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funnysafetyguy
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I am thinking this one could become a major player in the Six Flags auction. The CEO of GFAM sent out a letter to stock holders the other day with some positive EBITA.
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funnysafetyguy
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I found this on their investor page today (it was released yesterday).

Great American Family Parks Featured in The Wall Street Journal
BOISE, Idaho, Oct. 6 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC: GFAM), a company focused on developing profitable regional theme parks in the U.S., announced today that the Company was featured in The Wall Street Journal, page A19 on October 4, 2005 in an article titled 'Knowing the Business Is Vital in Face of Loss' by Paulette Thomas.

The case study discusses the relationship between Great American Family Parks CEO Dr. Larry Eastland and his late business partner Bob Klosterman. An excerpt from The Wall Street Journal states: 'They [Eastland and Klosterman] spotted a couple of promising parks, and began meeting with investors. Mr. Eastland would present the demographics and marketing opportunities, but finance questions went straight to Mr. Klosterman. 'Bob was a genius with numbers,' says Mr. Eastland ... It was in July 2003, as they were completing agreements to purchase two parks, that Mr. Klosterman died suddenly of a heart attack ... Mr. Eastland lost his friend and business partner of 10 years... As they [Great American Family Parks management team] took time to regroup, one of their parks in negotiations went to another buyer. But Great American was able to acquire the Wild Animal Safari in Pine Mountain, Ga., under renegotiated terms. It's a start, and the team has identified 40 other potential parks.' To read the full text version of the article, please visit http://www.otcfn.com/gfam/articles/wsj100405.html.

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. For more information on the Company, visit http://www.weloveparks.com. Investors should visit http://www.otcfn.com/gfam or contact Rick McCaffrey, Investor Relations, OTC Financial Network, 781-444-6100x625, rick*otcfn.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.

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funnysafetyguy
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I forgot to add the letter in my original post


Great American Family Parks CEO Issues Letter to Shareholders

BOISE, Idaho, Oct. 5 /PRNewswire-FirstCall/ -- Great American Family Parks, Inc. (OTC: GFAM), a company focused on aggregating profitable regional theme parks in the U.S., issued today a letter from President and CEO Dr. Larry Eastland.

Dear Fellow Shareholder:

As the CEO of Great American Family Parks, I am pleased to provide you with a progress report on your company. I am excited for you to be a shareholder of GFAM at a time when we believe we may realize strong corporate growth.

We believe GFAM is the only public company on the market today focused on acquiring regional entertainment/amusement parks nationwide. The potential of owning 10 regional parks is the equivalent of owning one international theme park, the only difference being that multiple parks tend to diversify investment risk while having the potential of maximizing potential returns. By aggregating parks into a public company, we believe that we will have the opportunity to infuse equity for additional expansion, while potentially leveraging our centralized management, unified branding, cost and operational efficiencies, and economies of scale to create a family of profitable parks.

Our first major acquisition is accretive to earnings. Our first acquisition, Wild Animal Safari, Inc., is located as an easily accessible one-hour drive time from Atlanta, Georgia, as well as Columbus, Georgia and Montgomery and Birmingham, Alabama. Wild Animal Safari is one of the few remaining animal parks in America where visitors can experience more than 1,500 animals 'up close and personal.' With nearly $2 million in annual revenues, earnings before interest, taxes, depreciation and amortization (EBITDA) of $900,000 and bottom-line profits in 2004, Wild Animal Safari has displayed an excellent growth pattern, including consistent profitability, throughout its 14-year operating history, which I believe will continue.

Destination 'day trips' are a high-growth market niche. According to a Pricewaterhouse Coopers Theme Park Study, theme parks outperformed the movie industry by almost $3 billion. The study reports that regional parks are fast becoming mini-destination resorts as growth in day trips are offsetting declines in international and domestic travel. The study further reported that this trend is expected to create an $8.3 billion regional theme park industry in five years.

Park admission revenues are just the beginning for GFAM. We anticipate creating multiple revenue streams from food and beverage concessions, merchandising and multimedia offerings to new, live attractions across a growing family of parks. We recently acquired nationally branded food franchises, Noble Roman's Pizza and Tuscano's Italian Subs, to provide us with what we anticipate will be a distinct advantage to capture consumer dollars.

Strengthening Financials. Consolidated sales of $6,365,000, EBITDA of $634,000 and net income of $191,000 for the year ended December 31, 2004 were generated from Wild Animal Safari Park, and the Company's long-standing Crossroads Convenience Center (CCC) retail business. Now, together under GFAM, these businesses are growing revenues above 15% per year.

We look forward to sharing each positive development as we continue to execute our plan for growth. Should you have any specific questions or for more information, please contact Rick McCaffrey at our investor relations firm OTC Financial Network, 781-444-6100 ext. 625; email rick*otcfn.com or visit http://www.otcfn.com/gfam/ and http://www.weloveparks.com for future updates.

As always, we sincerely thank you for your interest and continued support in GFAM.

With best regards,

Larry L. Eastland, Ph. D.
President and CEO
Great American Family Parks, Inc.


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. Nationwide, regional park attendance is projected 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. (source: Price Waterhouse Coopers) For more information, visit http://www.weloveparks.com. Investors should 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.

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