Bretton Woods, NH (Thursday, June 29, 2006) - Celebration Associates and Crosland Inc. on Friday announced their $40 million purchase of over 900 acres of land and other assets that surround the historic Mount Washington Hotel and the Bretton Woods Mountain Resort in northern New Hampshire. The intent of the transaction had been announced in April of 2006 and was finalized last week.

As part of the overall transaction, CNL Income Properties Inc., Orlando, Fla., has acquired the Mount Washington Hotel, the Bretton Arms Country Inn, The Lodge at Bretton Woods, the Bretton Woods Ski Area and other related assets for $45 million. CNL Income Properties has already entered into a long-term lease agreement with Celebration Associates and Crosland who have engaged National Resort Management Group to market and operate the resort property. The assets acquired by Celebration Associates and Crosland include the 18-hole Mount Washington Golf Course designed by Donald Ross, an adjacent nine-hole course, equestrian stables and paddocks, Nordic ski center, water company, and cable company.

"National Resort Management's goal will be to build on the solid foundation that has been established by the current owners of Bretton Woods and the Mount Washington Hotel. We have the experience, resources and commitment to position Bretton Woods as the premier historic and year-round resort destination in New England," says NRMG Founder and Managing Partner Pat Corso.

Corso is a Founder and Managing Partner of National Resort Management Group, LLC. He was President of Pinehurst, Inc., from 1987 through January of 2004. During his tenure, he oversaw the restoration of Pinehurst in North Carolina and its return to prominence as one of the premier golf resort destinations in the world. In the last 10 years of his tenure with ClubCorp (the owner of Pinehurst), Corso served as Executive Vice President of Resort Operations and later President of The Pinehurst Company.