2009-11-23 21:06:23 -

Universal City Development Partners, Ltd. (d/b/a “Universal Orlando”) announced today that UCDP Finance, Inc. and it (collectively, the “Issuers”), have completed the cash tender offer for their outstanding 11 3/4% senior notes due 2010 (the “Notes”). The tender offer, which commenced on October 23, 2009, expired at 11:59 p.m., prevailing eastern time, on November 20, 2009 (the “Expiration Time”).

As previously announced, at the termination of the consent solicitation, which occurred at 5:00 p.m., prevailing eastern time, on November 5, 2009 (the “Consent Solicitation Deadline”), the Issuers had received tenders and consents from holders of $391,313,000 in aggregate principal amount of the Notes, representing 78.263% of the outstanding Notes. On November 6, 2009, the Issuers accepted for payment, and paid for,

all Notes tendered prior to the Consent Solicitation Deadline.

Approximately 78.263% of the aggregate principal amount of the Notes were validly tendered during the tender offer period. As of the Expiration Time, approximately $108.7 million in aggregate principal amount of the Notes remained outstanding.

As previously announced, the Issuers received the requisite consents from holders of a majority of the aggregate principal amount of Notes outstanding with respect to the Proposed Amendments (as defined in the Tender Offer Documents) to the indenture (the “Indenture”) governing the Notes. Consequently, on November 5, 2009, the Issuers and the trustee executed a supplemental indenture to the Indenture which eliminated substantially all of the restrictive covenants and certain events of default. The supplemental indenture is binding on all non-tendered Notes.

Notes that were validly tendered and accepted have been canceled and will no longer be deemed to be outstanding.

J.P. Morgan Securities Inc., Banc of America Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated acted as dealer managers in connection with the tender offer and solicitation agents in connection with the consent solicitation. Questions regarding the tender offer or consent solicitation may be directed to J.P. Morgan Securities Inc. at (212) 270-1477 (collect).

D.F. King & Co., Inc. acted as the Information Agent for the tender offer and consent solicitation.

This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell any securities. The tender offer and consent solicitation were made only through and subject to the terms and conditions set forth in the Tender Offer Documents and related materials.

ABOUT UNIVERSAL ORLANDO


Universal Orlando Resort has created some of the world’s most innovative theme park attractions based on pop culture’s most compelling films and stories. Guests experience two exciting theme parks – Universal Studios and Universal’s Islands of Adventure as well as Universal CityWalk, a 30-acre restaurant, shopping and nighttime entertainment complex; and three magnificently themed on-site Loews hotels – the Loews Portofino Bay Hotel, Hard Rock Hotel and the Loews Royal Pacific Resort. Flagship experiences featured in the theme parks include “The Simpsons Ride,” “Revenge of the Mummy – The Ride,” “The Incredible Hulk Coaster” and “The Amazing Adventures of Spider-Man.” More information is available at www.universalorlando.com : .

At Universal Studios in 2009, Universal Orlando opened Hollywood Rip Ride Rockit, the most technologically advanced roller coaster in the world and – coming in 2010 – the highly anticipated Wizarding World of Harry Potter will open in Universal’s Islands of Adventure.



Universal Orlando Public RelationsTom Schroder, Senior Director,

407-363-8220 media.universalorlando.com :