Okemo’s Purchase Of Crested Butte Finalized

Ludlow, VT – (March 2, 2004) – Tim and Diane Mueller, owners of Okemo Mountain Resort in Ludlow, VT and operators of Mount Sunapee Resort in Newbury, NH are pleased to announce that the purchase of Crested Butte Ski Resort in Colorado from the Callaway and Walton families and it subsidiaries is now final.

The Muellers signed a Letter of Intent for the purchase of Crested Butte Ski Resort in October of 2003 and the final closing took place on March 1, 2004. Tim and Diane Mueller and Triple Peaks, LLC officially took over the ownership and operation of the Colorado ski resort on March 1, 2004.

“It is with great excitement that we look forward to our involvement at Crested Butte Ski Resort and in the community of Mt. Crested Butte,” said Tim Mueller. “We intend to build upon the attributes of the mountain with a Master Plan of improvements that will take place over time and will be in keeping with responsible, planned growth and development that remains consistent with our standards of environmental responsibility and commitment.”

“When we took over the ownership and the operation of Okemo and Mount Sunapee, we recognized the potential in each resort and placed guest service and the quality of the recreational experience as our top priority,” commented Diane Mueller. “Our vision for Crested Butte is to reinforce its reputation for excellence and position it as Colorado’s premier resort destination.”

Crested Butte is located in southwest Colorado in the town of Mt. Crested Butte and is best known for its historic town, exciting nightlife and some of the best extreme skiing in the world. The resort has 85 trails spread over 1,058 acres, with 14 lifts and receives over 240 inches of natural snow each season.

About Tim and Diane Mueller and their Triple Peak, LLC Resorts

Tim and Diane Mueller are the owners of Okemo Mountain Resort in Ludlow, Vermont, and operators of Mount Sunapee Resort in Newbury, New Hampshire. As resort operators, they recognized the potential with Okemo Mountain (VT) and Mount Sunapee (NH) and turned them into the East’s most successful ski and snowboard resorts. Okemo’s rebirth from a small local area into one of the country’s leading family-owned and operated resorts began in 1982. By reinvesting in the infrastructure of the mountain and by recognizing the potential of the staff, Okemo has received national acclaim in both the snowsports and golf industry. In 1998, the Muellers acquired the leasehold operation of Mount Sunapee from the State of New Hampshire. Under their leadership, Mount Sunapee has more than doubled skier/rider visits. The resort is known for its pristine location, friendly environment, diverse trail system and family appeal.