Six Flags Commences Offering of New Senior Notes to Repay Existing Ind

    Business Editors

    NEW YORK--(BUSINESS WIRE)--Jan. 5, 2005--Six Flags, Inc. (NYSE: PKS) announced today that it has commenced an offering of $195 million aggregate principal amount of its 9-5/8% senior notes due 2014, pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The notes will be issued as additional debt securities under an indenture pursuant to which, on December 5, 2003, the Company previously issued and sold $325 million aggregate principal amount of its 9-5/8% senior notes due 2014.
    The net proceeds of the offering will be used to redeem all of the Company's outstanding 9 1/2% senior notes due 2009, that have not been previously called for redemption.
    The securities to be offered have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States, absent registration or an applicable exemption from such registration requirements.

    This announcement is not an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although Six Flags believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.

    This release and prior releases are available on the Company's website at www.sixflags.com.

--30--KL/ny*

CONTACT: For Six Flags, Inc. Jim Dannhauser, 212-599-4693 or KCSA Joseph A. Mansi, 212-896-1205 jmansi@kcsa.com or Erika Levy, 212-896-1208 elevy@kcsa.com

KEYWORD: NEW YORK INDUSTRY KEYWORD: ENTERTAINMENT BANKING SOURCE: Six Flags, Inc.

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