Booth Creek Ski Holdings Announces Capital Improvements For 1998-1999 Ski Season
12.5 Million in Capital Expenditures Emphasize Quality of Guest Experience
9/17/98

VAIL, Colo., Sept. 16 -- Booth Creek Ski Holdings, owners and operators of eight of the nation's distinctive areas within close proximity of the country's major metropolitan areas, has announced its capital plans in anticipation of the upcoming ski season.

"We are investing $12.5 million of expansion capital at our eight resorts, (11 areas) with the singular intent of continually improving our guests' ski experience," George Gillett, chairman and chief executive officer, said today. "Booth Creek firmly believes in listening to our guests' comments, compliments and critiques, and making annual improvements based upon what they say."

Chris Ryman, Booth Creek's president, added, "This season our resorts will feature three additional high-speed quad chairlifts, expanded tubing and snowplay facilities, and new and expanded restaurants. Guests will see wholesale improvements of skier service facilities and base lodges and a continual attentiveness to guest service. I think you'll see that we are listening and committed to providing great service, fun and entertainment for our guests."

Booth Creek, founded by Gillett in 1992, owns: Sierra-at-Tahoe, Northstar-at-Tahoe and Bear Mountain in California; Waterville Valley, Mt. Cranmore, and Loon Mountain in New Hampshire; The Summit at Snoqualmie near Seattle, Washington; and Grand Targhee in Wyoming. Collectively the resorts reported 2.4 million skier days last season - making it the fourth largest ski company in North America.

"We are proud to announce a number of unique capital projects that are being completed this summer and fall by Booth Creek," Gillett said.

"The company and its equity partners believe these projects will result in continued growth for Booth Creek and attractive rates of return on capital invested. Funding for these projects has been provided by the company's existing shareholders who have recently invested an additional $15 million of equity capital into the company," said Betsy Cole, chief financial officer.

Booth Creek's major capital projects for 1999 include:

WASHINGTON
The Summit at Snoqualmie:
* Two high-speed quad chairlifts
* Expanded beginner facilities
* Expansion of tubing and snow-play areas; night lighting
* Improvements to skier service facilities
* Improved cross-country skiing base facility

NEW HAMPSHIRE
Waterville Valley:
* Significant expansion of base area lodge, restaurants and cafeterias
* Additional snowmaking capacity
Loon Mountain:
* Expansion of guest arrival and drop off areas and slope-side parking
* Expansion of food and beverage facilities
Mt. Cranmore:
* Significant expansion of snow-play parks including tubing, snowbikes, sledding, ice skating and an improved snowboarding terrain park; night lighting.

CALIFORNIA
Northstar-at-Tahoe:
* New children's center-the Starkids Ski School building
* Renovation and expansion of the Day Lodge restaurant; improved and expanded outdoor barbecue
* Polaris Park - new top of the gondola snow-play park, tubing and snowboarding terrain park; night lighting
Big Bear Mountain:
* New high speed quad chairlift- the Clementine Express
* Improved base lodge and skier service facilities
Sierra-at-Tahoe:
* Improvements to restaurant, skier service and snowboard rental facilities

WYOMING
Grand Targhee:
* New snow-play park including tubing, sledding, ice skating and other evening activities
* Completion of waste water treatment facility to support future development plans
For more information on Booth Creek or any of its resorts, phone

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