Cedar Fair announces $83 million in additions & improvements for the 2007 season

Thursday, 21 December 2006

Cedar Fair Entertainment Company Press Release

SANDUSKY, OHIO, December 21, 2006 – Cedar Fair Entertainment Company (NYSE: FUN), a publicly traded leader in regional amusement parks, water parks and active entertainment, has announced plans for $83 million in additions and improvements at its parks for the 2007 season.

Cedar Fair owns and operates 12 amusement parks, five outdoor water parks, one indoor water park and six hotels. Its parks are located in Ohio, California, North Carolina, Virginia/District of Columbia, Pennsylvania, Minnesota, Missouri, Michigan and Toronto, Ontario.

Dick Kinzel, chairman, president and chief executive officer, reported that the 2007 program will be highlighted by Maverick, a $21 million roller coaster at its flagship park, Cedar Point. Located in the park’s Frontiertown section, Maverick will treat riders to eight “airtime-filled hills,” three inversions and a second launch through a dark tunnel as the coaster reaches speeds of up to 70 mph. “After we built Top Thrill Dragster in 2003, I have been asked where do you go from here?” said Kinzel. “Now we have the answer in Maverick. With low to the ground, multiple terrain-hugging elements and plenty of airtime, it’s a ride that everyone will enjoy.” Kinzel also mentioned that an additional $4 million will be spent at Cedar Point in restaurant renovations and general park improvements.

The 2007 capital program will also feature an $11 million water park expansion at the newly acquired Kings Dominion amusement park. The new attractions will include the addition of a second wave pool, a Tornado water slide with turning and churning wet spills, and a Zoom Flume, which will give families the opportunity to enjoy a rafting adventure together. “These have been very popular with guests at several of our other water parks, and I am sure visitors to Kings Dominion will enjoy these rides during the hot, humid Virginia summers,” said Kinzel.

Kings Island, another park that the company acquired this past season, and Knott’s Berry Farm, the company’s only year-round park, will spend approximately $10 million and $8 million, respectively, on their 2007 capital programs. Kinzel added that both programs will be highlighted by major new thrill rides that will be announced by the parks at a later date.

Valleyfair will spend $7 million for its 2007 operating season and will feature Renegade, a new wooden roller coaster. This 104-foot-tall coaster will entertain guests with a never-before-experienced twisting first drop, a low-to-the-ground high-speed S-turn and a high-speed station fly-by. The remaining capital will be allocated across our other seven parks and will include new rides and attractions as well as new restaurants, ice shows and general park improvements.

“Jack Falfas and his team have been working very hard to maximize our capital dollars and I believe we have an exciting program in place at all of our parks for the 2007 operating season,” said Kinzel. “The $83 million program represents a wide range of attractions and shows the company’s commitment and dedication to offering the best in family entertainment, guest experience and service.”

Cedar Fair Entertainment Company (NYSE: FUN), a publicly traded partnership headquartered in Sandusky, Ohio, is one of the largest regional amusement park/resort operators in the world. The company owns and operates 12 amusement parks, five outdoor water parks, one indoor water park and six hotels. Amusement parks in the company’s northern region include three in Ohio: Cedar Point, Sandusky, consistently voted “Best Amusement Park in the World” in Amusement Today polls; Kings Island, near Cincinnati; and Geauga Lake & Wildwater Kingdom, Aurora; as well as Canada’s Wonderland, near Toronto; Dorney Park, Allentown, Pa.; Valleyfair, Shakopee, Minn.; and Michigan’s Adventure, near Muskegon, Mich. In the southern region are Kings Dominion, Richmond, Va.; Carowinds, Charlotte, N.C.; and Worlds of Fun, Kansas City. Western parks in California include: Knott’s Berry Farm, Buena Vista; Great America, Santa Clara; and Star Trek: The Experience, an interactive adventure in Las Vegas.