Cedar Fair, L.P. announces proposed public offering

Wednesday, 14 June 2006

Cedar Fair, L.P. Press Release

SANDUSKY, OHIO, June 14, 2006 -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership, today announced its intention, subject to market conditions, to raise up to $250 million in a public offering of its limited partnership interests.

The Partnership intends to use the proceeds of the offering to repay a portion of the term loan debt that it expects to incur to finance the previously announced acquisition of the Paramount Parks from CBS Corporation. The Partnership believes the offering, if completed, will allow it to reduce its overall leverage and achieve an economical total cost of capital. The Partnership anticipates that the offering will be completed within the next six months.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cedar Fair owns and operates seven amusement parks and five water parks. The 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; Valleyfair near Minneapolis/St. Paul, Minnesota; Worlds of Fun, located in Kansas City, Missouri; Geauga Lake near Cleveland, Ohio; 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 owns and operates the Castaway Bay Indoor Waterpark Resort in Sandusky, Ohio.

Some of the statements contained in this news release constitute forward-looking statements. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Partnership believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, competition for consumer leisure time and spending, adverse weather conditions, unanticipated construction delays and other factors could affect attendance at our parks and cause actual results to differ materially from the Partnership’s expectations. In addition, risks and uncertainties concerning the previously announced acquisition of the Paramount Parks from CBS Corporation include, but are not limited to, regulatory approval, the timely receipt of financing and the fulfillment of other specified closing conditions.