Great American Family Parks Closes First Round of Financing

Great American Family Parks Closes First Round of Financing 


BOISE, Idaho, Oct. 4  /PRNewswire-FirstCall/ -- Great American Family Parks,
Inc. (OTC:GFAM) is pleased to announce that it has completed its first
fundraising through a private placement of its securities in which it received
gross proceeds of $429,000.  First Montauk Securities Corp., GFAM's financial
advisor, acted as the selling agent.

Ernest Pellegrino, Director of Corporate Finance for First Montauk Securities
Corp. stated, "This initial funding will help GFAM to begin the process of
trying to secure its first theme park within the next few months. We look
forward to continually assisting and advising GFAM to try and meet its goal of
acquiring regional theme parks, themed amusement attractions and recreational
facilities."  In addition to providing financial advisory services, First
Montauk Securities Corp. has been coordinating strategic senior funding and
theme park roll-up strategies for the Company for several months.

Dr. Larry Eastland, President of Great American Family Parks, noted, "First
Montauk Securities Corp. will take a leadership role in helping us to secure
the financing needed to execute GFAM's growth plans.  In addition, provided
that we are able to secure the necessary capital, we will be able to turn the
corner and truly take charge of our positioning to become a market leader in
regional theme parks.  We have crafted a strategy of centering our ownership
portfolio around small and medium-sized parks with existing strong management."

Mr. Dale Voorhis President of GFAM Management Company, a division of Great
American Family Parks, continued, "Regional theme parks are the largest sector
of the theme park industry, accounting for 70% of total annual sales.  As the
major seasoned players in regional theme parks, such as Six Flags, move into a
different phase of their businesses, they have left a major vacuum in regional
theme park management that GFAM seeks to fill.  With the industry expected to
grow 23.8% over the next few years, we believe now is the perfect time to enter
the park industry with a roll-up strategy.  We believe GFAM will be able to
grow quickly through the combination of our aggressive acquisition strategy and
the funding base that our relationship with First Montauk Securities Corp.
allows.

About First Montauk Securities Corp.

First Montauk Securities Corp., based in Red Bank, New Jersey, is a member of
NASD/SPIC and is a full-service investment banking and brokerage operation
offering an extensive 166-office broker network of financial professional
across America.  With over 400 representatives, First Montauk Securities
Corp.'s Corporate Finance Dept. specializes in recapitalization, private
placement equity and debt, initial and secondary public offerings, financial
advisory services, as well as mergers and acquisitions.

About Great American Family Parks

Great American Family Parks is built on the mission of buying and managing
profitable regional theme parks and themed amusement attractions.  By building
a family of parks, each with between 300,000 to 1 million annual attendees,
GFAM is proposing to develop a series of compatible but 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.
Nationally, regional parks' attendance is projected to grow at a compound
annual growth rate of 1.8%, increasing their 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, please contact Stan Gray at: 509-464-2324 or visit us at:
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:  Stan Gray of Great American Family Parks, Inc.,

[phone]



Web site:  http://www.weloveparks.com/ 

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