Six Flags Streamlines Company Operations, Moves Headquarters to New York; Oklahoma City Office to Close; Company Will Put OKC-Ba

As part of its ongoing reorganization efforts, Six Flags
(NYSE: PKS) announced today its intention to consolidate Six Flags
corporate operations, significantly expanding its presence in New York
City; to close its office in Oklahoma City; and to sell its Oklahoma
City-based parks. These moves mark further efforts in the company's
strategy to streamline operations and focus on major market parks
which have the most opportunity for growth.
   "We continue to evaluate every asset in the Six Flags portfolio
with a mission of improving shareholder value," said Mark Shapiro, Six
Flags President and CEO. "We're beginning a drive to implement
operational strategies that will help reduce debt load and strengthen
our brand."
   Shapiro added, "A strong corporate identity in New York -- a major
world entertainment, media and financial capital -- is a vital
component of our agenda as we position Six Flags as one of America's
leading family entertainment destinations." The company also maintains
a small corporate presence in Grand Prairie, TX.
   In an additional move designed to further streamline the company's
operations, Six Flags will be putting its Oklahoma City-based Frontier
City and White Water Bay parks on the market. The sale, to be handled
by the Staubach Company, is expected to take effect after the 2006
season; both parks will be fully operational during the 2006 season.
The sale is subject to the approval of Six Flags' bank lenders.
Proceeds would be used for debt reduction and general corporate
purposes.
   "While it's obviously our intention to derive the highest value
possible for our shareholders in this action, we fully expect that we
will do so by selling them as theme parks which continue to operate as
such over the long haul," said Shapiro.
   Six Flags, Inc. is the world's largest regional theme park
company.

   Forward Looking Statements:

   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 Securities Exchange Act. These statements may involve risks and
uncertainties that could cause actual results to differ materially
from those described in such statements. These risks and uncertainties
include, among others, the costs of reviewing and responding to the
unsolicited offer and consent solicitation, and other impacts of the
proposed offer on Six Flags' operations. 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. Important factors, including factors impacting
attendance, such as local conditions, events, disturbances and
terrorist activities, risks of accidents occurring at Six Flags'
parks, adverse weather conditions, general economic conditions
(including consumer spending patterns), competition, pending,
threatened or future legal proceedings and other factors could cause
actual results to differ materially from Six Flags' expectations.
Reference is made to a more complete discussion of forward-looking
statements and applicable risks contained under the captions
"Cautionary Note Regarding Forward-Looking Statements" and "Business -
Risk Factors" in Six Flags' Annual Report on Form 10-K for the year
ended December 31, 2004, which is available free of charge on Six
Flags' website at www.sixflags.com