Gaylord Entertainment Reaches Settlement with Nashville Predators

Gaylord Entertainment Reaches Settlement with Nashville Predators

    Business Editors/Entertainment Editors

    NASHVILLE--(BUSINESS WIRE)--Feb. 22, 2005--Gaylord Entertainment Company (NYSE: GET):

--	Parties Resolve Legal Issues
--	Gaylord's Ownership Interest in Predators Redeemed and Naming Rights Agreement Terminated

    Gaylord Entertainment Company (NYSE: GET) has negotiated a settlement with the Nashville Hockey Club Limited Partnership (the Nashville Predators) that resolves issues between the organizations.

    The settlement agreement calls for the following terms:

    -- The Predators will redeem all of the outstanding limited
    partnership units in the Predators owned by Gaylord as partial
    payment for Gaylord's Naming Rights Agreement, effectively
    ending Gaylord's ownership in the Predators; and the Naming
    Rights Agreement with the Predators for the arena will be
    terminated; and

    -- Gaylord also will make a one-time cash payment to the
    Predators of $4 million and has agreed to issue a five-year,
    $5 million promissory note with interest at 6 percent per
    annum to the Predators. The note will be payable at $1 million
    per year for five years, with the first payment due on the
    first anniversary of the resumption of hockey in Nashville.

    "Gaylord Entertainment was instrumental in bringing hockey to Nashville with its multimillion Dollar investment in the team, by being the single largest purchaser of tickets and by providing a long-term naming rights agreement," said Colin V. Reed, president and chief executive officer of Gaylord Entertainment. "It has been Gaylord's desire to extract itself from its non-core businesses and focus the enterprise on growing its hospitality and Grand Ole Opry brands. However, we recognize the importance of local support to the Predators and we will remain supporters and fans of the team."
    "We are most appreciative of Gaylord's past and future support," said Predators owner Craig Leipold. "The Predators would not be in Nashville today without the initial local ownership involvement of Gaylord. Our two parties had a difference of opinion as to resolution of two agreements and we have worked through those differences to avoid courtroom proceedings. We wish Gaylord well and look forward to having their support as we move forward."
    The Gaylord Entertainment name will remain on the arena, though the Predators will begin the process of securing a new naming rights partner; but Gaylord will have no further contractual obligations with respect to the naming rights. Under terms of the agreement, Gaylord will continue to support the team through the retention of its suite at the arena, its purchase of tickets, and advertising at Predators home games.

    About Gaylord Entertainment

    Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates three industry-leading brands - Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts; ResortQuest (www.resortquest.com), the nation's largest vacation rental property management company; and the Grand Ole Opry (www.opry.com), the weekly showcase of country music's finest performers for 79 consecutive years. The company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Springhouse Links, Wildhorse Saloon and WSM-AM. For more information about the company, please visit www.gaylordentertainment.com.

--30--RC/ny*

CONTACT: Investor Relations Contacts: Gaylord Entertainment David Kloeppel, CFO 615-316-6101 dkloeppel@gaylordentertainment.com or Gaylord Entertainment Key Foster 615-316-6132 kfoster@gaylordentertainment.com or Media Contacts: Gaylord Entertainment Greg Rossiter, VP of Corporate Communications 615-316-6302 grossiter@gaylordentertainment.com or Sloane & Company Dan O'Connor 212-446-1865 doconnor@sloanepr.com

KEYWORD: TENNESSEE INDUSTRY KEYWORD: SPORTS LEGAL/LAW TRAVEL ENTERTAINMENT SOURCE: Gaylord Entertainment Company

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