Two California Areas Sold


La Canada Flintridge, CA, Dec. 13, 1999--Two historic southern Californian ski areas were bought this week by a group ofinvestors called Mt. Waterman Acquisition Holdings Inc. The areas, Mt.Waterman and Snowcrest, have been in operation since the 1940s in theAngeles National Forest.

The investors have big plans for the two areas that include new snowmaking,16 new lifts, updated facitlities and a link between the two creating onelarge snowpark. Combined, the areas would have a total of 300 skiable acreswhich would put them in the same league as Big Bear, Snow Summit and SnowValley.

Terms of the deal were not disclosed and the deal has yet to receive ForestService approval, though both buyer and sellers see no problems.