EXHIBIT 99.1

                                                           For Immediate Release

                                                             Contact: Stan Smith
                                                                  (954) 627-5021

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                         FLORIDA PANTHERS HOLDINGS, INC.
                    COMPLETES $340 MILLION PRIVATE PLACEMENT
                          OF SENIOR SUBORDINATED NOTES
             AND OBTAINS NEW THREE-YEAR $146 MILLION CREDIT FACILTIY

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         Fort Lauderdale,  Florida (April 21, 1999) - Florida Panthers Holdings,
Inc.  (NYSE:PAW)  today  announced  that it has  completed  its offering of $340
million in aggregate  principal amount of 9 7/8% senior  subordinated  notes due
2009 in a private  placement  pursuant to Rule 144A under the  Securities Act of
1933. The net proceeds from the offering,  after payment of selling  commissions
and  discounts,  and  other  expenses  of the  offering,  will be used to retire
short-term  indebtedness.  The  company  also  announced  that it obtained a new
three-year revolving line-of-credit in the principal amount of $146 million from
a syndicate of financial institutions.

         The notes have not been registered under the Securities Act of 1933 and
may not be  offered  or sold in the  United  States  absent  registration  or an
applicable  exemption from registration  requirements.  This press release shall
not  constitute  an offer to sell or the  solicitation  of an offer to buy,  nor
shall there be any offer,  solicitation or sale of the notes in any jurisdiction
in  which  such  offer,   solicitation  or  sale  would  be  unlawful  prior  to
registration or  qualification  under  applicable  securities  laws,  absent the
availability   of  an  exemption  from  such   registration   or   qualification
requirements.

         Florida  Panthers  Holdings,  Inc.  owns luxury  resort  properties  in
Florida and Arizona.  The  company's  resort  portfolio  includes the Boca Raton
Resort & Club, the Arizona  Biltmore  Hotel,  the Registry Hotel at Pelican Bay,
the  Edgewater  Beach Hotel,  the Hyatt  Regency  Pier 66 Hotel and Marina,  the
Radisson Bahia Mar Resort and Yachting Center and the Grande Oaks Golf Club. The
company  also owns the Florida  Panthers  Hockey Club and has  interests  in the
operations of the National Car Rental Center located in Broward County, Florida,
the Miami Arena and two ice skating rinks.

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