Shanty Creek Courses Ready for Season

The 2005 golf season will begin
on schedule at Shanty Creek Resort and Club, with the resort’s Summit
course set to open Friday, April 22, 2005. “Our experienced staff is busily preparing for an outstanding summer
season. Weather permitting, we expect to have all facilities open and
operating on schedule, providing guests and members with the same high
level of quality they have come to expect from us,” said Shanty Creek
President and Chief Operating Officer, Jack Garagnani.

Buoyed by a nearly $2 million investment of operating capital, Shanty
Creek’s new management team has continued regular operations and is
purchasing a new fleet of maintenance equipment to ensure outstanding
conditions at the resort’s championship golf courses.

Following recent foreclosure proceedings, Shanty Creek Resort and Club is
under the management of Douglas Wilson Companies, one of America’s most
capable and experienced problem resolution and real estate management
firms. Since 1989, it has overseen development and management of nearly $3
billion in assets and has served as a court appointed fiduciary for nearly
400 projects in both state and federal courts.

Douglas Wilson Companies has put in place a highly skilled, veteran
leadership team whose sound business practices will ensure that Shanty
Creek operates as a high-quality, full-service resort until a qualified
buyer who is willing to take the property to the next level is found.

“Golf is a billion dollar business in Michigan and we anticipate that our
Resort will continue to be one of the state’s favorite golf destinations,”
continued Garagnani. “We are pleased with projections of a strong 2005
season for the state and look forward to welcoming back plenty of old
friends and making just as many new ones.”

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In August, Shanty Creek Resort will play host to the 2005 Michigan PGA
Championship, a three-day event featuring some of the best professional
golfers in the state.

Following tradition, Shanty Creek will also offer 2005 summer guests top
quality golf instruction, swimming, biking, horseback riding, children’s
programs, disk golf, entertainment, and dining opportunities.

“Since 1985, Shanty Creek Resort and Club has been one of Michigan’s
premier, four-season resorts. The property’s employees, management,
lenders, suppliers, and marketing partners are all working together to
ensure its long- term success,” Garagnani added.
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