LOON MOUNTAIN INVESTS OVER $10 MILLION TO PREPARE FOR NEW SOUTH PEAK EXPANSION SLATED TO OPEN DECEMBER 15, 2007

LINCOLN, N.H. June, 2007 - - As summer officially gets underway in the White Mountain State, New Hampshire’s Loon Mountain is well on the way to making its long-awaited South Peak expansion a reality for this winter. The new peak is set to debut in December.

Over $10 million is being invested this summer to build a brand-new, high-speed quad chairlift and a connector quad chair which will link South Peak to Loon’s existing lift and trail network. Trail construction is near completion on nearly 50 acres of new intermediate and advanced terrain that will open in December. These new lifts and terrain represent only 35% of the total planned on-mountain expansion at build out.

Avid skiers, riders and White Mountain enthusiasts can follow the progress of the project through the summer at www.loonmtn.com.

Centex Destination Properties, one of the nation's premier developers of resort and second home communities, is working with Loon and developing nearly 400 acres of prime real estate between the mountain and the Pemigewasset River. South Peak Resort on Loon Mountain will be an upscale, four-season mountain destination including private ski-in/ski-out and riverside custom homes and condominiums with premium amenities.

Planned amenities include The South Peak Club, featuring an indoor/outdoor pool pavilion, hot tubs, massage studio, fitness center, theater room, dining facility, and skier services. Hiking and biking trails throughout the Resort will offer opportunities to bike or stroll through the woods and along the river and outdoor fire hearths will become natural outdoor gathering places. With its superior accommodations and close proximity to Loon's newest trails, South Peak Resort is sure to meet the highest of resident standards.

Phase I of the project, which began in November 2005, included infrastructure development and 67 single-family home sites. Phase II plans, which include slopeside condominiums, a resort lodge, amenities and a portion of the on-mountain expansion, got the green light last summer when Centex completed a land purchase from the Loon Mountain Recreation Corporation. Centex Destination Properties projects an eight to 10-year build-out of the Resort.

Centex also received site plan approval for the Timberline Village area of the resort from the town of Lincoln, and detailed planning is now underway. Completion of the initial Riverside Terrace Condominiums, which sold out in approximately 10 hours last fall, is planned for this summer and fall.

"This is an exciting summer to be at Loon Mountain, and we look forward to sharing the opening of South Peak with our guests who have been anticipating it over the years," said Rick Kelley, general manager at Loon Mountain."

For more information, visit www.loonmtn.com or www.southpeakresort.com.

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