LINCOLN, New Hampshire ??” Loon Mountain Recreation Corp., a subsidiary of Booth Creek Ski Holdings, Inc., which operates six winter resorts in the eastern and western U.S., today announced that Centex Destination Properties will develop a year-round resort community at the base of South Peak at Loon Mountain. Centex Destination Properties has purchased approximately 47 acres of land at the base of South Peak for private home development. Loon’s South Peak expansion is proposed to be ready for the 2007-08 ski season and is part of the resort’s overall expansion plan that will include four new lifts and 12 new trails. This acquisition represents the first phase of a multi-stage project that includes a proposed full-service resort community, to be called South Peak Resort on Loon Mountain, complementing Loon’s ski area development.

South Peak Resort on Loon Mountain will offer 54 single-family home sites in Phase One of the project, with clearing for trails and roadways already under way, and site work slated to begin in November 2005.

“Centex Destination Properties has proven expertise in developing quality second home destinations throughout the United States,” said Rick Kelley, general manager of Loon Mountain. “We are both focused on delivering high quality and outstanding customer service and satisfaction, and on building a strong sense of community at Loon. Centex Destination Properties’ successful track record, resources and perspective will be integral to bringing our long-time vision to reality.”

An option to purchase an additional 340 acres along the East Branch of the Pemigewasset River will enable Centex Destination Properties to extend the new community to include proposed townhouses, condos, a condo-hotel, and four-season recreational amenities. Within the next several months, Centex Destination Properties expects to complete its master plan proposal for the community and submit it to the Town of Lincoln for approval. Loon Mountain has plans to extend the ski mountain by adding additional new ski lifts and new trails to accommodate the planned resort and enhance skiing options for the existing Loon Mountain customer base.

“Upon completion of the master plan’s proposed lift system, owners and guests at the South Peak Resort will be able to enjoy slopeside lodging and ski in/ski out access to the mountain,” said Ed Brisson, vice president of Northeast operations for Centex Destination Properties. “We recognize Loon’s strong appeal as a premier four-season resort. With some of New England’s best skiing and riding, and all the rich natural and manmade resources of the White Mountains area, we can offer an exceptional living and recreational experience just two hours from Boston.”