Ligonier, PA –A unique and appealing turnkey investment opportunity has emerged on the auction market that will leave the buyer with a solid income producing investment and tremendous growth potential.

The Laurel Mountain Ski Resort, situated on 387 acres leased from the Commonwealth of Pennsylvania, currently utilizes only 60 acres, leaving over 320 acres for continued expansion of the challenging and scenic ski runs. In addition to the ski resort, 380 home sites will be sold for development. With separate water and sewerage systems, the ski resort and development land may be sold separately or as an entirety. Buyers can bid on the Laurel Mountain Ski Resort with improvements OR the 380 home sites and sewerage treatment plant OR the entire package.

With over 300 acres of expandable land for the ski area within the existing leased land, there is tremendous growth potential for the ski resort. The current owner and the Lender envision this resort growing, under new ownership, into a full-scale ski resort and development. Excellent potential exists for many more ski slopes and trails including a large loop and corkscrews through the woods south of the existing slopes and a several mile long beginner to intermediate trail north of the existing slopes with expert slopes in between.

Centrally located 180 miles from the Baltimore/Washington area, 60 miles from Pittsburgh, 200 miles from Cleveland, 110 miles from Wheeling, WV, and only 12 air miles from Seven Springs Resort, this timely offering presents an opportunity for investors to take advantage of the rebound in the resort industry. The lovely 12,500SF Laurel Lodge constructed in 1999 is located at the top of Laurel Mountain and overlooks the picturesque Ligonier Valley. This opportunity includes extensive infrastructure and equipment: the resort maintenance/ski patrol building; tube park; half-pipe park; slope groomers; snow making equipment; the majority of the tows and lifts; a quad lift; skis; boards; and other equipment.

The sale of the 380 residential building lots, located on the same mountain, includes a public water system, wastewater treatment plant, and access to community amenities in addition to adjoining the ski resort. Infrastructure is in place to support the development of this resort into a full-scale ski resort and home development.

Sealed bids are due by 5:00 p.m. on Wednesday, October 15, 2003. There will be inspections by appointment.

"The combination of a well-located resort with extensive infrastructure and 380 development lots with sewerage treatment and water in place presents a unique investment opportunity," says Steven Fox, President of Tranzon Fox. "Resort investors, business investors, builders, hoteliers, and real estate specialists alike stand to benefit from the rebounding resort industry, and this auction property is a vehicle to the equity available in an accelerating market."

Tranzon has 11 member companies that together conducted auctions, sealed-bid sales and liquidations in 32 states and the District of Columbia last year. Tranzon professionals specialize in unique and complicated real estate dispositions, business asset and liquidation auctions and accelerated marketing services related to corporations, financial institutions, trustees, individuals and estates throughout the U.S. Visit the Tranzon website at www.tranzon.com.

To obtain information, and the documents to submit a sealed bid, please contact Sandy Alderfer at Tranzon at 1-215-393-3020 or view and request online at www.tranzon.com and refer to auction FX1322. Sealed bids are due no later than October 15, 2003 at 5:00 p.m. ET.