Unexplored Inc.Acquires Moguls Tour Inc.

SAN FRANCISCO–March 21, 2001– Unexplored Inc., a leading provider of technology and business solutions to suppliers of specialty leisure travel, Wednesday announced that it has acquired from the RSN television and Web network a majority interest in Moguls Ski and Snowboard Tours Inc., an international snow-sport tour operator based in Boulder, Colo.

Demonstrating its commitment to the ski travel sector, the acquisition reaffirms Unexplored’s position as a driving force in the specialty leisure travel industry.

“Unexplored was presented with a prime opportunity when RSN decided to exit the travel industry and sell Moguls,” said J.P. Thieriot, founder and chief executive officer of Unexplored. “Because of our expertise in travel technology and focus on the specialty leisure travel industry, Moguls is a perfect fit for us.

“Moguls represents another milestone in our acquisition strategy of buying leading travel and technology companies that complete and complement our solution set of technology and business products.”

With the addition of Moguls’ reservations center capabilities, the acquisition enables Unexplored to provide integrated technology solutions and services to an even wider range of travel suppliers.

Unexplored can now offer a desirable product for its United States and international travel supplier clients providing complex travel, which, not easily booked online yet, still relies on the type of over-the-phone expertise that Moguls has been providing for almost 20 years.

Moguls distributes its lodging room inventory to multiple online channels that target travelers searching for ski travel. The acquisition allows Moguls to afford these customers the benefits of Unexplored’s leading-edge inntopia.com booking solution, as well as affiliations with Unexplored’s ski-based lodging properties.

Unexplored currently powers the operations of leading ski-related businesses such as Aspen Central Reservations, North Lake Tahoe Resort Association and Crested Butte Mountain Resort.

“Unexplored gives Moguls two key additions to our business: a superior technology for distributing and booking travel, both online and offline, and a qualified customer base from which to sell our services,” stated Bruce Rosard, Moguls’ president.

“Being able to also end up with a strong strategic marketing partnership and positive working relationship with RSN makes this deal a Grand Slam for Moguls.”

With annual revenue growth of 50 percent over the last four years, Moguls is the fastest growing ski tour operator in the U.S. Moguls has established partnerships with 16 airlines and over 1,000 combined ski resorts and lodging, car rental, ski rental and ground transportation companies.

“Moguls is a premiere provider of specialty travel, and we’ve been lucky to have the opportunity to work closely with this top-rate organization,” said RSN President and Chief Executive Officer Bill Burke.

“However, for RSN to maintain its market advantage and unprecedented growth, it is clear that our focus should remain on the expansion and enhancement of the media assets that are the core of our business.”

Burke added that RSN plans to maintain a strategic relationship with Moguls.

About Unexplored

Unexplored Inc. is a leading provider of technology and business solutions to the global specialty leisure travel industry. Based on a proven and innovative technology platform, Unexplored has been powering travel bookings and operations at travel suppliers for more than 20 years.

These travel suppliers rely on Unexplored to grow business operations, improve inventory management and fulfillment, and increase distribution and revenues. The Unexplored set of products and services is deployed at over 5,000 travel suppliers around the globe, including destination marketing organizations and independent lodges and hotels.

Unexplored has an international network of companies with offices in the United States, Europe annd Africa. The company is headquartered in San Francisco.

Unexplored’s Internet Booking Solution

inntopia.com offers leading online reservations technology solutions and services. inntopia.com’s lodging solutions are expressly designed to meet the needs of independent and destination-based lodging properties, offering advanced technology to sell rooms online and increase profitability, efficiency and exposure.

Additionally, inntopia.com provides solutions for destination marketing organizations, hotel management groups and central reservation agencies, including advanced technology solutions for selling room reservations online and easy-to-use tools that strengthen relationships with affiliate properties.

About Moguls Ski and Snowboard Tours

Moguls Ski and Snowboard Tours, www.Moguls.com, is in its 19th year of providing innovative winter-sport and mountain destination tours throughout the Northeast and Western United States, Canada, Europe, South America and New Zealand. The company has experienced rapid growth over the past five years due to its extensive network of Web-based marketing partnerships and superior customer service.

Moguls offers customized snow sports vacations to almost every major destination resort in the world. Moguls also works with over 200 ski groups each season, ranging in size from 20 to 800 skiers per group.