Cedar Fair Amends Senior Secured Term Debt Facility

Cedar Fair Entertainment Company FUN today announced that it has amended its senior secured term debt facility dated July 29, 2010, on terms reflective of the recently improving conditions in the credit market, as well as the Company's strong performance and favorable outlook for 2011 and beyond. Under the new lending arrangements, interest rates have been reduced, certain covenants modified and the maturity extended one year to December 2017. Interest rates on the senior secured term debt facility decreased to LIBOR plus 300 basis points with a LIBOR floor of 1%. This represents a 1.5% improvement over the previous rates of LIBOR plus 400 basis points with a LIBOR floor of 1.5%. The amendment also improved the Company's flexibility surrounding distribution payments. In 2011 the general distribution basket has been increased to $60 million from $20 million. This basket will revert back to $20 million beginning in 2012, while the parameters surrounding the excess cash flow sweep have been widened for 2012 and beyond. The customary affirmative and financial covenants remain unchanged.