Booth Creek Ski Holdings, Inc. Reports Fiscal 2000 First Quarter Results.

     Business Editors

     VAIL, Colo.--(BUSINESS WIRE)--March 15, 2000--

--   EBITDA Up 20 Percent Over Prior Year

--   Company Announces Consent Solicitation as It Looks to the Future

     Booth Creek Ski Holdings, Inc. announced today results for the
first fiscal quarter ended Jan. 28, 2000.
     Total earnings before interest, depreciation and amortization and
the noncash costs of real estate sales (EBITDA) were $11.9 million for
the quarter, compared with $9.9 million for the same period last year,
an increase of 20 percent. Resort EBITDA was $11.1 million for the
first quarter. Real estate EBITDA for the three months ended Jan. 28
was $843,000. Net income for the quarter was $998,000, compared with a
net loss of $214,000 in the corresponding period of fiscal 1999.
     Total revenues were $44.7 million for the quarter, compared with
$46.3 million in the corresponding period of fiscal 1999. Resort
revenue was $43.9 million versus $46.3 million in the first quarter of
fiscal l999. Real estate revenue for the three months ended Jan. 28
was $845,000, which was due to the closing of escrow on three lots
within Phases 4 and 4A of the Big Springs development, located at
Norhtstar-at-Tahoe.
     "We are pleased with our results, even though adverse weather
conditions resulted in lower than expected skier visits for the first
quarter," said Chris Ryman, president and chief operating officer of
Booth Creek. "We have made significant strides in implementing cost
control measures which contributed significantly to earnings for the
quarter. Additionally, our strategies for value-priced season pass
products were effectively implemented across the resort group. On a
consolidated basis, season pass sales more than doubled from last
season."
     Cost of sales for resort operations declined by $3,144,000, or 11
percent, as compared to the first fiscal quarter of 1999, and selling,
general and administrative expense decreased by $421,000 or 6 percent
from the 1999 period.
     Resort operations revenue included $5 million in estimated claims
proceeds from paid skier visit insurance policies established for the
majority of Booth Creek's resorts.
     "We believe we have put in place an effective business risk
management program in the form of paid skier visit insurance policies
which helps to lessen the impact of abnormal weather conditions," said
Betsy Cole, chief financial officer for Booth Creek.
     In further company news today, Booth Creek announced that it is
soliciting consent to amend the indenture under which its 12.5 percent
senior notes due March 15, 2007 were issued. The primary purpose of
this consent solicitation is to allow Booth Creek and East West
Partners, Inc. and its affiliates to enter into a joint venture to
advance the completion of Northstar-at-Tahoe's real estate and
mountain development plan. Northstar-at-Tahoe is one of Booth Creek's
eight North American resorts.
     East West Partners, based in Beaver Creek, Colo. has several
decades of experience creating successful mountain resorts. Since its
founding, East West has constructed thousands of residential units,
master planned communities and mountain villages. Signature projects
have included the Hyatt Regency Hotel, the Village commercial core and
the Vilar Center for the Arts in Beaver Creek, Main Street Station in
Breckenridge, Colo., and the Three Peaks community near Copper
Mountain, Colo.
     Further, the consent of holders of the senior notes will allow
George N. Gillett, Jr., chairman of Booth Creek, to reduce his
management responsibilities with Booth Creek Ski Holdings in order to
pursue other interests. It will also allow the responsibility of Booth
Creek strategic direction and operations to be transitioned to Ryman
and his management team of professionals, who collectively have more
than 80 years of ski industry experience.
     "With my increasing focus on independent business interests, I
genuinely look forward to turning the reins of Booth Creek over to
Chris and his senior management team," Gillett said. "I have known
Chris for 15 years and regard him as one of the most dynamic leaders
in the industry."
     Questions regarding solicitation should be directed to CIBC World
Markets Corp., Booth Creek's financial advisor. The Company will be
holding an earnings call for holders of the Senior Notes on March 16,
at 11 a.m. EST.
     Booth Creek consists of eight resorts across North America,
including Northstar-at-Tahoe, Sierra-at-Tahoe and Big Bear Mountain in
California; Waterville Valley, Cranmore Mountain Resort and Loon
Mountain in New Hampshire; The Summit at Snoqualmie near Seattle,
Wash. and Grand Targhee in Wyoming. Booth Creek is the fourth-largest
ski resort operator in the country (www.boothcreek.com).

     Except for historical matters, the matters discussed in this
press release are forward-looking statements that involve risks and
uncertainties. The forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are based on management's current
views and assumptions and involve risks and uncertainties that could
significantly affect expected results. The Company wishes to caution
the reader that certain factors could significantly and materially
affect the Company's actual results, causing results to differ
materially from those in any forward-looking statement. Please refer
to the "Forward-Looking Statements" included in the Company's Form
10-K for the year ended October 29, 1999 and the Form 10-Q for the
three months ended January 28, 2000 on file with the Securities and
Exchange Commission.

                    Booth Creek Ski Holdings, Inc.
                   Consolidated Financial Statements
                            (In thousands)

                                                Actual
                                           Three Months Ended
                                  January 28, 2000    January 29, 1999

Statement of Operations Data:
Revenue:
Resort Operations                   $    43,869        $     46,299
Real Estate and Other                       845                   -
                                         44,714              46,299

Operating Expenses:
Cost of Sales - Resort Operations        26,145              29,289
Cost of Sales - Real Estate and Other       333                   -
Depreciation                              4,887               4,207
Amortization of Goodwill and
 Other Intangible Assets                    606                 594
Selling, General and
 Administrative Expense                   6,650               7,071
Operating Income                          6,093               5,138
Interest Expense and Other, Net           5,048               5,293
Income (Loss) Before Minority Interest    1,045                (155)
Minority Interest                           (47)                (59)
Net Income (Loss)                    $      998          $     (214)


Other Financial and Operating Data:
Total Skier Days                        854,000           1,046,000
Revenue per Skier Day               $     51.37         $     44.26
Noncash Cost of Real Estate Sales   $       331         $         -
Capital Expenditures Excluding
 Real Estate and Other              $     5,251         $     7,246
Net cash provided by (used in):
Operating activities                $    18,377         $    13,713
Investing activities                $    (5,292)        $    (8,730)
Financing activities                $   (11,750)        $    (3,394)
EBITDA                              $    11,917         $     9,939
EBITDA Margin                              26.7%               21.5%


                                                 As of
                                  January 28, 2000    October 29, 1999

Balance Sheet Data:
Total Assets                       $    221,754        $    210,346
Total Debt                              152,253             160,986
Preferred Stock of Subsidiary             2,007               2,133
Common Shareholders' Equity              19,582              18,584

     --30--djm/dx*

     CONTACT:  Peeples Ink PR, Ltd.
               Pat Peeples, 970/845-8525

     KEYWORD:  COLORADO
     INDUSTRY KEYWORD:  SPORTS TRAVEL EARNINGS