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April 2, 1999

Ogden Announces Acquisition of Raging Waters San Dimas

New York, NY - April 1, 1999--Ogden Corporation announced today that its Entertainment group has signed an agreement to acquire Raging Waters, a privately owned water park in San Dimas, California.

Raging Waters is the largest water park in the western United States, and the fifth largest of its kind in the country. Situated on 50 acres of land, the park features 25 major aquatically themed ride and slide attractions. Raging Waters was visited by more than 750,000 patrons in 1998. The park is located 30 minutes from downtown Los Angeles and 20 minutes from the Anaheim area. The grounds are part of a regional park and have been designed to enhance and maintain the local ecosystem.

R. Richard Ablon, Chairman and Chief Executive Officer of Ogden Corporation said, "Raging Waters adds another distinctive brand to our water park portfolio and enhances Ogden's position in this segment of the entertainment market. Raging Waters (San Dimas) is a dominant regional park with significant expansion potential that will have a major impact on our 1999 earnings."