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January 3, 2003

Cedar Fair L.P. Announces Election Of New Directors

Sandusky, OH -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates six amusement parks and five water parks, today announced that its general partner, Cedar Fair Management Company, has elected seven directors to serve effective January 1, 2003. The directors are: Richard L. Kinzel, Richard S. Ferreira, Bruce A. Jackson, Michael D. Kwiatkowski, Thomas A. Tracy, and two new members, Steven H. Tishman and David L. Paradeau.

Dick Kinzel, president and chief executive officer, stated, "I'd like to thank Don Messinger, Mary Ann Jorgenson and Terry Hackett for their years of dedicated service to our organization. At the same time, I'm excited to be working with our new directors who I believe will provide valuable guidance and counsel for Cedar Fair in this challenging business environment." Mr. Tishman is managing director at Rothschild, Inc., in New York City, and Mr. Paradeau is owner and chief executive officer of Minnesota Zephyr Limited, in Stillwater, Minnesota. "The new members will bring a fresh perspective to our organization on issues such as strategic planning and marketing," Kinzel continued. "Further, because neither has any relationship with our organization other than serving as a director, they reinforce our dedication to the highest standards of corporate governance and full compliance with all current and proposed NYSE and SEC guidelines."