Statement from Ice Edge Holdings, LLC

    TORONTO, Sept. 9 /CNW/ - In the last ten weeks, Ice Edge Holdings has
been able to secure financing for its offer, come to terms with key creditors,
and put together what we feel is the strongest proposal for the Phoenix
    Our proposal would build on the strengths of the team and would make it a
great brand throughout the Southwestern United States. We even were able to
add some unique Canadian twists.
    Unfortunately, despite the best intentions on both the part of Ice Edge
Holdings and the City of Glendale, we have been unable to finalize the details
of the amended lease for the Arena in time for Thursday's Phoenix
Coyotes' auction.
    As such, Ice Edge Holdings will be withdrawing our bid for the Phoenix
Coyotes at this time.
    We continue to strongly believe in the potential of the Phoenix Coyotes
for the long term in Glendale, and therefore we will be examining our options
after the conclusion of the bankruptcy auction process.
    Finally, we would like to thank the Coyotes fans in the valley for their
overwhelming support of our offer.

For further information:

For further information: Karen Gordon, Squeaky Wheel Communications
Inc., (416) 997-9478,

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