By Press Release

February 23, 2001

Carrabassett Valley, Maine - Sugarloaf/USA will be hosting the 2001 Junior Olympics from March 1st through March 11th. This 11 day event will bring an estimated 300 athletes to the mountain for both snowboarding and alpine racing.

The athletes, coming from the eastern states, or more specifically, states east of the Mississippi, have four events to compete in. Snowboarding competitions will kick off the Olympics with events including the Dual Slalom, Dual Giant Slalom, Half-pipe, and Boarder X. The alpine racers will then compete in the latter half of the week in a Downhill, Super G, Giant Slalom and Slalom, with a two-day training period preceding the actual races.

Snowboarding races will take place on Competition Hill and Scoot, (with the Half-pipe competition being held on Sugarloaf�s Superpipe,) while the alpine races will occur on Competition Hill and Narrow Gauge.

Results of the events will be posted at www.sugarloaf.com. For more information and specially priced ride and stay packages that start at just $79.95, please call 1-800-THE-LOAF or click to www.sugarloaf.com.

About Sugarloaf/USA Ski Resort - Located in Carrabassett Valley, Maine and celebrating its 50th Anniversary Season, Sugarloaf/USA is recognized among the top ski and golf resorts in the world. Sugarloaf/USA is part of the American Skiing Company. Headquartered in Newry, Me, American Skiing Company is the largest operator of alpine ski, snowboard and golf resorts in the United States. Its resorts include Steamboat in Colorado; Killington, Mount Snow and Sugarbush in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash Bear Peak in New Hampshire; The Canyons in Utah, and Heavenly in California/Nevada.