05/19/06 -- Graystone Park Enterprises Inc. (OTC: GPKE) is proud to announce it has reached a milestone in its business strategy. GPKE ( www.GPKE.com ) has completed a successful spinout of IC Places, Inc. ( www.icPlaces.com ) to its shareholders, which is in its final stage before trading.

Over the past year the IC Places team has created the algorithms and programming that make up the foundation of its 900 City Websites... allowing the IC Places websites to virally grow into a limitless source of city knowledge.

With this foundation firmly in place, IC Places ( www.icPlaces.com ) will begin adding content to our websites. This will include editorials written by experts around the globe, each serving their home cities. Also included will be real time information on Spas, Nightlife, Restaurants and all the things that make each city great. This will include daily and annual events in each city. As we add more content each city site will become more alive.

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