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CEDAR FAIR, L.P. ANNOUNCES SECOND QUARTER RESULTS

 CEDAR FAIR, L.P. ANNOUNCES SECOND QUARTER RESULTS
 SANDUSKY, Ohio, Aug. 5 /PRNewswire/ -- Cedar Fair L.P. (NYSE: FUN),


a publicly traded partnership which recently acquired a third amusement/theme park, today announced results for the second quarter of 1992 covering the two parks it owned and operated during that period. Results for the Pennsylvania park acquired July 21, 1992 will only be included in operations for periods after the acquisition.
 Net revenues for the quarter ended June 28, 1992 were $41.6 million, a decrease of $1.6 million, or 3.7 percent, from the record $43.2 million in the quarter ended June 30, 1991. Net income for the period decreased 11 percent to $10.4 million, or $.49 per limited partner unit, from the record $11.7 million, or $.55 per unit, in 1991. On a combined basis, a 2 percent increase in in-park guest per capita spending was offset by a 7 percent decrease in early-season attendance.
 Richard L. Kinzel, president and chief executive officer, explained that the decline in early-season attendance from last year's record and the slower than expected growth in guest per capita spending were largely a consequence of both parks experiencing an unusually cold and rainy spring. Average temperatures in May and June fell below 70 degrees, more than 10 degrees lower than the previous year, and rain impacted attendance on many weekend days.
 "Last year's record early-season attendance benefited significantly from favorable weather and the successful debut of Mean Streak, a world class wooden roller coaster at Cedar Point. Through June of this year, combined attendance was comparable with the average attendance achieved over the last five years, and 1992 second quarter revenues and earnings were the second best in our history. Moreover, in recent weeks, attendance and per capita spending at all three parks have strengthened, which is encouraging as we move into our peak period of operations," Kinzel said.
 Kinzel explained that virtually all of Cedar Fair's gross income is realized during a 130-day operating season from early May to late September, with the major portion historically concentrated in the peak vacation months of July and August. He noted that comments from guests regarding the new Berenstain Bear Country and Challenge Park attractions at Cedar Point have been very favorable, and Valleyfair's dramatic new water ride, The Wave, is generating the high level of public awareness and approval that the Partnership had anticipated.
 The Partnership's three parks are: Cedar Point, located on Lake Erie between Cleveland and Toledo; Valleyfair, near Minneapolis/St. Paul; and the recently acquired Dorney Park and Wildwater Kingdom, near Allentown, Pa.
 CEDAR FAIR, L.P.
 SUMMARY STATEMENT OF OPERATIONS
 (unaudited)
 Three Months Ended
 (In thousands except June 28, 1992 June 30, 1991
 amounts per unit)
 Net revenues $ 41,600 $ 43,187
 Operating costs and expenses 25,287 25,290
 Depreciation and amortization 4,218 4,230
 Operating income $ 12,095 $ 13,667
 Interest expense 1,700 1,978
 Net income $ 10,395 $ 11,689
 Per Limited Partner Unit:
 Net income $ .49 $ .55
 Cash distributions declared $ .40 $ .3625
 Number of units outstanding 21,162 21,162
 Twelve Months Ended
 (In thousands except June 28, 1992 June 30, 1991
 amounts per unit)
 Net revenues $ 126,339 $ 132,285
 Operating costs and expenses 75,254 76,984
 Depreciation and amortization 10,308 10,274
 Operating income $ 40,777 $ 45,027
 Interest expense 5,851 6,889
 Net income $ 34,926 $ 38,138
 Per Limited Partner Unit:
 Net income $ 1.63 $ 1.78
 Cash distributions declared $ 1.60 $ 1.45
 Number of units outstanding 21,162 21,162
 -0- 8/5/92
 /CONTACT: Juris Pagrabs of Cedar Fair, L.P., 419-627-2293/
 (FUN) CO: Cedar Fair, L.P. ST: Ohio IN: ENT SU: ERN


KK -- CL007 -- 7112 08/05/92 12:48 EDT
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Date:Aug 5, 1992
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