Malibu Entertainment Worldwide Amends Credit Facility

Apr 27, 2001, 01:00 ET from Malibu Entertainment Worldwide, Inc.

    DALLAS, April 27 /PRNewswire/ -- Malibu Entertainment Worldwide, Inc.
 (OTC Bulletin Board:   MBEW) today announced that the Company and its primary
 lender agreed to an amendment of the Company's credit agreement.
     The credit agreement, under which $15.5 million of secured debt is
 outstanding, has been amended to extend the mandatory date for payment of
 $6.5 million from April 30, 2001 to May 31, 2001.
     The Company is continuing its strategic plan to divest certain assets,
 which may include sale-leaseback arrangements and other property management
 arrangements, in an effort to generate cash to fund its working capital, debt
 service and capital expenditure requirements and to repay indebtedness.  There
 can be no assurance that the Company will be able to complete such
 divestitures, or, if so, as to the timing, terms or effects thereof.
     As previously announced, if the Company is unsuccessful in selling these
 assets, in securing certain sale-leaseback arrangements, in obtaining other
 financing or in modifying the terms of its existing indebtedness or if the
 proceeds of such sales are significantly less than their estimated value, the
 Company may be required to sell other assets, significantly alter its
 operations or take other extraordinary steps to preserve cash and satisfy its
 obligations.  If the Company is unable to take such actions or they are not
 sufficient to permit the Company to pay the lender, the Company may seek or be
 forced to seek to restructure or reorganize its liabilities, including through
 proceedings under the federal bankruptcy laws.
     Headquartered in Dallas, Texas, Malibu Entertainment Worldwide, Inc. is a
 leader in the location-based entertainment industry, operating 17 parks in
 7 states under the SpeedZone, Malibu Grand Prix and Mountasia brands,
 primarily clustered in Texas, California, Georgia and Florida.
     The Company's plans, estimates and beliefs concerning the future contained
 in this press release are forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995.  Actual results may differ
 materially from those reflected herein due to a variety of factors that could
 effect the Company's operating results, liquidity and financial condition,
 such as risks associated with the Company's need to generate cash, general
 economic conditions, the ongoing need for capital improvements, changes in
 demographics, competitive considerations and other factors.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X12136018
 
 

SOURCE Malibu Entertainment Worldwide, Inc.
    DALLAS, April 27 /PRNewswire/ -- Malibu Entertainment Worldwide, Inc.
 (OTC Bulletin Board:   MBEW) today announced that the Company and its primary
 lender agreed to an amendment of the Company's credit agreement.
     The credit agreement, under which $15.5 million of secured debt is
 outstanding, has been amended to extend the mandatory date for payment of
 $6.5 million from April 30, 2001 to May 31, 2001.
     The Company is continuing its strategic plan to divest certain assets,
 which may include sale-leaseback arrangements and other property management
 arrangements, in an effort to generate cash to fund its working capital, debt
 service and capital expenditure requirements and to repay indebtedness.  There
 can be no assurance that the Company will be able to complete such
 divestitures, or, if so, as to the timing, terms or effects thereof.
     As previously announced, if the Company is unsuccessful in selling these
 assets, in securing certain sale-leaseback arrangements, in obtaining other
 financing or in modifying the terms of its existing indebtedness or if the
 proceeds of such sales are significantly less than their estimated value, the
 Company may be required to sell other assets, significantly alter its
 operations or take other extraordinary steps to preserve cash and satisfy its
 obligations.  If the Company is unable to take such actions or they are not
 sufficient to permit the Company to pay the lender, the Company may seek or be
 forced to seek to restructure or reorganize its liabilities, including through
 proceedings under the federal bankruptcy laws.
     Headquartered in Dallas, Texas, Malibu Entertainment Worldwide, Inc. is a
 leader in the location-based entertainment industry, operating 17 parks in
 7 states under the SpeedZone, Malibu Grand Prix and Mountasia brands,
 primarily clustered in Texas, California, Georgia and Florida.
     The Company's plans, estimates and beliefs concerning the future contained
 in this press release are forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995.  Actual results may differ
 materially from those reflected herein due to a variety of factors that could
 effect the Company's operating results, liquidity and financial condition,
 such as risks associated with the Company's need to generate cash, general
 economic conditions, the ongoing need for capital improvements, changes in
 demographics, competitive considerations and other factors.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X12136018
 
 SOURCE  Malibu Entertainment Worldwide, Inc.