Universal Orlando Plans Financings

Universal Orlando Plans Financings ORLANDO, Fla., Nov. 19 /PRNewswire/ -- Universal City Development Partners, Ltd. ("Universal Orlando"), a Florida partnership that owns and operates two theme parks, Universal Studios Florida and Islands of Adventure, in Orlando, Florida, announced today that, subject to market and other conditions, it anticipates amending its current bank facility and that the two partnerships (Universal City Florida Holding Co. I and Universal City Florida Holding Co. II) that own Universal Orlando anticipate issuing $450 million of fixed and floating rate notes. The amended credit agreement is expected to provide a $100 million revolving credit facility and a $550 million term loan, maturing in 2010 and 2011 respectively. The note issue is expected to mature in 2010. The proceeds of the note issue will be distributed to NBC Universal and Blackstone entities that each own, indirectly, 50% of the two partnerships. The notes will not be registered under the Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Universal Orlando resort destination (http://www.universalorlando.com/) includes two dramatically distinct and adjacent theme parks, the Universal Studios motion picture and television theme park and Islands of Adventure, Orlando's next generation theme park. Universal Orlando also includes CityWalk, a 30-acre dining, shopping, club and live-entertainment venue as well as premier on-site Loews hotels and world-class film and television production facilities. Some of the statements in this press release are forward-looking in nature. Actual results may differ materially from those anticipated in such forward-looking statements. We believe that the principal risk factors relate to the conditions of the bank and securities markets generally and as they relate to our business; the reception of the proposed financings by the rating agencies and by banks and investors; the terms that the market places may require for successful completion of the financings and whether they are acceptable to our business and to our partners. Additional information concerning other important factors related to our business can be found in our filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors. Source: Universal Orlando CONTACT: Cynthia Gordon, +1-407-319-0164, or Tom Schroder, +1-407-363-8220, both of Universal Orlando Web site: http://www.universalorlando.com/ ------- Profile: International Entertainment