Buncher Adds Hidden Valley Four Seasons Resort to Portfolio

Extensive Renovations and Improvements planned for 07/08 Ski Season

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. October 14, 2008

LAUREL HIGHLANDS, PA, September 5, 2007. Hidden Valley Four Seasons Resort, a gem tucked away in Pennsylvania's scenic Laurel Highlands, is under new ownership just in time for the 2007/08 winter season. The Buncher Company, a prominent Pittsburgh real estate developer, completed the transaction late Friday, Aug. 31, with the Kettler family, who operated the 1,500-acre mountain resort since 1983. Terms were not disclosed.

Located 60 miles southeast of Pittsburgh, the Somerset resort adds to The Buncher Company's growing portfolio in the hospitality sector. The property features 28 slopes and trails for skiing and snowboarding, a championship golf course, tennis courts, swimming pools, hiking and biking trails, retail and dining amenities, and residential development with a variety of lodging -- condominiums, townhouses and single family homes. It is among the mid- Atlantic's popular family resorts and is within easy driving distance (200 miles) of Cleveland, Baltimore and Washington D.C.

"We have exciting plans for Hidden Valley and the surrounding area over the next 3 to 5 years. Our focus today is on the fast approaching winter season, we're moving full steam ahead to ready the resort and slopes for families and skiers to enjoy Hidden Valley," says Bill Doring, Buncher Vice President and Treasurer, who is leading the project and is himself an avid skier and snowboarder. "Our vision is to return Hidden Valley to its glory days, as a premier family resort, and ensure a high standard of operation with amenities that cater to families and the residents of Hidden Valley. It's an exciting era in the resort's more than 50-year history."

The Buncher Company intends to unveil the first phase of its master plan for Hidden Valley in mid-October. In addition to the resort, the firm is planning an upscale gated residential and golf community on property it owns immediately adjacent to Hidden Valley fronting along Route 31.

In the interim, visitors can look forward to visible improvements and enhanced customer service during the resort's first winter season under Buncher. Out of the gate, expect more snow. Buncher is boosting the snowmaking capacity on the 3,000 ft. mountain, adding new automated snowmaking and grooming equipment for several popular ski runs.

Improvements to the interior and exterior of the ski lodge include a new roof, paint and carpeting, and new shopping and dining amenities. Improvements to the roads and parking lots and a new signage system are also planned.

The purchase of Hidden Valley continues Buncher's expansion into the residential and hospitality industries. In June, The Buncher Company opened its first hotel, The Hampton Inn and Suites Pittsburgh - Downtown, across from the Heinz History Center, in the historic Strip District of Pittsburgh and is in the planning stages for residential and mixed-use developments in Westmoreland and Butler Counties.

The Buncher Company is a privately held company with a long and storied history in Western Pennsylvania. Founded in 1917 as a metals recycling dealer, the company has evolved into one of the region's prominent investor/developers of commercial real estate, specializing in office, flex and distribution space for lease to businesses. Its diverse operations include supply and reconditioning of rail car parts and rail car service and repair divisions, along with other ancillary businesses. Buncher Resort Development Group, LLC and Buncher Resort & Hospitality Group, LLC were formed to operate and manage its expanding hospitality and residential portfolio.