Marcus Hotels and Resorts to Manage 7th Wave Water Park Resort Near Providence, Rhode Island

MARCUS HOTELS AND RESORTS TO MANAGE 7TH WAVE WATER PARK RESORT NEAR PROVIDENCE, RHODE ISLAND

$150 Million Resort Will Be the Company’s First Managed Property in the Northeastern U.S.

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Milwaukee, Wis., May 7, 2008…..Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced it has been selected by Dial Family Resorts, headquartered in Omaha, Neb., to manage the new 7th Wave Resort, a $150 million water park project to be built just south of Providence in West Warwick, R.I.

The 7th Wave Resort is a Hawaiian and surfer-themed destination resort that will feature 409 rooms, a 75,000 square foot indoor water park, 53,000 square feet of outdoor space and 12,000 square feet of flexible meeting space. Guests will be able to enjoy a variety of entertainment options, including a family dinner theater, a themed restaurant, two lounges, a rejuvenating spa, retail stores, an arcade and many other amenities. Construction is scheduled to begin in August 2008, with opening slated for the first quarter of 2010.

Marcus Hotels and Resorts is currently providing preopening services and will manage the property under a long-term contract when it opens. The 7th Wave Resort will be the third water park property in the Marcus Hotels and Resorts portfolio.

“The 7th Wave Resort is a great addition to our portfolio. As the only water park resort of its size in the Providence area, its 460,000 square feet of entertainment activities will draw families and guests from throughout the region. We look forward to working with Dial Family Resorts and to bringing our broad resort and water park management experience to this exciting new family destination,” said Bill Otto, president of Marcus Hotels and Resorts.

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“Marcus Hotels and Resorts is an excellent fit for the 7th Wave Resort and Dial Family Resorts. Our two companies share a commitment to providing an exceptional guest experience through the amenities we offer and the excellent service provided by our associates. We were impressed with the quality of the Marcus Hotels and Resorts portfolio, the company’s experience in managing a variety of upscale properties including other water parks, and the operations infrastructure they bring to the project,” said Michael Day, president of the Dial Companies. “Our goal is to create a fun and relaxing environment that will allow families to escape from the daily pressures of life by enjoying the many amenities and activities this destination water park resort will offer.”

Located along I-95, the major interstate that spans the entire east coast, the 7th Wave Resort will have excellent visibility. The project is within five miles of East Greenwich located on Narragansett Bay, offering many restaurants, boutique shops and other entertainment venues, and within 25 miles of the world-renowned town of Newport, R.I., where guests can view stately mansions along the ocean.

Marcus Hotels and Resorts built the first indoor waterpark in an urban hotel at its company-owned and operated Hilton Milwaukee City Center and also manages the Timber Ridge Lodge and Water Park in Lake Geneva, Wis.

“The 7th Wave Resort is a key win in our strategy to increase our number of management contracts and to geographically expand our presence. As our first property under management in the Northeast, the 7th Wave Resort accomplishes both objectives with a project that will be truly exceptional,” added Otto.

About Marcus Hotels and Resorts

Marcus Hotels and Resorts owns or manages 20 hotels, resorts and other properties in ten states, with three additional properties under development. The company owns eight hotels and is a third-party manager for 12 hotels, resorts and other properties. In addition to providing preopening services for the 7th Wave Resort in West Warwick, R.I., the company is also providing technical services for the development of the Venturella Resort and Spa in Orlando, Fla. and the Carmel City Center

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Hotel in Carmel, Ind. The company will manage all three properties when they open. For more information, please visit www.marcushotels.com.

About The Marcus Corporation

Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the lodging and entertainment industries. In addition to its Marcus Hotels and Resorts division, the company’s movie theatre division,

Marcus Theatres®, owns or manages 678 screens at 56 locations in Wisconsin, Illinois, Minnesota, Ohio, North Dakota, Iowa and Nebraska, and one family entertainment center in Wisconsin. For more information, visit the company’s Web site at www.marcuscorp.com.

About Dial Family Resorts

Founded in 1959, Dial Family Resorts, a subsidiary of the Dial Companies, operates as a family entertainment resort company in the northeastern United States. Dial Family Resorts was formed to own and develop drive-to family resorts featuring indoor water parks and other family-oriented entertainment activities. Corporately headquartered in Omaha, Nebraska, the Dial Companies develop, construct, manage and lease multi-family, senior housing, retail and office developments mainly located throughout Nebraska, Iowa and the Illinois marketplace. For more information, please visit www.dialcompanies.com.

Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States’ responses thereto and subsequent hostilities; and (9) the successful integration of the Douglas Theatre Company theatres into our theatre circuit. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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