February 21, 2005 – A record-breaking season for skier-visits at Silver Star Mountain Resort
has given the green light to the much-anticipated Silver Woods
expansion for the winter of 2005-2006!

The official announcement of the Silver Woods expansion took take place at
NOON today, Saturday, February 19th in the Village at Silver Star Mountain
Resort. Visiting dignitaries included the Honourable Tom Christensen, MLA
for Okanagan-Vernon and BC’s Minister of Education, and the Honourable
Patty Sahota, BC’s Minister of State for Resort Development. Representing
Schumann Resorts will be Mr. Des Schumann, Mr. Michael J. Ballingall,
Senior Vice President of Marketing and Resort Services, Mr. Paul Plocktis,
Vice President for Real Estate and Development, and representing Silver
Star will be Jane Cann, President of Silver Star Ski Resort Ltd., and Mr.
Michael Sherwood, CGA, General Manager of Silver Star Ski Resort Ltd.
Canada West Ski Areas Association CEO Jimmie Spencer was also in
attendance.

Skiers and snowboarders visiting this intimate, family-friendly northern
Okanagan resort will now have over 400 acres of new skiable terrain to
explore next season, serviced by a $4.5 M Leitner-Poma high-speed
detachable quad. The vertical drop in this area will be 341 metres (1,120
vertical feet) with seven new trails and gladed tree islands  that will
offer fabulous champagne powder skiing on north-east facing slopes. The
lift will top out on the current Roller Coaster trail, and would further
extend the Vance Creek’s vertical drop by about 130 metres (429 vertical
feet) below the base of the Comet Express. The high speed quad will whisk
skiers and snowboarders to the top in less than five minutes! Silver Wood’s
terrain mix will be 80% intermediate and 20% beginner.

The first phase of Silver Star’s luxurious Snowbird Lodge in the Village
Centre will also open next season and is on-sale now. This is the
first five-star accommodation to be introduced at Silver Star in some time,
and amenities include the 24-seat Snowbird Theatre, a fitness room, kids
play room, family lounge with billiards, swimming pool and hot tub with
viewing lounge, and an all-season patio. The building will feature an entry
lobby and fireside meeting place; owner and guest check-in reception;
heated underground parking; over-height parking for SUVs; equipment locker
and wax room with direct slope access; mountain bike maintenance and secure
storage; and digital entry security with video surveillance. The first 53
homes will be ready for occupancy by December 1, 2005 and Phase Two will be
completed by December 1, 2007. Priority registration is taking place now
for a Private Selection Event to be held in March.

Silver Star Mountain Resort also announced today the Comet Express,
Canada’s largest six passenger chairlift, will be open daily from July 1 to
September 5, 2005 for summer mountain bike operations and scenic rides. A
massive expansion of the existing bike park is being developed and a number
of new trails are planned to be ready in time for the July 1 opening. There
will be five dedicated staff members to build the new trails and bike park
features to beginner, intermediate and expert standards. The expansion of
mountain bike trails and the operation of the Comet Six-Pack marks an
additional $300,000 commitment by Silver Star and will give users access to
over 1,800 vertical feet of mountain biking terrain – some of the most in
Canada . The high-speed detachable lift will be fitted with roll-on bike
carriers and will have a ride-time of 7.5 minutes.

The Schumann family has invested in excess of $39 million since their
November 2001 purchase of Silver Star Mountain Resort, near Vernon, BC.
After the initial purchase, further capital expenditures have included over
$15 million in lift infrastructure, $4.5 million in resort services
including new restaurants, a new retail shop, substantial reshaping of ski
runs, grooming equipment, earthworks for parking and well drilling,
preparation and development of fully-serviced five star accommodation lots
to attract international visitors, reshaping the beginner ski area and the
tube park, and maintaining and upgrading existing buildings. An additional
$75 million (retail value) will be injected into the local economy in new
accommodation and investors from around the world are showing great
interest in purchasing these new Resort 5-star homes.

For more information, please contact Michael J. Ballingall, Senior Vice
President, Schumann Resorts Ltd. (Big White Ski Resort Ltd. and Silver Star
Ski Resort Ltd) at (250) 470-7350 or via e-mail at:
mballingall@bigwhite.com>mballingall@bigwhite.com.