Growth Fund Partnership Announces new Executive VP

GROWTH FUND PARTNERSHIP, INC. (Growth"), a Miami based, privately owned, multi-billion dollar horizontally integrated financial services company, announced today that Gary A. Chernay has joined the firm as the new Executive Vice-President.

Miami, FL -- May 24, 2004 - GROWTH FUND PARTNERSHIP, INC. (Growth"), a Miami based, privately owned, multi-billion dollar horizontally integrated financial services company, announced today that Gary A. Chernay has joined the firm as the new Executive Vice-President.

Gary Chernay, J.D., M.B.A., B.A., while initially directly in charge of Growth Fund Partnership Rochester, New York office, his duties will also include involvement with all of Growth Fund Subsidiaries, domestic as well as those in the United Kingdom and South Africa. He will have primary responsibility to position Growth Fund Partnership, Inc. to become a publicly traded firm in the near future.

With over 20 years of experience in law, business, and investments, Gary Chernay brings a record of accomplishments, administrative ability, and significant knowledge to further buttress the Growth Fund Management team.

Growth Fund Partnership, Inc., is engaged in providing credit enhancement services worldwide. The Fund, a private corporation founded in 1981, owns a variety of debt free assets having an audited value of approximately US $11 billion dollars.

According to Jack Birnholz, President of Growth Fund, We are very excited and fortunate to have Gary in a key leadership role to lead the company into the 21st Century. We believe his addition to management will help utilize the full aspects of our extensive asset base. The result can only represent long-term benefits to our shareholders. We believe, have long-term potential for the benefit of our shareholders."

For further information contact Jack Birnholz, President, Growth Fund

Tel: 305 347 5112. Email: growthfund@email.com

www.growthfundpartnership.com.

This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. While these statements reflect the Company's best current judgment, they are subject to risks and uncertainties.

This press release may include forward-looking statements relating to such matters as expectations of income from the securities owned and/or guaranteed by the company. Such forward-looking statements are based on assumptions rather than historical or current facts and therefore, are inherently uncertain and subject to risk.

To comply with the terms of a safe harbor" provided by the Private Securities Litigation Reform Act of 1995 that protects the making of such forward-looking statements from liability under certain circumstances, the Company notes that a variety of factors could cause the actual results or experience to differ materially from the anticipated results or other expectations described or implied by such forward looking statements. These unknown factors, risks, and uncertainties may affect operations, performance, development, and results of the Companys business. The Company does not undertake any obligation to update or revise any forward-looking statements subsequent to the date on which they are made.