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A.J. (Jim) Wells a Director of the Company since August 2002 has recently retired as President and Chairman of two boards governing Telluride Mountain Village roads utilities common areas conference center and gondola operations. He has also recently retired as a consultant to the Telluride Ski & Golf Resort. Mr. Wells is Chairman of the Audit Committee and a member of the Executive Committee. Mr. Wells previously served as a Town Councilman in Avon Colorado and President of Telluride Ski & Golf Company. Mr. Wells is an inactive certified public accountant and currently involved in real estate investments. | 