Cedar Fair, L.P. announces pricing of partnership unit offering

Thursday, 15 July 2004

Cedar Fair, L.P. Press Release

SANDUSKY, OHIO, July 15, 2004 -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates seven amusement parks and five water parks, today reported that it had priced its follow-on public offering of 2,400,000 units representing limited partner interests at $30.00 per unit. In addition, the underwriters have the option to purchase up to 360,000 more units to cover any over-allotment of units. The Partnership will use the net proceeds from the sale of the units (approximately $68.5 million before any over-allotment) to repay borrowings under its revolving credit facility related to the recent acquisition of Geauga Lake. The transaction is expected to close on July 20, 2004.

KeyBanc Capital Markets, a division of McDonald Investments, Inc., is acting as the lead managing underwriter and A.G. Edwards & Sons, Inc., Stifel, Nicolaus & Company, Incorporated and Natexis Bleichroeder Inc. are acting as co-managing underwriters. When available, copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from KeyBanc Capital Markets at McDonald Investment Center, 800 Superior Avenue, Cleveland, Ohio 44114.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The offering of these securities may be made solely by means of the prospectus supplement and accompanying prospectus included in the registration statement.

Cedar Fair’s seven amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott’s Berry Farm near Los Angeles in Buena Park, California; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania; Geauga Lake near Cleveland, Ohio; Valleyfair near Minneapolis/St. Paul; Worlds of Fun, located in Kansas City, Missouri; and Michigan’s Adventure near Muskegon, Michigan. The Partnership’s water parks are located near San Diego and in Palm Springs, California, and adjacent to Cedar Point, Knott’s Berry Farm and Worlds of Fun. Cedar Fair also operates Camp Snoopy at the Mall of America in Bloomington, Minnesota under a management contract.