MFM Purchases Second Hotel

September 10, 2003, South Lake Tahoe, CA – Marc Frank Montoya, Liko S. Smithand partners are currently in escrow to purchase the Monte Carlo Hotel inSouth Lake Tahoe. The hotel is a two story concrete structure with drive upcheck in service, 22 spacious balcony suites and underground parking. Thehotel also faces directly into the courtyard of the existing BLOCK hotel.Immediate plans are to fully remodel the Monte Carlo and incorporate theproperty into the existing BLOCK as an upscale East wing addition. The MonteCarlo name will be removed however the signage areas will be re-utilizedwith state of the art signage. Additional services will also be includedsuch as an expanded lobby, a cyber cafe, a Zen fire pit and ground levelJapanese bridges over gardens connecting the two hotels. A purchase pricewas not disclosed. Close of escrow is expected to occur prior to October 15,2003. Both hotels will be managed by Eagle Eye Management, a Las Vegas basedhotel management company.

” I’ve been looking at other deals in other locations but Marcs’ vision wasalways the acquisition of the Monte Carlo, ….unfortunately, it was not forsale at the time” says Liko S. Smith, Managing Partner of THE BLOCK. “Iapproached Travis (Wood) and Blotto about our plans and once they weighedin, I knew we had to make it happen, we’re very lucky to be able to purchasethe Monte Carlo and create this beautiful addition to an already outstandinghotel” he says. “This will also be a great move for our investors, this isdefinitely a 1 + 1 equals 4 situation” says Smith.

“We need to expand already! Everybody wants to stay here because it’s ahundred times better than anywhere else, but now we need more room! That’swhat happens when you show people a good time and treat ’em like kings! “says Marc Frank Montoya, creator of the snowboarder hotel concept and BLOCKowner.

The expansion of the hotel to 50 units will also allow THE BLOCK tocomfortably host production crews, student travel groups and internationaltour buses that visit the South Lake Tahoe Area. “My contacts overseas havebeen calling; we’re glad we’ll be able to accommodate them” says Smith aformer vice president of sales for PVI hotel group. “This will also allow usto offer more exposure and guest sensory experience along with our sponsorrooms” he says.

Current sponsors are Spy Optic, Vivid Video, Northwave, Flow Bindings, MFM,Transworld Snowboarding Magazine and others are in negotiation. Sponsoredrooms are personalized rooms created by companies in the snowboardingindustry to provide a unique experience for each customer. All sponsor roomsto be completed by October 31,2003.

THE BLOCK is a 28 room snowboarder hotel founded by ProfessionalSnowboarder, Marc Frank Montoya and veteran hotelier Liko S. Smith. Otherpartners include Professional snowboarder Travis Parker, Burton Team ManagerDean “Blotto” Gray and Travis Wood of Sims Snowboards, The hotel has twosecond story decks with exterior music, a rooftop hot tub, free high speedaccess and wireless terminals as well as complimentary CLIF BARS for allguests upon check in. In room amenities include cordless phones, CD players,DVD/game consoles and coffee makers, refrigerators and room service. Thehotel is located at 4143 Cedar Avenue in South Lake Tahoe, directly adjacentto Harveys/Harrahs Casinos and as well as the incoming convention centerscheduled for 2005. It is 1 block from the Heavenly Gondola in S. LakeTahoe. Reservations can be made by calling 530.544.2936 or online or Email is