June 30, 2010

FOR IMMEDIATE RELEASE

DEVELOPMENT CORPORATION SELLS GOLF PROPERTY

Murray River, PEI - The Northumberland Community Development Corporation (NCDC) announced today that it has sold the Eagles View Golf Course and all of its assets to a company from Miramichi, NB, Canada.

In the spring of 2008 NCDC issued a statement seeking expressions of interest from interested parties to further develop lands surrounding Eagles View Golf Course in Murray River, PEI. "We are in the community development business and its time for NCDC to turn the golf course over to the private sector for further development," said Jamie Richards, Co-Chair of NCDC. "We have established the golf course, and are very proud of how it has matured over the years. The efforts of our manager and his staff in recent years have put us in a position where the golf course was a very sellable commodity. I believe the new owners realized early on that this golf course and the lands around it have enormous potential," added Richards. "Our Belfast-Murray River MLA Charlie McGeoghegan helped us contact those who could assist us through the sale procedure when we were starting the process and it proved to be a big help as the process moved along."

NCDC will continue to operate Cape Bear Lighthouse on a seasonal basis and will now look to establish a Main street project for Murray River.

The New Brunswick group were one party that became very interested in the golf course. After visiting the property last year discussions began to evolve that have led to the sale. "Our company could not be happier. We were amazed by the property from the first time we saw it and our excitement only continues to grow. Northumberland Community Development Corporation should be extremely proud; they really have created a wonderful facility," said Sterling Stewart, one of the new principals.

"During the 2009 season we had many visits and conversations with NCDC. One thing that was evident was the tremendous job the staff at Eagles View has done. We are happy to announce that Gary has agreed to join our company. Gary will lead all golf operations and will see an expanded role into other areas with our company as well. Gary's proactive approach and experience in the industry exemplifies his ability to put services into action that will allow Eagles View to readily surpass the expectations of our members and guests." added Stewart.
"We will continue to update the community and members of the golf club on our future goals for the facility. We are extremely pleased to be part of this wonderful community and look forward to all of the great plans we have for Eagles View in the years to come. We wish to keep a close connection with the community going forward."
"Working for NCDC over the last four years has been truly great. I have a fantastic team of employees and together we aim to provide exceptional value for everyone who plays the golf course. The growth we have had in recent years really went a long way and I'm happy I was able to assist NCDC through the process" said Gary Sheehan, General Manager.

"The board of directors should be very proud of what they have accomplished with this golf course and the benefit it is to their community. I am extremely excited about the new owners and my position within their company going forward. There is no doubt that there are an abundance of opportunities that coincide with this golf course." added Sheehan.

About Eagles View Golf Course

Eagles View is a 9-hole, par 36, championship golf course and has been operating since 2002. It is often regarded as the best 9-hole golf course on PEI. The course is as visually impressive as it is challenging. It uses the natural contours of the land and was constructed on both sides of MacLures Pond, the Province's largest body of fresh water a choice location for anglers. Eagles View is a member of Golf PEI and Gary Sheehan is the full-time General Manager and Canadian PGA Class "A" Professional. The golf course will operate as Eagles View Golf Club going forward.

For more information on the sale of Eagles View Golf Course, contact: