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May 5, 1999

Premier Parks In Agreement to Purchase Atlanta Water Park

New York, NY - May 4, 1999 -- Premier Parks Inc. announced today that it has entered into a definitive agreement to purchase the White Water-Atlanta Water Park and American Adventures Entertainment Park, a major water park and family entertainment complex located in Atlanta, Georgia. Premier also operates the Six Flags Over Georgia theme park in Atlanta.

The purchase price and other terms of the transaction were not disclosed. The closing is expected to occur in early May 1999, following the satisfaction of customary closing conditions. White Water-Atlanta is one of the top ten water parks in the United States in terms of annual attendance. Over the past five years, White Water-Atlanta has averaged attendance of approximately 600,000.

Premier Parks Inc. is the world's largest regional theme park company, with thirty-one regional parks, including parks serving nine of the ten largest metropolitan areas in the United States.