Silver Dollar City, Inc. Changes Name, Leadership; Herschend Family Entertainment Corporation Names Atlantan as New CEO

Business Wire, Feb 4, 2003

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BRANSON, Mo.--(BUSINESS WIRE)--Feb. 4, 2003

Silver Dollar City, Incorporated, the parent company of Silver Dollar City park, Dollywood theme park (in partnership with Dolly Parton) and numerous other tourist-related properties, has changed its name and selected a new President and CEO. The company has been renamed the Herschend Family Entertainment Corporation (HFEC), after the family that originated the Branson, Missouri-based company more than 40 years ago, and is now headed by Atlantan Joel Manby, former Chairman of the company's Board of Directors. Manby will remain based in Atlanta, while HFEC headquarters will remain in Branson with numerous Herschend family members continuing their involvement in top management of the family-owned company which has 15 properties in five states.

While Silver Dollar City, Inc. is long recognized for excelling on the promise to present the best in family entertainment, representatives believe Herschend Family Entertainment Corporation better reflects what the company stands for in America's theme park and attractions industry today. The corporate name change does not affect any of the individual properties, as each property retains its name, including the Silver Dollar City theme park itself.

Manby, 43, the new CEO and President, lives in Atlanta, Georgia, where HFEC operates Stone Mountain Park in partnership with the State of Georgia. Manby's resume includes an MBA from Harvard Business School; serving as CEO of SAAB Motor Cars, USA during a period of market share expansion and dramatic sales growth; and serving as one of the original leaders for the Saturn Corporation and a founding member of its marketing team. Manby also concepted and developed Family Wise, a non-profit, Christian ministry focusing on America's families.

Nelson Schwab, HFEC Board member since 1986, replaces Manby as Chairman of the Board. Schwab, 58, has a resume that includes extensive park industry leadership, having served as chairman of Paramount Parks, CEO of Kings Entertainment Company, and as an executive vice president of Taft Broadcasting. He is a founding partner of the national merchant-banking firm, Carousel Capital, based in Charlotte, North Carolina.

Currently, Herschend Family Entertainment is building a new $40 million theme park in Branson called Celebration City, with a theme highlighting the most colorful eras of the 20th Century.

Operating with 5000 employees, the HFEC properties entertain more than 10 million guests annually. The properties have been internationally awarded numerous times for excellence in theme, presentation and operations, including the worldwide Applause Award for Excellence and the THEA Award (Themed Entertainment Assoc.).

HFEC encompasses 15 properties in five states including: Branson, Missouri's Silver Dollar City, Showboat Branson Belle, White Water, The Grand Village, Talking Rocks Cavern, Ride the Ducks (plus partnering in corporate expansion in numerous states), Silver Dollar City Campground and Celebration City (opening in spring 2003); Pigeon Forge, Tennessee's Dollywood and Dolly's Splash Country with partner Dolly Parton; Atlanta, Georgia's Stone Mountain Park; and Dixie Stampede dinner attractions located in Branson, Pigeon Forge, Myrtle Beach and Orlando (opening in May 2003), all with partner Dolly Parton.

Complete SDC property information is available at www.silverdollarcity.com.

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