GFAM Announces Third Quarter Financial Results

SANTA MONICA, Calif., Nov. 29  /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC:GFAM) (BULLETIN BOARD: GFAM) (the "Company") today announced its financial results for the period ended September 30, 2007.  Sales for the three-month period ended September 30, 2007 decreased by $2.7 million from $3.3 million for the three months ended September 30, 2006 to $559,712 for the comparable period in 2007.  The decrease in sales was primarily attributable to the sale of the Crossroads Convenience Center in 2006.   Excluding the impact of the sale of the Crossroads Convenience Center, sales increased by 19% over last year.  The Company achieved gross profit of $391,798 or 69.9% for the three-month period ended September 30, 2007 as compared to gross profit of 753,143 or 22.4% for the period ended September 30, 2006. The improved gross margins resulted from the elimination of the Crossroads Convenience Center, which contributed high sales volume and low gross margins.

About Great American Family Parks, Inc.

Great American Family Parks ("GFAM") is in the business of acquiring, developing and operating local and regional theme parks and attractions in the U.S. and internationally. The Company plans to build a family of parks primarily through acquisitions of small local regional privately owned existing parks. Its goal is to develop a series of compatible but distinct entertainment and amusement products, including themed amusement parks, associated products, food and beverage, and multimedia offerings.  The implementation of this strategy has begun with themed amusement parks and attractions.

GFAM owns and operates the Wild Animal Safari theme park, which is located on 200 acres of a 500-acre plot, and includes a drive-through animal viewing area that opened in 1991.  It is home to more than 1,800 animals from every continent except Antarctica.  Most animals roam wild throughout a natural habitat of more than 200 acres; the total area utilized will be increased as further venues are added.  In addition to availing themselves of the amenities described below, visitors to Wild Animal Safari are able to observe, photograph, and feed the animals from their own cars as they drive along the more than three miles of paved roads that run throughout the habitat area. Some animals are contained in special fenced areas or pens within natural habitat, and others are located in a more traditional zoo-like atmosphere.

Safe Harbor Statement

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.

  Contact:
  Ashley Hull
  ProPublic Media, LLC.
  [phone]
  

DATASOURCE: Great American Family Parks, Inc.



CONTACT:  Ashley Hull, [phone], , for

Great American Family Parks, Inc.

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