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December 21, 2001

Cedar Fair Declares Fourth Quarter Cash Distribution

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 the declaration of a regular quarterly cash distribution of $0.41 per limited partner unit, payable February 15, 2002, to holders of record January 4, 2002. This distribution continues the annualized distribution rate of $1.64 per unit.

According to Richard L. Kinzel, president and chief executive officer, the $42 million in capital improvements for the 2002 season at the Partnership's parks are proceeding on schedule and on budget. "Cedar Point's new double-impulse roller coaster, Wicked Twister, is coming along well and is expected to be ready for the park's opening day in May 2002," said Kinzel. "Our other winter construction projects, including Knott's Berry Farm's new world-class coaster, Xcelerator, are also moving forward as planned."