stated, "We are tremendously excited about the contract for our first park acquisition. GFAM will be acquiring this park because it meets our strict criteria of selecting small to medium-sized parks that bring experienced management, solid revenues and strong profits to our Company. With revenues and EBITDA of approximately $2 million and $900,000 respectively, Wild Animal Safari is a profitable park that has displayed an excellent growth pattern over its 13 1/2 year operating history. We project the park will have an ROI of between 18-22% beginning in 2005." Dale Van Voorhis, CPA, President and CEO of GFAM Management Corporation, GFAM's park management company, will integrate and guide Wild Animal Safari's operational and future growth strategies. For more than a decade, Mr. Van Voorhis had served as president and CEO of Funtime Parks, a $60 million amusement company. During his tenure at Funtime, Mr. Van Voorhis directed the company's initial and secondary public offerings, orchestrated a number of successful park acquisitions, and eventually led the management buyout of the Company in 1987. Dr. Eastland continued, "GFAM is envisioned as a family-centric company with positive values and unique entertainment offerings. The acquisition of Wild Animal Safari will represent a significant step in fulfilling that vision. Our management team has a high level experience and enthusiasm to create a park environment that will continue to attract an increasing number of visitors, while expanding profitability." Ron Snider, stated, "Wild Animal Safari is one of the few animal parks in the U.S. that offers families unique, interactive experiences with exotic animals in their natural environment. We are proud to be joining Great American Family Parks. We are open for business throughout the year and have continued to see profits increase over the years. Wild Animal Safari will give GFAM access to a very large market area, where it can now leverage significant opportunities for expansion to strengthen thriving operations." Driven by their vision and love of animals, Ron Snider and his wife, Vivian, founded Wild Animal Safari over 13 1/2 years ago. The 500-acre park contains hundreds of animals, providing one of world's most unique educational and entertaining experiences for its visitors. The park's jungle of spellbinding animals comes from around the globe, including Africa, India, Australia, Europe, South America as well as from North America. Unlike a zoo, where animals are confined in small, man-made quarters, most of the animals at the park roam freely throughout its countryside, socializing, grazing and watering as they would in their original environments. Wild Animal Safari is located within an easily accessible one-hour drive time from Atlanta. Macon, Albany and Columbus, Georgia, as well as Montgomery, Birmingham and Auburn, Alabama, are all within a "day trip" to the Park. For more information, visit http://www.animalsafari.com/. About Great American Family Parks Great American Family Parks is focused on buying and managing profitable regional theme parks and themed amusement attractions in the United States. By building a family of parks each with between 300,000 to 1 million annual attendees, GFAM is in the process of developing a series of compatible, yet distinct entertainment and amusement products, including themed amusement parks, associated products, food and beverage, and multimedia offerings. Regional theme parks are a relatively recession-proof growth market. The market for U.S. theme and amusement parks is expected to grow at a compound annual growth rate (CAGR) of 3.4% to $11.7 billion by 2007. Nationwide, regional park attendance is projected to increase at a CAGR of 1.8%, to bring collective attendance to 263.8 million by 2007. Overall revenues for America's regional theme parks is expected to total $8.31 billion within five years. For more information, visit http://www.weloveparks.com/. Investors should visit http://www.otcfn.com/gfam. For more information, please contact Rick McCaffrey, Investor Relations, OTC Financial Network, 781-444-6100, ext. 625, . Also visit http://www.otcfn.com/gfam. Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. DATASOURCE: Great American Family Parks, Inc. CONTACT: investors, Rick McCaffrey of OTC Financial Network, +1-781-444-6100, ext. 625, Web site: http://www.animalsafari.com/ Web site: http://www.otcfn.com/gfam Web site: http://www.weloveparks.com/

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