First walls will be poured September 22, on the building site of Tamarack Resort's first hotel product - the 89,000-square-foot Tamarack Resort Members' Lodge & Spa. This is the first multi-story structure at Tamarack (six levels including four above ground). The first stage of the Tamarack pedestrian Village will include this Members' Lodge & Spa, the fire station, and six domes for services, known as Discovery Square. At full development, the Village will include more than 20 buildings. Extensive site and foundation work started in early August.

Tamarack Resort CEO Jean-Pierre Boespflug said his company will spend approximately $20 million on the Members' Lodge & Spa ensuring a complete, upscale amenity package, including: - 44 Units: 17 Guest Rooms and 27 Condominium Suites - A gourmet restaurant featuring fine cuisine; indoor and outdoor dining; seating for 150 guests - The Terrace Grille, with dramatic vistas of Lake Cascade and a view of the 18th green of Tamarack Resort's Robert Trent Jones II-designed signature golf course - Private dining room, meeting room, and Tamarack Club Members' board room - Lobby/lounge with four-sided fireplace and library nook - Full-service concierge desk - Spa designed with dedicated rooms for relaxation treatments, full manicure, pedicure and stylist services - Exercise facility with Pilates/Yoga studio - Outdoor swimming/lap pool - Large Jacuzzi pool with refreshment bar - Children's pool - Locker areas equipped with steam rooms - Golf Pro Shop - Nordic Ski Center and guide service - Valet services - Two underground parking decks, including one dedicated to golf carts and members' storage needs

The general contractor for Tamarack Resort's Members' Lodge is Jacobsen Construction of Salt Lake City, who has recently completed the Four Seasons Hotel in Jackson Hole, and The Ritz Carlton at Bachelor Gulch, Beaver Creek Mountain, Colorado. MHTN Architects, Inc., also of Salt Lake City, is the architect, and The Ranch House of Boulder, Colorado is the interior designer. Completion is expected for Christmas 2005.

Reservations are now being accepted for the 27 finely furnished condominiums at the Members' Lodge & Spa. The Tamarack Sales Office is now promoting the new resort to be opened on December 15, 2004, the Members' Lodge, as well as the full richness of Idaho, in an 18-city seminar series.

For more information on real estate opportunities in the Members' Lodge or to find out where the seminar series is stopping, please call the Tamarack Sales Office at 208-325-1000 or visit www.tamarackidaho.com

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Main Contact: Chris Volk Tamarack Resort 475 S. Capitol Blvd. Suite 200, Boise, ID, 83702 Phone: 208 (208) 388-3800 Fax: 208 472-1759 Web: www.tamarackidaho.com