2008-09-03 01:10:01 -

- 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