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May 13, 1999

Cedar Fair Credits Knott's for Improved 1st Quarter Results

Sandusky, Ohio -- Cedar Fair LP, owners of Knott's Berry Farm in Buena Park, CA and Cedar Point in Sandusky, OH reported the company's first-quarter results Tuesday.

For the January-March quarter, Cedar Fair LP lost $21.8 million, or 41 cents per limited-partner unit, compared with a net loss of $23.5 million, or 44 cents per unit, in the same period of 1998.

Overall revenues for the company rose 29% to $23.2 million from $18 million a year ago.

The improvement came as a result of improved attendance at Knott's Berry Farm, the company's only year-round theme park.

Cedar Fair's chief executive, Richard L. Kinzel, attributed the increase to the new Supreme Scream and GhostRider thrill rides installed at Knott's last year, along with improved weather conditions. A year ago the park experienced a decline in attendance for the quarter due to the bad weather caused by El Nino.

Cedar Fair LP owns and operates five theme parks in the US, the company's flagship park Cedar Point in Sandusky, OH, Worlds' Of Fun in Kansas City, Missouri, Dorney Park in Allentown, Pennsylvania, Valleyfair! in Shakopee, Minnesota, and Knott's Berry Farm in Buena Park, California.