Mount Snow Completes Sale of Haystack

Mount Snow Completes Sale of Haystack
MOUNT SNOW, VERMONT - June 30, 2005 - Mount Snow Ltd. has announced that
it has completed the sale of Haystack Ski Resort in Wilmington, Vermont to
a
group of local businesspersons known collectively as Tyringham Ridge.
This is great news for community residents and businesses, said Stan
Hansen, President and Managing Director of Mount Snow Ltd. Were hoping
that this investment triggers further investment within our Valley.

Entered into on March 30, the Purchase and Sale Agreement provided for a
$5,000,000 purchase price and included a two year right of first refusal
on
certain non-operational lands owned by Mount Snow.
This transaction allows us to fully concentrate our efforts on Mount
Snow,
while encouraging Haystack to realize its full potential, commented
Hansen.
The synergy were working towards achieving is exciting.

Under the terms of the agreement, Mount Snow Ltd. will continue to draw
water from sources at Haystack.
Proceeds to Mount Snow Ltd. and American Skiing Company from the sale of
Haystack are expected to be used for additional liquidity, to fund
capital
expenditures and reduce senior debt, each as permitted under American
Skiing
Companys senior credit facilities.

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