FOR IMMEDIATE RELEASE
OGDEN ANNOUNCES AGREEMENT TO ACQUIRE
SILVER SPRINGS AND WLD WATERS
SILVER SPRINGS, Fla. (Feb. 27, 1996) ... Ogden Corporation (Ogden)
announced today that it has reached an agreement in principle to acquire
the long-term leasehold interest in Silver Springs and Wild Waters, as well
as other associated assets. Silver Springs/Wild Waters is a nature-based
attraction approximately 70 miles north of Orlando in Ocala, Florida. The
proposed agreement is contingent on obtaining the approval of the State of
Florida to an assignment of the current lease. It is anticipated that
senior management of Silver Springs and Wild Waters will continue to
operate the parks after the acquisition takes place. Terms of the proposed
agreement were not disclosed.
The addition of Silver Springs/Wild Waters expands Ogden's ongoing
portfolio of nature-based attractions. Ogden, through its previously
announced acquisition of Firehole Entertainment, owns Grizzly Park adjacent
to Yellowstone National Park. R. Richard Ablon, President and Chief
Executive Officer of Ogden, stated that the Silver Springs/Wild Waters
agreement is the first of several nature-based projects that are planned
for 1996. "The development of nature-based entertainment attractions are
an integral part of Ogden Entertainment's ongoing expansion into the live
and interactive entertainment experience," Ablon said. "We are excited
Page 2 ... OGDEN ANNOUNCES AGREEMENT TO ACQUIRE
about the unique opportunities that this particular theme park exhibits.
The addition of the creative and operating personnel as part of the Silver
Springs transaction is an additional benefit."
Ogden Corporation is a leading global service company focusing on
entertainment, aviation, and independent power.