NEWPORT BEACH, Calif., Jan. 8 /PRNewswire/ -- Festival Fun Parks, LLC
("Festival") and Palace Finance, Inc. ("Palace," and together with
Festival, the "Companies") today announced that as of 5:00 p.m., New York
City time, on January 7, 2008, consents ("Consents") had been delivered by
the holders of 99.96% of the Companies' outstanding 10 7/8% Senior Notes
due 2014 (the "Notes") not held by the Companies or any of their affiliates
to amend the indenture relating to the Notes. The Consents may not be
revoked, subject to certain exceptions as set forth in the Companies' Offer
to Purchase and Consent Solicitation Statement, dated December 20, 2007
(the "Offer to Purchase").

    The obligation of the Companies to accept for payment and purchase the
Notes that are tendered and pay for the related Consents is conditioned on,
among other things, obtaining sufficient financing to repurchase the Notes
pursuant to the tender offer and the consent solicitation.

    This announcement is not an offer to purchase, a solicitation of an
offer to purchase or a solicitation of consent with respect to any
securities. The tender offer and consent solicitation is being made solely
in the Offer to Purchase and accompanying Consent and Letter of
Transmittal.

    Festival and Palace have engaged Merrill Lynch & Co. to act as the
dealer manager and solicitation agent for the tender offer and the consent
solicitation. Questions regarding the tender offer and consent solicitation
may be directed to Merrill Lynch toll-free at (888) 654-8637 or collect at
(212) 449-4914. Request for copies of the Offer to Purchase and Consent
Solicitation Statement and the Consent and Letter of Transmittal may be
directed to Global Bondholder Services Corporation, the information agent
for the tender offer and the consent solicitation, at (866) 952-2200.

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