Great American Family Parks Withdraws Submission of Current Form 10-SB

Great American Family Parks Withdraws Submission of Current Form
10-SB
- Company to Resubmit With Audited 2004 Financials to Become a Fully Reporting
Company - 


BOISE, Idaho, May 10  /PRNewswire-FirstCall/ -- Great American Family Parks,
Inc. (OTC:GFAM), a company focused on rolling-up profitable regional theme
parks in the U.S., announced today that it has withdrawn its Form 10-SB to the
SEC, to submit a revised filing containing its 2004 audited financial
statement.  The Company plans to submit its revised Form 10-SB perhaps as soon
as this week.

Dr. Larry Eastland, president of Great American Family Parks, stated, "This
withdrawal is in the best interests of our shareholders, as we are now in
position to include our audited financials with the Form 10-SB, which will
enable GFAM to become a fully reporting company upon acceptance by the SEC.
Great American Family Parks is on track with its plans to clear the SEC review
process and to then trade on the OTC Bulletin Board, a move we anticipate will
increase our visibility and transparency for the benefit of our shareholders."

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.

Regional theme parks are a relatively recession-proof growth market.  The
market for U.S. theme and amusement parks is expected to grow at a compound
annual growth rate (CAGR) of 3.4% to $11.7 billion by 2007.  Nationwide,
regional park attendance is projected to increase at a CAGR of 1.8%, to bring
collective attendance to 263.8 million by 2007.  Overall revenues for America's
regional theme parks are expected to total $8.31 billion within five years. 
For more information, visit http://www.weloveparks.com/.  Investors should
visit http://www.otcfn.com/gfam.

For more information, please contact Rick McCaffrey, Investor Relations, OTC
Financial Network, 781-444-6100x625, .  Also visit http://www.otcfn.com/gfam.

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:  Rick McCaffrey, Investor Relations of OTC Financial Network,

[phone], 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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