Mr. J. Murph Yule

President & Chief Executive Officer, JMY Consulting Services, Inc.

GLG News by Mr. J. Murph Yule, President & Chief Executive Officer

Analyses are solely the work of the authors and have not been edited or endorsed by GLG.

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Vail Resorts' New Vision

March 19, 2007

Analysis of:Vail Resorts plans largest mixed-use LEED-certified resort development in North America | www.hotelmotel.com

Key to the development planning and marketing of Ever Vail are:

- "green" development philosophy, trying to create a truly sustainable development with an ongoing commitment to minimizing the development footprint on the lands

- the idea of 150-200 whole ownership condominium units, 75-125 fractional ownership condominiums (1/4,1/5. up to 1/8 have had the best results), 100,000 sq. ft. hotel (hotel/condo concept has worked well in the resort village development), and 100,000 to 150,000 sq. ft. of commercial, retail, office, and restaurant space to further enhance the "live-work" environment

- Vail Resorts does not anticipate beginning any real estate sales on the project until 2009

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