American Leisure Holdings, Inc. Acquires Assets of GCD Acquisition Corp.

Business Editors/Travel Writers

TAMARAC, Fla.--(BUSINESS WIRE)--April 5, 2004

American Leisure Holdings, Inc. (OTCBB:AMLH), a fully integrated travel services distribution company based on a cutting-edge web platform, announced today that it has successfully closed on the acquisition of assets owned by GCD Acquisition Corp. ("GCD") of Coral Gables, Florida in the form of senior, secured notes in the total amount of $22,600,000 for the sum of $1,700,000. This consideration was paid via the issuance of 340,000 common restricted shares at $5 a share in AMLH. In addition, AMLH gave the seller various indemnities and agreed to assume the seller's liability for, among other things, the responsibilities of GCD to service the purchase money financing for the assets as defined in a certain promissory note dated February 23, 2004 in the amount of $5,000,000 that carries an interest rate of 3 month LIBOR + 1% per annum. This note is to be serviced on an interest only basis every six months in arrears, until it reaches final maturity in February, 2009.

Having acquired the ownership of the assets, AMLH then made a further advance under the debt instruments in the amount of $750,000. This advance was financed utilizing part of the $6,000,000 credit facility to AMLH from Stanford Venture Capital Holdings, Inc.("Stanford") reported in our press release dated March 29, 2004. The Stanford credit facility is convertible into common shares at the option of Stanford at $15 a share and includes the issuance of 1,950,000 common stock warrants to Stanford et al, 600,000 warrants at $0.001 and 1,350,000 warrants at $2.96.

About American Leisure Holdings, Inc.

American Leisure Holdings, Inc. (OTCBB:AMLH) is a fully integrated travel services distribution company operating on a leading edge web platform. AMLH owns Hickory Travel Systems, Inc. a travel distribution network whose members produce multi-billion dollar gross annual sales. (In correction of a press release issued on March 29, 2004, it is the member agencies of Hickory Travel Systems, not Hickory Travel Systems, that produce the multi-billion dollars of annual sales). The Company's new growth strategy is to acquire travel companies and expand its affiliates travel network within AMLH's business model for an integrated distribution channel whilst continuing its web based and e-commerce solutions development. The Company also has a Vacation Resort Development Division that is actively involved in the development of a luxury destination resort named "Tierra Del Sol Resort" in Orlando Florida, featuring 971 vacation town homes and condominiums to include a $12 million amenities package all on 122 acres, within 10 miles of Walt Disney World. Pre-sales commenced on February 1, 2004.

Forward Looking Statement:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AMLH in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AMLH has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause AMLH's results to be materially different from results implied in such forward-looking statements. Important factors known to AMLH that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AMLH's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AMLH undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.