Press Release - Denali Concession

DENALI NATIONAL PARK RATES AAI #1 DENALI CONCESSION APPLICANT

March 19, 2003

Denali National Park and Preserve (DNPP) operates with a concession system for mountaineering guide services. Under this system five companies are awarded concession contracts and allowed to offer mountaineering and expedition services in "old park" resource area of DNPP. This area encompasses Mt. McKinley, Mt. Foraker, and many lower peaks.

Periodically the National Park Service conducts a competitive application process for the award of the mountaineering concessions, and the Park has just completed the latest round. The national application and review process was very elaborate, and at the end of it there was an N.P.S announcement that American Alpine Institute was found to be the top applicant.

These concessions are extremely difficult to gain, and as a result, only nine of America's major guide services applied. AAI's concession is being renewed for ten years and the other four highest scoring companies must match AAI's standards to be granted concessions.

C38 (DENA)

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-- Transmitted electronically on March 19, 2003 and hard copy via US Mail --

Mr. Dunham Gooding
American Alpine Institute 1515 12th Street
Bellingham, Washington 98225

Dear Mr. Gooding:

We are pleased to inform you that the American Alpine Institute submitted the best offer in response to the prospectus for mountaineering services within Denali National Park & Preserve, issued on September 4, 2002. We received nine proposals for the five contracts to be awarded. Accordingly, we will be offering a new ten year concession contract to you.

First, however, the other offerors who have a contracting preference will be given an opportunity to match the elements of your offer, to determine who will be offered the remaining four contracts.

When this process is complete, we will incorporate the elements of the best proposal into the contract, including the operations plan. We would like to do this for all five contracts to be awarded at the same time. Therefore, there will be some delay in sending you a new contract while we complete the process for the others.

Again, congratulations. We are very pleased to have you as a partner.

Sincerely,

/S/

Paul Anderson Superintendent

CC: Concessions Division, AKSO