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Warner Village Theme Parks $65 Million Expansion September 16 2005

Group commits to massive expansion to drive Gold Coast tourism

Warner Village Theme Parks on Australia�s Gold Coast have announced an unprecedented $65 million expansion plan in recognition of the need to continue to grow visitor numbers to the holiday region through innovative and contemporary new attractions and entertainment experiences.

As a major driving force behind building tourism business for the Gold Coast region, Australia�s largest and most celebrated theme park group, employing some 2,500 staff plans to diversify and enhance their current product offerings by introducing even more unique and groundbreaking attractions to lure holidaymakers.

In addition to two dynamic new attractions at Warner Bros. Movie World and a multi-million dollar expansion program for Wet�n�Wild Water World, will be the 2006 launch of �Australian Outback Spectacular�, a unique and exciting dinner show attraction which will be the first of its kind in Australia.

This huge capital injection will extend Warner Village Theme Parks� already well established reach into major consumer markets both domestically and internationally, and further support the Group�s commitment to building the Gold Coast�s tourism profile and nurturing the growth of the tourism industry throughout the region by extending business and employment opportunities within the local community.

The exciting expansion underway includes:

Warner Bros. Movie World

Traditionally home to the biggest and best movie themed attractions, Warner Bros. Movie World will bring out the big guns of the world�s most popular brands with the September 2005 launch of DreamWorks� �Shrek 4D Adventure� and the December 2005 launch of �Superman Escape�.

Opening September 17, �Shrek 4D Adventure� is a cutting edge multi-sensory attraction � a totally new movie with spectacular visuals and multiple special effects yet to be seen, heard and felt in a �4D� attraction in Australia.

�Shrek 4D Adventure� will bridge the narrative between DreamWorks� Oscar� - winning movie �Shrek�� - �the greatest fairy-tale never told� and the sequel from DreamWorks Pictures, �Shrek 2�� and once again feature the comic talents of Mike Myers, Eddie Murphy, Cameron Diaz and John Lithgow who give voice to the swamp-dwelling ogre, Shrek�, his faithful chatterbox companion, Donkey; his bride, Princess Fiona; and the vengeful ghost of Lord Farquaad.

Guests visiting Warner Bros. Movie World will also have the chance to meet the big, green and loveable ogre Shrek and his new bride Princess Fiona, who will join the star-studded cast of characters appearing in the Park daily.

In December, Warner Bros. Movie World will launch its most awesome new ride experience to date � �Superman Escape�. This exhilarating ride experience will be the first of its kind in the world, with an exciting pre-show adventure themed around the world�s most popular super hero. �Superman Escape� has been specifically chosen as a catalyst to build the family and teen market visitation to the Park.

Wet�n�Wild Water World

Wet�n�Wild Water World�s $20M expansion includes a massive new children�s attraction - the all-new Buccaneer Bay, opening September 17, as well as the Boxing Day launch of an incredible new thrill slide precinct offering adrenaline junkies the ultimate extreme aquatic experiences.

�Extreme H2O Zone� will be located behind Calypso Beach and showcase seven oversized thrill slides like nothing ever seen before in Australia including the Mach V attraction which will house the Park�s two longest rides that will have guests sliding through 160 metres of twists and turns in open air flumes as well as three adrenaline pumping high speed body slides. Extreme H2O Zone will also feature Blackhole - two enclosed slides that will catapult riders into pitch black spirals of darkness.

By the busy Christmas holidays, the Park will literally have increased in size by one-third and offer the biggest and best selection of water based rides and slides anywhere in the world, whilst simultaneously increasing the capacity by 50%, reducing queue times of the Park in line with its ever growing popularity.

But the excitement won�t stop there. Next year will see the launch of yet another thrill slide - Tornado, adding a further dramatic dimension to Wet�n�Wild�s total entertainment offering and cementing the Park�s position as the country�s leading water park, and one of the best of its kind in the world.

Sea World

Sea World will take its popular Ski Show through a total revamp this September, transporting the dynamic presentation back in time to the �Golden Era� of Surfers Paradise in the 1960s. �Waterski WipeOut� is full of catchy tunes, colourful costumes and sets, slapstick humour and a very cool cast of characters, all themed in true 1960s style.

Australian Outback Spectacular

Australian Outback Spectacular is an enthralling new show extravaganza which will provide domestic and international visitors with a unique and exciting night time experience, simultaneously fulfilling the current desire for additional night time attractions on the Gold Coast for all age groups, and enriching the destination�s overall appeal as one of the world�s leading holiday destinations.

Australian Outback Spectacular will be the first of its kind in Australia. A unique and exciting show capturing the grandeur of the Australian Outback with spectacular visual effects and raw energy all its own, the attraction will open April 2006 and be situated between Warner Bros. Movie World and Wet�n�Wild Water World, and be officially presented by R.M. Williams.

Australian Outback Spectacular will have a capacity of 1,000 seats and include a full Aussie BBQ dinner served during the heat of the show.

The new �Waterski WipeOut� and �Australian Outback Spectacular� were written and choreographed by Ignatious Jones, the creative genius behind the Sydney 2000 Olympics opening ceremony.

Chief Executive Officer of Warner Village Theme Parks, Mr John Menzies comments that the expansion plan will confirm the Group�s position as the leaders in premiere theme park entertainment in Australia.

�The scope of this expansion program is unprecedented in the history of the Warner Village Theme Park Group, and the history of theme park entertainment in this country. We are expanding our horizons considerably in an effort to provide the ultimate entertainment experiences for people of all ages, which are comparable to anything found anywhere else in the world.

�We also believe our efforts will contribute greatly to the overall appeal of the Gold Coast as the country�s leading holiday destination � now visitors from all over Australia and the world will have even more reason to come here and experience all this wonderful destination has to offer. Warner Village Theme Parks are committed to the tourism industry, and this can be qualified by our plans to introduce contemporary new entertainment experiences which will provide huge enjoyment for people of all ages visiting the region.�

Each expansion phase will be supported by mammoth marketing programs Australia wide, and in major international markets including New Zealand, South East Asia, Japan, India and the UAE.