LOS ANGELES, Sept. 19 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC:GFAM) (BULLETIN BOARD: GFAM) , a company focused on buying and managing profitable theme parks and themed amusement attractions, announced today that Wild Animal Safari, the Company's wholly owned 200-acre park containing more than 1,800 exotic free-roaming animals in Pine Mountain, Georgia, reported record preliminary financial results for the month of August 2006. Gross receipts generated in the month of August 2006 by Wild Animal Safari were approximately $245,000 as compared to approximately $157,000 in the month of August 2005, an increase of approximately 56%. EBITDA grew to approximately $60,000 in August 2006 as compared to approximately $30,000 in August 2005, an increase of approximately 100%. EBITDA as a percentage of gross receipts increased from approximately 19% to 25% during the year over year period. Although the year over year periods contained a varying number of business days, average daily increases in both gross receipts and EBITDA for the month of August 2006 as compared to daily increases in gross receipts and EBITDA for the year earlier period, were up approximately 25% and 60% respectively. Great American Family Parks acquired Wild Animal Safari in May 2005 and opened additional revenue generating facilities including Noble Roman's Pizza and Tuscano's Italian Style Subs concession franchises in mid-July 2005. The Company stated that August is the first complete month for which financial results could be comparable for a similar period of the prior year. Dr. Larry Eastland, Chief Executive Officer of Great American Family Parks, stated, "We are duly impressed with Wild Animal Safari's very strong month in August. Since acquiring the park in May 2005, Great American Family Parks has been working diligently to improve the park's facilities including concessions, gift shops and through other measures that have streamlined operations. I believe we are succeeding in our two-pronged goal of providing visitors with one of the best family safari experiences available in America, and delivering continuously improved financial results for our shareholders." Dr. Eastland continued, "We attribute the park's success in August to many factors including our previously announced advertising campaign in the Atlanta market and growth in regional tourism. It is GFAM's belief that increased fuel costs over the summer, which may have made long distance summer vacations costly, also may have made Wild Animal Safari a more attractive vacation alternative to tourists and residents in the area. We believe that Wild Animal Safari is a unique regional park, and August's financial performance illustrates the results of our business plan in action. We plan to continue to build on this success with even more improvements to the park's acreage and an increase in our entertainment offerings by moving forward with our planned expansion into the additional 300 acres we already own around the park and through continued marketing efforts." EBITDA as a % Gross Total of Gross Year Receipts EBITDA Days Receipts August 2005 $157,000 $30,000 28 19% Average per day $5,607 $1,071 August 2006 $245,000 $60,000 35 25% Average per day $7,000 $1,714 Average increase per day $1,393 $643 Average % increase 25% 60% (a) EBITDA is defined as earnings before interest, taxes, depreciation and amortization and cumulative effect of changes in accounting principle. Although EBITDA is not a measure of performance or liquidity calculated in accordance with generally accepted accounting principles (GAAP), the Company believes the use of the non-GAAP financial measure EBITDA enhances an overall understanding of the Company's past financial performance as well as providing useful information to the investor because of its historical use by the Company as both a performance measure and measure of liquidity, and the use of EBITDA by virtually all companies in the restaurant sector as a measure of both performance and liquidity. However, investors should not consider this measure in isolation or as a substitute for net income, operating income, cash flows from operating activities or any other measure for determining the Company's operating performance or liquidity that is calculated in accordance with GAAP, it may not necessarily be comparable to similarly titled Measures employed by other companies. A reconciliation of EBITDA to the most comparable GAAP financial measure, net income, is included above. 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, 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/ . 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: Ashley Hull, +1-208-342-8888, or ; or investors, Bethany R. Tomich of Equity Performance Group, +1-617-723-1465, or , or http://www.equityperformancegroup.com/ , both for Great American Family Parks Web site: http://www.weloveparks.com/

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