By Press Release

February 8, 2001

The Mt. Hood Meadows Ski Resort Board of Directors has notified its counterpart at Mt. Bachelor that it is interested in keeping the central Oregon ski resort a locally owned and operated enterprise. The board signaled its intent to purchase in a letter sent this week, which, if accepted by the Mt. Bachelor board, would allow a short review period to present a formal purchase proposal.

The potential sale of Mt. Bachelor has been publicized in the local media lately, as a Utah company has indicated its interest in purchasing Oregon's largest ski resort.

Board Chairman and President Franklin G. Drake explains the intent of the Board. "The Mt. Hood Meadows Board of Directors is motivated by wanting to see the Mt. Bachelor Resort remain in the hands of Oregon investors as well as the synergies we believe can be achieved by combining certain functions with those of Mt. Hood Meadows. The efficiencies that can be realized will help the combined entities remain competitive in a very competitive marketplace. We want the Mt. Bachelor Board to know that there is a viable, practical and, we believe, more favorable local option when considering whether they will sell the resort."

Drake also says local control and decision making of the resort would be good for northwest skiers and snowboarders. "Local ownership can be more sensitive and responsive to the desires of those who live and recreate here in the northwest, as well as provide the opportunity for a two-resort pass and other potential convenience benefits for those who want to take advantage of the recreational variety the two resorts offer in Oregon."

Mt. Hood Meadows Ski Resort and the Mt. Hood National Forest - a natural partnership.