Dear Friends of Magic:

I am pleased to advise that the business plan and associated financials are now posted in the "Latest Magic Updates" section below.  We are in the process of finalizing the technical and legal components of the offering and will be publicizing sales information next week and anticipate shares going on sale no later than July 3^rd.  I am excited about moving forward and commencing a new era at Magic Mountain .  I welcome questions pursuant to your review of the business plan, so please feel free to e-mail or call us.  Additionally, there will be an informational meeting at the Magic Base Lodge on Sunday, July 5 at 11 A.M. at which we will be available to answer any and all questions and explain how the new entity and the mountain will function.  I encourage any of you who will be in the area to attend and pose any questions you may have.

To briefly recap, the shares will be offered at $3000 per share and we need to sell 300 as soon as possible in order to assure that we will have the requisite momentum to make this project successful.  Money will be held in an escrow account until there are enough sales to confirm that the mission is viable.  In addition to full payment at the time of purchase, we will be offering a payment plan whereby purchase of a share can be divided into three $1000 payments, the first upon signing up, the second by September 15, 2009 and the third by December 1, 2009.  I am hopeful that many of you will choose to purchase multiple shares and take advantage of the season pass incentive associated with multiple share purchases outlined in the business plan.  Again, it is important to sell the shares as soon as possible in order to get down to the business of improving the mountain and preparing it for the upcoming season.

The philosophy behind this whole effort is to create a skier’s community which invests in ownership of Magic and which participates in directing Magic’s future.  Our intent is to assure that the mountain can continue to operate, to make it more consistent and reliable, and to grow the Magic community so that the mountain can be economically sustainable.  There is no doubt that Magic is a unique and wonderful natural facility with many devout fans, and I am sure that with the support and growth of the Magic faithful together we can make this mountain thrive.

Your interest and support are greatly appreciated.

Sincerely,

Jim Sullivan