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March 23, 1999

Ogden Announces Acquisition Of Second Water Park

New York, NY - March 10, 1999 -- Ogden Corporation announced that its Entertainment group is acquiring privately-held Emerald Pointe Water Park in Greensboro, North Carolina.

Emerald Pointe, situated on approximately 35 acres, offers 34 rides and attractions including Thunder Bay, one of the largest wave pools in North America. In addition to its water attractions, the park features a Skycoaster(R) ride and an artificial outdoor climbing wall. Emerald Pointe attracted more than 400,000 patrons in 1998.

R. Richard Ablon, Chairman and Chief Executive Officer of Ogden Corporation said, "Emerald Pointe is the largest water park in the Carolinas and the twelfth-largest water park in the United States. This acquisition is an important step toward our goal of achieving a dominant position in this sector of the entertainment industry."