Q Investments responds to Cedar Fair's proposals to allow unitholders to nominate directors

Q Investments pleased that board supports unitholders' right to nominate directors.

Wednesday, 07 September 2011

Q Investments Press Release

FORT WORTH, Texas, Sept. 7, 2011 -- Q Funding III, L.P. and Q4 Funding, L.P. (together, "Q Investments") today responded to Cedar Fair's FUN +2.29% press release announcing its intention to allow unitholders to nominate directors.

Q Investments is pleased that the board of Cedar Fair has finally listened to its unitholders' wishes and is supporting their right to nominate directors. Q Investments plans to support the company's proposals implementing the necessary changes at the special meeting on October 27, 2011 and will encourage other unitholders to do the same. Q Investments is cautiously optimistic that the company, under the leadership of its President and soon-to-be Chief Executive Officer, Matt Ouimet, has finally turned the corner and now intends to adopt the best practices in corporate governance.

Q Investments hopes these efforts will extend to the company's plans to fill its open board seats. In the past, we have unfortunately seen this board refuse to nominate directors who were not a close personal friend or business associate of the Chief Executive Officer or a then-current Board member. Obviously, this needs to change and we are hopeful it will under the board's new leadership.

When Q Investments was asked to participate in the board nomination process a year ago, Q Investments proposed a list of candidates to the company in which neither Q Investments nor the company had any prior affiliation - either personal or professional. John Scott and Eric Affeldt became board members as a result of this process and have provided invaluable leadership over the past year.

We hope the company will seek input from unitholders on its candidates prior to putting them on the ballot. And we want to let our fellow unitholders know that we stand ready yet again to protect our mutual interests if the board puts forth any candidates that exhibit even the slightest signs of "cronyism." However, we sincerely hope that this will not be necessary and that this board is finally ready, under Mr. Ouimet's leadership, to listen to its unitholders - who, after all, are the owners of this business.