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October 24, 2002

VisionLand Accepts Purchase Bid From Team Pro Parks

Bessemer, AL -- VisionLand officials accepted a $5.25 million bid to purchase the park from Team Pro Parks LLC based in San Diego. The bid is part of the park's bankruptcy reorganization plan.

Park officials had hoped they would get the $25 million asking price, but only two bidders remained and the other bid $1.25 million less than Team Pro Parks.

VisionLand closed at the end of the 2000 season when park officials filed for bankruptcy protection.

Team Pro Parks announced plans to spend $1 million on a new wave pool before the park opens in late May. Further, the company intends to spend $1.5 million on maintenance to get the park's attractions back in working order after sitting closed for two years.

The company is also considering splitting the amusement park, water park and park entrance into three different areas. The entrance area described by Team Pro Parks as a "Main Street" could be filled with shops and restaurants that would operate year round.