Cedar Fair Board Refuses to Listen to its Investors and Give Them the Right to Nominate Directors

FT. WORTH, Texas, June 13, 2011 /PRNewswire/ -- Q Funding III, L.P. and Q4 Funding, L.P. (together, "Q Investments") today thanked Cedar Fair (NYSE: FUN) unitholders, who turned out in large numbers on June 2, 2011, and overwhelmingly supported a special vote to give unitholders the right to nominate directors to the company's Board of Directors. Despite overwhelming support for the measure – more than 70 percent of the outstanding units were voted and more than 95 percent of those units supported the measure – Cedar Fair's Board is still refusing to consider changes that would give unitholders the right held by almost every other public company in America.

A full text of the letter sent to unitholders is below:

Dear Fellow Cedar Fair Unitholders:

Thank you for your vote. We apologize for the numerous mailings over the last few weeks, but wanted to make sure that each unitholder had the opportunity to voice his or her opinion.

The results are in, and unitholders overwhelmingly voted for the right to nominate directors:

• 70% of all unitholders voted.
• 95% of everyone who voted supported giving unitholders the right to nominate directors.
• Therefore – over 67% of ALL units outstanding supported the amendments.

The last time the company made similar changes in 2004, it only took a vote of 66 2/3%.

But this time, the board is refusing to use this same method to do what clearly the overwhelming majority want in what we can only surmise is a self-interested attempt to keep their board seat that pays each of them over $200,000 per year!

This board has let you down. You took the time to vote and tell the board what you wanted, and they are not doing it. They owe all of us an apology.

Sincerely yours,

Q Funding III & Q4 Funding

SOURCE Q Investments