Cedar Fair, L.P. reports 5% increase in August attendance

Wednesday, 03 September 2003

Cedar Fair, L.P. Press Release

SANDUSKY, OHIO, September 2, 2003 -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates six amusement parks and five water parks, today reported that combined attendance at its eleven properties for the month of August, including the Labor Day weekend, increased 5% from a year ago. During the same period, average in-park guest per capita spending was up 2% and out-of-park revenues, including resort hotels, were up 4%.

“As weather continued to improve over the past several weeks, attendance at several of our parks picked up nicely,” said Dick Kinzel, chairman, president and chief executive officer. “With warmer temperatures and less rainfall, attendance was up 4% at Cedar Point and 12% at Valleyfair, while our smallest amusement park, Michigan’s Adventure, had a huge month of August. In addition, the hot, dry weather helped to generate more than a 20% increase in combined attendance at our five water parks.”

Kinzel noted that after the strong August results, combined attendance through the first eight months of the year was down only 2% from 2002, while average in-park guest per capita spending was up 3% and out-of-park revenues were up 1%. “Based on preliminary August results, we remain comfortable with our revised projection for 2003 full-year revenues of $490-500 million,” he added.

Kinzel concluded by explaining that capital expenditure plans at the Partnership’s parks for next season are in the process of being finalized and will be announced at a later date, including details of a major indoor water park addition to its Radisson Hotel at Cedar Point.

Cedar Fair’s six 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; 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.