Great American Family Parks Reports Third Quarter Results

Name	Symbol	Market	Type
Graniteshares Gafam Etp	BIT:GFAM	Italy	Exchange Traded Fund

Graniteshares Gafam Etp (BIT:GFAM)
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- Revenues Up 42.1%, Gross Profit Up 41.1% - SANTA MONICA, Calif., Nov. 22 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTCBB: GFAM), a company focused on acquiring and managing profitable regional theme parks and themed amusements, today announced its unaudited financial results for the three and nine months ended September 30, 2006. In the third quarter, the Company reported year over year revenue and gross profit growth. Full details of the Company's quarterly financial results are available in the Company's Form 10-QSB at http://www.sec.gov/. For the third quarter ended September 30, 2006, revenues increased 42.1%, to $3,352,566, versus revenues of $2,359,741 for the third quarter ended September 30, 2005. Gross profit increased 41.1% to $753,143, versus $533,802 in the third quarter of 2005. The gross profit margin remained stable at 22.5% for the third quarter of 2006, versus 22.6% for the third quarter of 2005. The Company reported a net loss of $240,025 for the third quarter of 2006, versus a net loss of $102,143 for the third quarter of 2005. As of September 30, 2006, cash and equivalents totaled $134,491 and shareholders' equity totaled $2,404,371. Sequential comparisons to results in the second quarter of 2006 are not useful due to the seasonality of the Wild Animal Safari park operations. The Company acquired the Wild Animal Safari park in June of 2005. Revenue gains in the third quarter of 2006 were attributable to increased attendance and per capita spending at Wild Animal Safari and increased sales of fuel and in-store convenience sales at the Crossroads Convenience Center. The increased net loss in the third quarter of 2006 was due to an increase in general and administrative expenses attributable to new corporate and compliance costs. Subsequent to the close of the third quarter, the Company announced that it has completed the first part of a planned two-stage transaction to sell the Crossroads Convenience Center (CCC) to Idaho Chevron Center, Inc. The initial phase closed on October 31, 2006 and involved the sale of a portion of CCC's assets for a purchase price of $600,000, with $300,000 paid in cash and $300,000 paid as a promissory note. The second phase of the transaction would involve the sale of CCC's real property, which Idaho Chevron has an option to purchase for $2.4 million. "We expect the strong gains we saw in Wild Animal Safari in the third quarter to continue," said Dr. Larry Eastland, President of Great American Family Parks. "Proceeds from the sale of the Crossroads Convenience Center will facilitate the planned expansion and upgrade of the park, including the addition of new venues, improvements to existing facilities and the development of adjacent land. This will enable park visitors to have an even more profound safari experience. In addition to strong organic growth resulting from these planned enhancements, we expect that increased marketing and advertising expenditures will act as additional catalysts for growth." COMPARATIVE RESULTS* Third Quarter Third Quarter Ended 9/30/06 Ended 9/30/05 Revenue $3,352,566 $2,359,741 Gross Profit $753,143 $533,802 Gross Profit Margin % 22.5% 22.6% Net Income (Loss) ($240,025) ($102,143) Loss Per Share $0.00 $0.00 Weighted Avg Shares Outstanding (Fully Diluted) 62,636,000 53,365,000 *A complete description of the Company's financial results for the periods indicated are set forth in the Company's Quarterly Report on Form 10-QSB for the period ended September 30, 2006 and can be viewed at http://www.sec.gov/. 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: 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. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the second quarter ended June 30, 2006. 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. Contact: Ashley Hull of Great American Family Parks, +1-310-450-9100, or ; or Investor Relations, Bethany R. Tomich of Equity Performance Group, +1-617-723-1465, or . DATASOURCE: Great American Family Parks, Inc. CONTACT: Ashley Hull of Great American Family Parks, +1-310-450-9100, or ; or Investor Relations, Bethany R. Tomich of Equity Performance Group, +1-617-723-1465, or Web site: http://www.weloveparks.com/

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