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                                                                      EXHIBIT 99





FLORIDA PANTHERS HOLDINGS, INC. REACHES AGREEMENT TO ACQUIRE 
THE ARIZONA BILTMORE


FORT LAUDERDALE, Fla., Dec. 19 /PRNewswire/ - Florida Panthers Holdings, Inc.
(NYSE: PAW-news) announced today that is has reached an agreement to acquire
the Arizona Biltmore in partnership with its current owners Grossman Company
Properties.  The prestigious resort was designed by famed architect Frank Lloyd
Wright in 1929.

The Biltmore is located in the Squaw Peak foothills of Phoenix and sits on 39
acres with 620 rooms and suites and five restaurants situated throughout the
resort.  Large group meetings are located in The Pavilion, which seats banquets
of up to 1,200 people.  Three other meeting rooms augment more than 54,000
square feet of modern meeting space.  Among several growth initiatives are
plans for a 120-room expansion at the resort.

H. Wayne Huizenga, Chairman of Florida Panthers Holdings, Inc. stated, "The
Arizona Biltmore is our first entree outside Florida and validates our strategy
of expansion from east to west operating premiere one-of-a-kind properties.
The Biltmore, when added to our other resort properties such as the Boca Raton
Resort and the Registry Resort in Naples, Florida, brings our portfolio to
five unique flagship properties, all of which has been accomplished in less
than one year."

"We are delighted to be associated with Wayne Huizenga and Florida Panthers
Holdings, Inc. in this venture.  We will continue to operate and manage the
Arizona Biltmore, and assume an advisory role with Panthers Holdings in
support of the efforts to continue to acquire and build the preeminent high
end resort group in the U.S.," said Sam Grossman, Chairman of the Phoenix-based
development company.

The Biltmore guests enjoy two 18-hole championship courses with an 18-hole
putting course and other practice facilities.  The resort has three outdoor spas
and five swimming pools and guests can enjoy Paradise Pool's 92-foot slide.  The
Biltmore Spa is complete with state-of-the-art exercise equipment.

The consideration to be paid is $225 million in a combination of cash and stock
in Florida Panthers Holdings, Inc. Class A common shares.  There will be an
assumption of $63.5 million of debt.

Florida Panthers Holdings, Inc. owns the Boca Raton Resort & Club, the Registry
Resort in Naples, the Hyatt Regency Pier 66 Resort and Marina, the Radisson
Bahia Mar Resort and Yachting Center and the Rolling Hills Golf Club.  The
company also owns the Florida Panthers Hockey Club, the Arena Development and
Arena Operating Companies, Incredible Ice-Skating Rinks and an interest in the
Miami Arena.


SOURCE:  Florida Panthers Holdings, Inc.