American Skiing Company announced that on September 10, 2007, the Company filed a Certificate of Dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. The dissolution will become effective as of 12:01 a.m. on September 13, 2007. Trading of the Company's stock on the OTC Bulletin Board will also cease after September 12, 2007.

Holders of the Company's stock are advised that as a result of the cessation of trading on the OTC Bulletin Board, the ability to transfer, sell or purchase the Company's common stock will be severely limited after September 12, 2007. Upon effectiveness of the dissolution, the Company will close its stock transfer books and discontinue recording transfers of its stock on its books, except by will, interstate succession or operation of law.

Holders of the Company's common stock are not expected to receive any payment or distribution with respect to their shares pursuant to the Company's plan of dissolution.