St. Arnaud, New Zealand (Wednesday, May 5, 2004) - Beyond Rainbow Mountain Sports Incorporated finalized the purchase of the ski area's license and some of its assets during 2003 from Rainbow Ski Area Ltd. The locally operated corporation has registered and solely owns a company called Beyond Rainbow Ltd which will operate the ski area this season.

Beyond Rainbow Mountain Sports Incorporated is now nearing it's fundraising target with only NZ$40,000 left to raise. This is good news for the reopening of the revamped ski area.

The T-bar cable was being spliced this week in awful weather conditions and will be followed by the commissioning of the lift once this is complete.