GREAT AMERICAN FINANCIAL CORP (OTC: GAFL), Formerly Interactive Gaming & Communications, Inc., Makes Progress

GREAT AMERICAN FINANCIAL CORP (OTC: GAFL), Formerly Interactive
Gaming & Communications, Inc., Makes Progress 


NORRISTOWN, Pa., Oct. 5  /PRNewswire-FirstCall/ -- GREAT AMERICAN FINANCIAL
CORP (OTC:GAFL), formerly Interactive Gaming & Communications, Inc. (OTC:IGAC),
is pleased to announce that it is preparing its financials to reapply to the
Bulletin Board for listing.  In April 2003, the Company filed a Form 15 to be
removed from reporting status to avoid auditing and other expenses for an
inactive company.

Most of the GAFL consolidated liabilities have been eliminated by the
dissolution of its non-operating subsidiaries, including Intersphere
Communication, Ltd. in a Chapter 7 proceeding.

GAFL has divested itself of all gaming-related activities and its new direction
is that of a holding company focused on investing in and building a network of
operating subsidiaries engaged in various innovative businesses. At the present
time, there is a letter of intent to acquire a Residential Water Treatment
company using a unique sales program which indicates a rapid increase in sales
and national exposure.

This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking statements are
based on current expectations, estimates and projections made by management.
The Company intends for the forward-looking statements to be covered by the
safe-harbor provisions for forward-looking statements. Words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates,"
or variations of such words are intended to identify such forward-looking
statements.  The forward-looking statements set forth herein include the
signing of a definitive acquisition agreement and that a closing will take
place. All forward-looking statements in this press release are made as of the
date hereof, and the Company assumes no obligation to update these
forward-looking statements whether as a result of new information, future
events or otherwise. The forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth or implied by any forward-looking statements. These uncertainties
include those set forth in the Company's SEC reports, including the Company's
Form 10-KSB and other filings. Copies of these filings are available through
the SEC's electronic data gathering analysis and retrieval system (EDGAR) at
http://www.sec.gov/. 

DATASOURCE: Great American Financial Corporation



CONTACT:  Gregory R. Noonan, Esq., Great American Financial Corp.,

[phone], Fax: [phone], 



Web site:  http://hometown.aol.com/gafcholding 

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