Great American Family Parks Announces Pro-Forma Financial Results for 2004 - First Acquisition Accretive to Earnings - BOISE, Idaho, July 7 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC:GFAM), a company focused on developing profitable regional theme parks in the U.S., announced its pro-forma consolidated financial results for the year-ended December 31, 2004, assuming the acquisition of the park January 1, 2004. The Company reported total sales of $6,365,000, earnings before income taxes, depreciation, interest and amortization of $634,000 and net income after interest and depreciation of $191,000 in 2004. Sales were generated from the Company's recent acquisition of Wild Animal Safari, Inc., and the Company's long-standing Crossroads Convenience Center (CCC) retail business. CCC is strategically located outside a highly trafficked metropolitan center, the Idaho Center, which draws thousands of visitors year-round for concerts, rodeos, corporate symposiums and other events. Dr. Larry Eastland, President of Great American Family Parks, stated, "Wild Animal Safari represents our first major acquisition. This park has posted net profit before depreciation and interest of $861,000 over the last 12 months of operations. With strong fundamentals, an experienced management team and a scalable operating platform, we believe that the park should contribute immediate top-and bottom-line improvements to GFAM. Together with CCC and other potential acquisitions currently in the pipeline, we believe that our business strategy to develop profitable companies is underway and should result in increased shareholder value in the near-term." 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 up 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. For more information on the Company, visit http://www.weloveparks.com/. Investors should visit http://www.otcfn.com/gfam or contact Rick McCaffrey, Investor Relations, OTC Financial Network, 781-444-6100x625, . 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: Investor Relations, Rick McCaffrey of OTC Financial Network, +1-781-444-6100, ext. 625, , for Great American Family Parks, Inc. Web site: http://www.otcfn.com/gfam Web site: http://www.weloveparks.com/

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