Investments

Chairman change for Escapia

Bank Of America Investment Escapia appoints VacationSpot.com founder and former Expedia executive Steve Murch as chairman.

Investment Opportunity Murch co-founded online vacation rental network VacationSpot.com in 1997 which was purchased by Expedia in 2000.

advised hotel investment company that intends to qualify as a real estate investment trust (REIT) for federal income tax purposes. The Company will initially focus its investment activities in the United States and Mexico. Over time, it also may pursue investment opportunities in Central and South America, the Caribbean and Western Europe. Highland' national investment strategy will enable it to achieve consistent returns, take advantage of cyclical changes in different markets and distinguish it from other lodging REITs by expanding its acquisition pool to include investments whose financial performance may not be highly dependent on the United States economy.

Banc Of America Investment At Expedia, he led the team that created the first dynamic travel packaging service on the web, which today generates more than $2B in annual gross bookings.

George C. McNamee has served as Chairman of First Albany Companies Inc., a specialty investment banking firm, since 1984 and is a managing director of FA Technology Ventures, an information and energy technology venture capital firm. He serves as Chairman of Plug Power Inc. ( PLUG).

Banking Investment "Steve joins Escapia at a very exciting time in our business," said Chris C. Kemp, president and CEO of Escapia.

VANCOUVER, B.C., Oct. 1, 2003 Mr. Jeff Booth, President and CEO of BuildDirect, is pleased to announce the appointment of Mr. John D. Roach to the Board of Directors. Mr. Roach is Chairman and CEO of Stonegate International, a private investment and advisory services company based in Dallas, Texas. He is also Executive Chairman of Unidare US, the North American subsidiary of Unidare plc, and Irish company headquartered in Dublin.

Investment Solution Strategic "Today, over 15,000 vacation homes in over 50 destinations worldwide are managed on Escapia's platform. We have enabled over $200M in reservations since our launch and have significantly increased revenue for our customers through our internet marketing platform. We are on the forefront of a huge industry transition to hosted on-demand, web-based systems and services and adding Steve Murch to help drive Escapia's vision is a huge win for our company and our customers."

We also encourage you to review your investment strategy periodically as your financial circumstances and the tax laws change.

Investment Banking Services "I am truly excited to be a part of the Escapia team," said Murch.

Bank Investment "The company is uniquely positioned to be the dominant player in the vacation rental market. Consumers spend nearly $25 billion annually in reserving vacation homes, yet a decade after the initial internet boom, it's still remarkably difficult to find and book the property you want. Most professional vacation rental managers don't have the resources or the technology to leverage the internet to gain broader distribution and increase revenue. Escapia is changing that."

Alternative Investment Prior to VacationSpot.com, as an executive at Microsoft, Mr. Murch conceived and managed its online gaming strategy, and created the Internet Gaming Zone (now the MSN Gaming Zone), which led to the development of Xbox Live. He was also instrumental in Microsoft's development and launch of Microsoft Access and FoxPro.

Online Investment Services Murch holds a BS in business and computer science from Carnegie Mellon University, an MS in Computer Science from Stanford University, and an MBA from Harvard University, where he graduated a Baker Scholar.

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