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Affiliates Of Apollo Global Management And Great Wolf Resorts Announce Agreement To Extend Previously Announced Tender Offer For All Outstanding Common Stock Of Great Wolf Resorts

K-9 Acquisition, Inc. (the “Offeror”), an affiliate of Apollo Global Management (NYSE: APO) (“Apollo”), and Great Wolf Resorts, Inc. (NASDAQ: WOLF) (“Great Wolf”), announced today that they have extended the previously announced cash tender offer for all outstanding Great Wolf shares (the “Offer”) for a period of 10 business days.

The Offeror is extending the expiration of the Offer until 9:00 a.m., New York City time, on April 20, 2012, unless further extended or earlier terminated. The Depositary has informed the Offeror that, as of 5:00 p.m. on Wednesday, April 4, 2012, 1,390,192 shares of common stock have been validly tendered and not validly withdrawn.

Except as set forth herein, the complete terms and conditions of the Offer remain the same as set forth in the Offer to Purchase dated March 13, 2012, and the related letters of transmittal.

The Offeror will amend its Tender Offer Statement filed with the Securities and Exchange Commission (the “SEC”) to reflect this extension.

In addition, K-9 Investors, L.P. (the “Holding Partnership”), an affiliate of Apollo, announced today that it has extended the previously announced change of control offer (the “Change of Control Offer”) for all of the outstanding 10.875% First Mortgage Notes due 2017 (the “Notes”) so that the Change of Control Offer will expire simultaneously with the Offer.

The Change of Control Offer was previously scheduled to expire at 9:00 a.m., New York City time, on April 13, 2012. The Holding Partnership is extending the expiration of the Change of Control Offer until 9:00 a.m., New York City time, on April 20, 2012, unless further extended or earlier terminated. Accordingly, the tender deadline under the Change of Control Offer is extended to 5:00 p.m., New York City time, on April 17, 2012 and the withdrawal deadline under the Change of Control Offer is extended to 5:00 p.m., New York City time, on April 18, 2012. The Tender Agent under the Change of Control Offer has informed the Holding Partnership that, as of 5:00 p.m. on Wednesday, April 4, 2012, no Notes have been properly tendered in the Change of Control Offer.

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