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May 16, 2001

Cedar Fair to Purchase Palm Spring Water Park

Sandusky, OH -- Cedar Fair, L.P. announced that it has signed a definitive agreement for the acquisition of Oasis Water Park, located in Palm Springs, California. The cash purchase is subject to a number of conditions and is expected to close at the end of May. Further details were not disclosed.

Oasis Water Park is a 16-acre water park that offers more than 20 separate water rides and attractions, including various water slides, a wave pool, a lazy river and a children's activity area, as well as food and merchandise shops. The acquisition also includes approximately 5 acres of adjacent land, which is undeveloped and available for further expansion.

"Oasis Water Park is a fine facility, and it will be an ideal addition to our group of California water parks," said Richard L. Kinzel, president and chief executive officer of Cedar Fair. "We are pleased with our two Knott's Soak City U.S.A. water parks in Southern California, and we believe that further expansion in this area represents a good opportunity for growth. The addition of Oasis, along with our previously announced plans to acquire Michigan's Adventure Amusement Park in Michigan, will give us eleven total properties for the 2001 season."