Press Release: American Skiing Company
July 2, 2002
PARK CITY, UT -- American Skiing Company (OTC: AESK) announced yesterday that its Board of Directors and Audit
Committee had reached a decision to dismiss its independent auditor, Arthur Andersen LLP, and appoint KPMG LLP
as its new independent auditor. The change is effective immediately.
The Company reported that the decision was not based on any disagreement between it and Arthur Andersen on any
matter of accounting principles and practices, financial statement disclosure or auditing scope or procedure.
In addition, the audit reports that Arthur Andersen completed on the Company's financial statements for the fiscal
years ended July 30, 2000 and July 29, 2001 did not contain any adverse opinion or disclaimer of opinion, nor were
they qualified or modified as to uncertainty, audit scope or accounting principles.
For more information, please refer to the Company's Form 8-K, dated July 2, 2002, on file with the Securities and
Exchange Commission.
About American Skiing Company
American Skiing Company is one of the largest operators of alpine ski, snowboard and golf resorts in the United
States. Its resorts include Killington and Mount Snow in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash
Bear Peak in New Hampshire; Steamboat in Colorado; and The Canyons in Utah. More information is available on the
Company's Web site, www.peaks.com.
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Contact: Erik Preusse, Corporate Communications 207-824-8140