Great Wolf Resorts, Inc. Extends Consent Solicitation For 10.875% First Mortgage Notes Due 2017

Great Wolf Resorts, Inc. (NASDAQ: WOLF) (“ Great Wolf”) announced today that it has further extended the expiration date of its previously announced consent solicitation (the “ Consent Solicitation”) with respect to the 10.875% First Mortgage Notes due 2017 (the “ Notes”) issued by its wholly-owned subsidiaries GWR Operating Partnership, L.L.L.P. and Great Wolf Finance Corp. (together, the “ Issuers”), seeking the consent of at least a majority of the aggregate principal amount of all outstanding Notes to (i) waive the obligation to make a “Change of Control Offer” under the indenture relating to the Notes (the “ Indenture”) by amending the Indenture to exclude certain permitted holders, including affiliates of Apollo Global Management LLC (“ Apollo”), from the definition of “Change of Control” (the “ Proposed COC Amendment”) and (ii) modify certain restrictive covenants in the Indenture (the “ Proposed Covenant Amendments”), in each case, subject to the terms and conditions described in the Consent Solicitation Statement, dated March 13, 2012 (as may be amended or supplemented from time to time) and the accompanying Consent Letter.

The Consent Solicitation was previously scheduled to expire at 5:00 p.m., New York City time, on March 27, 2012. The Issuers have extended the deadline for the Consent Solicitation to 5:00 p.m., New York City time, on Friday, March 30, 2012, unless further extended.

Except as set forth herein, the complete terms and conditions of the consent solicitation remain the same as set forth in the Consent Solicitation Statement, dated March 13, 2012 (as may be amended or supplemented from time to time), and the accompanying Consent Letter previously distributed to eligible holders of Notes.

Any inquiries regarding the Consent Solicitation may be directed to D.F. King & Co., Inc., the Information, Tabulation and Paying Agent for the Consent Solicitation, at (212) 269-5550 (collect) or (800) 859-8511 (toll free), or to the Joint Solicitation Agents for the Consent Solicitation, Morgan Stanley & Co. LLC, at (212) 761-1057 (collect) or (800) 624-1808 (toll free) and UBS Investment Bank, at (203) 719-4210 (collect) or (888) 719-4210 (toll free).

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