KANSAS CITY, Missouri ??” Entertainment Properties Trust (NYSE: EPR), a real estate investment trust, announced the following clarification statement regarding the Crotched Mountain transaction previously announced on March 31, 2006:

The company re-financed the existing mortgage on the Crotched Mountain Ski and Ride Area.

Peak Resorts based in Wildwood, Missouri, owns and will continue to operate the Crotched Mountain Ski and Ride Area.

Serving the Boston and Southern New Hampshire markets, Crotched Mountain has 75 acres of terrain and a 900-foot vertical drop, two snowboarding terrain parks and 100% snowmaking capability with one of the largest snowmaking systems in New Hampshire. Crotched Mountain is a regional entertainment and recreation experience that serves the growing demand for skiing and snowboarding.

About Entertainment Properties Trust

Entertainment Properties Trust is a real estate investment trust (REIT) and is the largest owner of entertainment related real estate in North America, owning megaplex movie theatre properties, entertainment retail centers and other specialty properties in metropolitan markets in the United States and Canada. Since November of 1997, EPR has acquired more than $1.4 billion of properties. The Company’s common shares of beneficial interest trade on the New York Stock Exchange under the ticker symbol EPR. Entertainment Properties Trust Company contact: Jon Weis, 30 Pershing Road, Suite 201, Kansas City, Missouri 64108; 888-EPR-REIT; fax: 816-472-5794. The Company website is at www.eprkc.com.