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                                                                      EXHIBIT 99



          FLORIDA PANTHERS HOLDINGS RAISES $68 MILLION IN PRIVATE PLACEMENT



         Ft. Lauderdale, Florida (January 28, 1997) -- Florida Panthers
Holdings, Inc. (NASDAQ: PUCK) announced today that it has accepted subscriptions
from certain institutional investors in connection with a private placement
transaction for the sale of 2.46 million shares of its Class A Common Stock, at
a purchase price of $27.75 per share, for an aggregate amount of $68,265
million. Proceeds from this sale will be used for general corporate purposes.

         The securities offered in this transaction were not registered under
the Securities Act of 1933 and may not be offered or sold in the United States
absent registration under the Act or an applicable exemption therefrom. This
release does not constitute an offer to sell or the solicitation of an offer to
buy common stock of Florida Panthers Holdings.

         Florida Panthers Holdings, Inc. owns the Florida Panthers Hockey Club,
the Arena Development and Arena Operating companies and an interest in the
Miami Arena; and has a pending acquisition of the Hyatt Pier 66 and Radisson
Bahia Mar resort hotels and marinas and Incredible Ice, a state-of-the-art
skating facility.


                                        
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