FLORIDA PANTHERS HOLDINGS, INC. NOW MANAGING ARIZONA BILTMORE RESORT & SPA

Press Release: Florida Panthers Holdings, Inc.

July 29,1999
FORT LAUDERDALE, FL-- Florida Panthers Holdings, Inc. (NYSE: PAW) announced Tuesday that its wholly owned subsidiary has assumed all management responsibilities for the company's Arizona Biltmore Resort and Spa property in Phoenix, Arizona. The Arizona Biltmore terminated its management contract with AZB Limited Partnership on June 9.

David Feder, who will oversee management of the Arizona Biltmore, has been appointed Senior Vice President Managing Director of the Resort. Feder has 20 years experience in the hospitality industry and most recently was Vice President and General Manager of the Boca Raton Resort & Club located in Boca Raton, Florida. Feder previously held management positions with the Breakers in Palm Beach, Florida, The Plaza in New York and the St. Francis Hotel in San Francisco.

In response to its termination, the former manager has filed lawsuits in Arizona state court against the Panthers and its affiliates.

Florida Panthers Holdings spokesperson Stan Smith stated, ``The lawsuits filed by the Arizona Biltmore's former management are not only without merit but are an outrageous response to the basic fact that they were rightfully terminated.''

Florida Panthers Holdings, Inc. owns the Boca Raton Resort & Club, the Registry Resort, the Edgewater Beach Hotel, the Hyatt Regency Pier 66 Resort and Marina, the Radisson Bahia Mar Resort and Yachting Center and Grande Oaks Golf Club. The Company also owns the Florida Panthers Hockey Club and interests in the operations of the National Car Rental Center located in Sunrise, Florida and the Miami Arena.