Innisbrook Resort Purchased by Salamander

Entrepreneur Sheila C. Johnson Adds Renowned Florida Resort and PGA TOUR Venue to Growing Portfolio

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. October 14, 2008

JULY 17, 2007. Salamander Hospitality, LLC today announced the purchase of the Innisbrook Resort and Golf Club, a 900-acre destination resort featuring four championship golf courses including the famed Copperhead, site of the PGA TOUR's PODS Championship played in March. Innisbrook becomes the newest addition to Salamander Hospitality's growing portfolio of premier properties owned by Sheila C. Johnson.

"We are very excited to have acquired such a well-respected resort with a history of being among the finest in Florida for outstanding golf and meetings," said Ms. Johnson. "Our goal is to elevate this unique resort and golf club to its rightful place as one of America's most sought after destinations, offering guests rest, relaxation and sporting pleasures and serving as an inspiring backdrop for group meetings."

Johnson and Salamander Hospitality President Prem Devadas also announced plans for an immediate renovation of the resort's amenities, including the Island Golf Course, already rated 4.5 stars out of 5 by Golf Digest, the three golf clubhouses and over 65,000 square feet of meeting space. Within the first 24 months, the company will also develop the resort's first full service luxury spa and renovate the tennis and fitness facilities. Mr. Devadas, who previously served as Managing Director of a collection of luxury properties which includes the renowned Kiawah Island Golf Resort said, "In addition to implementing our renovation plans, we will work with Innisbrook's proud and caring staff, many of whom have been with the resort for over 20 years, to enhance service throughout the resort in keeping with our Salamander culture. This combination of facilities and service enhancements, led by Chuck Pomerantz, our Vice President of Operations, will be the basis for Innisbrook's successful turnaround."

Jay Overton, who has a 30-year history as Director of Golf at Innisbrook commented, "Having been at the resort for so many years, I couldn't be more excited to see how committed Ms. Johnson and her team are to the overall improvement of all the resort's amenities. Personally, I am most excited with the plans for improvements to an already outstanding golf product, and what it will mean to next year's PGA TOUR event and the overall experience of the TOUR players, as well as our resort guests and club members."

Salamander Hospitality also owns and operates Woodlands Resort & Inn, near Charleston, South Carolina, one of only 3 properties in North America to receive the 2007 Mobil Five-Star and AAA Five Diamond Awards for both lodging and dining, and has been recently ranked #2 in Travel + Leisure's reader poll of best resorts in the continental U.S. and Canada. The company is currently developing Salamander Resort & Spa, a 168-room ultra-luxury resort on 340 acres in Middleburg, Virginia, scheduled to open in the fall of 2009.

Among her many other business ventures, Sheila C. Johnson is the only woman to have a stake in three professional sports organizations. Ms. Johnson is President & Managing Partner of the WNBA's Washington Mystics and a partner in Lincoln Holdings, LLC, which has an interest in the NBA's Washington Wizards and NHL's Washington Capitals.