Yellowstone Club Enters into Agreement with Discovery Land Company for Long-Term...

Yellowstone Club Enters into Agreement with Discovery Land Company for Long-Term Development and Management Joint Venture

BIG SKY, Mont.--(Business Wire)--
The Yellowstone Club, the world's only private skiing and golf
community, today announced that it has entered into a long-term
operational management joint venture with Scottsdale, Arizona-based
Discovery Land Company to manage the Yellowstone Club and further
expand the Club's residential community, infrastructure and Club
amenities.

Edra Blixseth, majority owner of Yellowstone Club, and Sam Byrne
of CrossHarbor Capital Partners, the Yellowstone Club's largest
property owner, have entered into a joint venture with Discovery to
operate the Yellowstone Club and develop the remaining property
infrastructure and amenities. As part of the agreement, Discovery will
also assume management of day-to-day operations of the Club. The
company is highly regarded for its operational excellence and
high-quality member service at is 15 other private community
developments around the world. For more information, please visit them
at www.discoverylandco.com.

"Today marks a historic milestone for Yellowstone Club as we
embark on the next phase of Club enhancements and infrastructure
development that will fulfill Yellowstone Club's original vision and
provide our members, their families and guest with and unmatched
Montana outdoor lifestyle," said Blixseth. "I am delighted to be
working with Michael Meldman and Discovery, which I know shares our
vision and has the experience and creativity to enhance the mountain
living and recreation lifestyle and amenities for our members and
their families. This venture will help secure our position as the
world's most exclusive skiing, golf and outdoor recreation community."

Blixseth said that Yellowstone Club and Discovery Land Company
expect to begin land planning and development activities in the coming
weeks and months. Development plans call for approximately 450
additional residential and multi-family residences to be built over
the coming years to complement the existing 340 Club member homes
already on property.

According to Michael Meldman, Chief Executive Officer of Discovery
Land Company, the power of the Yellowstone Club concept provides a
one-of-a-kind opportunity to further develop and enhance a world-class
private living and recreation community. "We are big believers in
taking full advantage of what we call 'indigenous' amenities like the
mountains and lakes to create a unique lifestyle that appeals to the
entire family," Meldman explained. "We have a number of ambitious
development and enhancement plans underway that will provide
year-round activities and enjoyment for our members, their families
and guests."

In addition, Discovery intends to bring a new level of member
service to the Yellowstone Club that will accompany the incomparable
physical amenities. "The vision it took to create the Yellowstone Club
was incredible and cannot be duplicated. We intend to implement our
high level service standards and programs that focus on the family
that will hopefully allow the members to enjoy the Club more than
ever," says Meldman.

In continuing to improve the Yellowstone Club, Discovery envisions
a series of "generational" amenities including the creation of a
Family Village that will surround the existing Warren Miller Lodge;
development of additional ski facilities with the opening of new
skiing on Eglise Mountain; the construction of a golf clubhouse to
complement the existing Tom Weiskopf-designed 18-hole Championship
course; development of a luxury spa, ice skating rink, pool and
baseball field; and other family-themed programs such as camping, fly
fishing and wakeboarding, that will allow Club members, their families
and guests to enjoy all of the outdoor pursuits available to them in
Montana.

Sam Byrne, Managing Partner of CrossHarbor Capital Partners LLC,
Yellowstone Club's largest land owner and developer, shares in
Blixseth's excitement for Discovery to become part of the team and to
carry out the vision to insure that Yellowstone Club will continue to
be the best private skiing, golf and recreation community in the
United States. "We are extremely pleased to have a partner like
Discovery Land Company bring its world-renown expertise in developing
premier living and lifestyle communities. This is great news for
current and future Club members and their families and we look forward
to a long and mutually beneficial partnership with Michael and his
management team."

Located in Big Sky, Montana, Yellowstone Club, "The World's Only
Private Ski and Golf Community," is nestled on nearly 14,000 acres of
private land near the northwest corner of Yellowstone National Park.
Established in 2000, Yellowstone Club is limited to just 864 exclusive
residential properties, and membership is by invitation only. For
further information about Yellowstone Club, visit them at
www.yellowstoneclub.com.

Edelman
Bill Keegan, 312-927-8424
or
Edelman
Gary Dunlap, 312-240-2821

Copyright Business Wire 2008