New President and Partner for New Kor Company

Resort real estate veteran, Greg Ashley to establish real estate sales and marketing company

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. October 14, 2008

NOVEMBER 29, 2006. Brad Korzen, CEO and founder of the Los Angeles-based hotel, real estate development and management firm, The Kor Group, is pleased to announce the appointment of as president and partner of a new Kor company being established, effective January 1, 2007 in Vancouver, British Columbia. With offices in Vancouver and Los Angeles, the new company will be the center of expertise for all of Kor's strategic real estate sales and marketing operations.

As president and partner, Ashley will be responsible for creating and building a company and team that will lead all real estate sales and marketing efforts for Kor's residential, resort and hotel development, as well as for select third party real estate developers.

'We are pleased to have a recognized industry leader join the Kor team,' said Korzen in announcing the appointment. 'Greg not only brings extensive real estate sales and marketing expertise to Kor, but has a proven track record in building a strong brand and business platform, leading an organization with diverse international operations, and establishing a great culture. We will be able to leverage all of these abilities across our entire company. Greg's deep knowledge of the resort business as well as his global experience brings a new perspective to the organization. With the recent addition of Nick Clayton from Mandarin Oriental as President of Kor Hotel Group, and now Greg, we are poised for continuous growth both domestically and internationally.'

Ashley joins Kor after a successful 14 year career at Intrawest ULC where he has been involved in the feasibility, planning, design, marketing and sale of over 19,000 homes at resorts throughout North America, Europe, Mexico and the Caribbean. As founding president of Playground Destination Properties (Playground), in just five years Ashley has established and grown Playground into an industry leader: the company directs over 500 resort real estate sales and marketing professionals working on four continents, in eight countries and at over 30 locations, and has achieved approximately $6 billion in sales.

As president of Playground, Ashley led an executive team that was responsible for leading real estate sales and marketing efforts in some of the world's most prestigious resort locations such as Maui, Hawaii; Whistler, British Columbia; Snowmass/Aspen, Colorado; Les Arcs, France; and off the coast of Africa on the island nation of Mauritius, to name a few. Ashley and his teams have represented real estate branded by some of the world's leading hotel operators such as Marriott, Westin, Hilton, Rosewood, Fairmont and Four Seasons. Most recently, Ashley and his team established a European operation based in Lausanne, Switzerland with over 60 employees to oversee an expanding European portfolio.

'I am very pleased to be joining Brad and his team at The Kor Group,' said Ashley. 'The company and its brands are well positioned for accelerated growth. Kor's focus on acquiring sites in the world's greatest locations, their model of blending innovative architecture and leading edge interior design, coupled with their proven ability to deliver 'up to the moment service and memorable experiences' makes Kor truly unique and their properties one of a kind. I look forward to working with the executive team in establishing Kor as a leader in this industry.'

Ashley has a degree in economics from Simon Fraser University. Prior to joining Intrawest, he held positions with the investment firm CIBC Wood Gundy and the real estate development company Quadrant Development, a division of Weyerhaeuser.