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The following companies represent our current portfolio of investments as well as selected prior investments.

Southwest Media, LLC (Majority Owner)
Luxury Resort Destination and Second-Home Market Publisher

• Santa Fean Magazine
• Aspen Sojourner
• Mountain Homestyle

Rocky Mountain Media, LLC (Majority Owner)
Luxury Resort Destination and Second-Home Market Publisher

• Vail/Beaver Creek Magazine
• Rocky Mountain Golf Magazine
• Colorado Summit Magazine

HPJ-Valley Publishing, LLC (Majority Owner)
Luxury Resort Destination and Second-Home Market Publisher

• Sun Valley Magazine
• Sun Valley Home
• Sun Valley Arts
• Idaho Golf Magazine

Park City Media, LLC (Majority Owner)
Luxury Resort Destination and Second-Home Market Publisher
Marketwide Magazine and Brochure Distribution Company

• Park City Magazine
• Park City Living
• Park City Menu Guide

Southeast Resort Media, LLC (Majority Owner)
Upscale Urban Lifestyle Publisher

• Las Olas Magazine
• Rooms

HPJ Maritime Communications, LLC (Majority Owner)
Yachting Enthusiast Lifestyle Publisher

• International Yachtsman

JackRabbit Systems (Substantial Investor)
Developer of online trip planner providing custom email guides to destination cities.

• www.santafetrips.com

APN Media, LLC (Majority Owner)
Publisher of Visitor Guides for 13 National Parks
(liquidated investment in 2005)

Bigfoot Interactive, LLC (Substantial Investor)
The leading provider of strategic, ROI-focused email communication solutions and marketing automation technologies (liquidated investment in 2005)