Great American Family Parks Closes on Building and Real Estate Sale

Receives net proceeds of approximately $1,350,000.00 


SANTA MONICA, Calif., Jan. 12  /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC:GFAM) (BULLETIN BOARD: GFAM) , announced today that Crossroads Convenience Center LLC, a wholly-owned subsidiary, completed the sale of its real property located in Idaho for a purchase price of $2,400,000. Crossroads received net proceeds of $1,348,186.41 from the sale of the real property.

The proceeds received from the sale of Crossroads will primarily be used for the further implementation of Great American Family Parks' business plan, which includes a planned expansion and upgrade to the Wild Animal Safari theme park and the adjacent land currently owned by the park, such as the development of new venues and improvements to its current facilities. The remaining proceeds will be used to strengthen Great American Family Parks' balance sheet and for working capital purposes. Great American Family Parks is also committed to pursuing additional amusement park acquisition opportunities.

About Great American Family Parks, Inc.:

Great American Family Parks is focused on buying and managing profitable regional theme parks and themed amusement attractions.  By building a family of parks, GFAM plans to develop 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:

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 Litigation Reform 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 result 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 expectations.

  Company Contact:
  Great American Family Parks
  Ashley Hull
  [phone] opt 1
  

  Investor Relations:
  SIG Consultants
  Doug Ward
  [phone]
  
  http://www.siginfogroup.com/

DATASOURCE: Great American Family Parks, Inc.



CONTACT:  Ashley Hull of Great American Family Parks, Inc.,

[phone] opt 1, or ; or Investor Relations,

Doug Ward of SIG Consultants, [phone], or 



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

http://www.siginfogroup.com/

http://www.weloveparks.com/ 

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