TPW Management Board Names New CEO

February 03, 2012

TPW MANAGEMENT BOARD NAMES NEW CEO

Manchester Center, Vermont -

At its 2011 4th quarter meeting, the Board of Directors of TPW MANAGEMENT LLC, a leading resort property and community management Company, announced the promotion of Paul W. Carroccio to the position of Chief Executive Officer. He will be responsible for the overall management and leadership of the Company as it continues its growth into new areas and will report to the Board.

"Paul W. has been a key part of our success, and we were thrilled to promote him to this important position," said Paul T. Carroccio former CEO and now Executive Chairman of TPW. Paul W., 34, joined the company in 2001 as a Portfolio Manager and quickly rose to several supervisory and management positions. At his most recent post of Operations Manager, Paul W. has fundamentally shaped the TPW Management that exists today. We plan to continue our growth in the coming years and we are confident that Paul W. will be an important asset to help our organization reach its goals, said Board Member Mr. Richard Tarrant.

Paul W. is a graduate of Purdue University with a BS in Civil Engineering. He is a Certified Manager of Community Associations, an Association Management Specialist as certified by The Community Association Institute; President of the Burr & Burton Alumni Association, and a Director of the Vermont Rural Water Association.

About TPW MANAGEMENT LLC

Founded in 1987 and focusing on community management since 1998, TPW is known throughout New England as the premier resort community association management Company that utilizes leading edge technology to provide its customers with the service they desire while enhancing the value of their second homes. The Companywhile continuing to innovate through technology, increasing efficiencies, and providing superior customer service. The employees of TPW Management are its most valuable asset and each one is considered to be an individual with unique abilities and whose principles are compatible with those of the Company. The Company's philosophy is to use technology, extensive measures of accountability, and proven systems to allow great people to perform in an extraordinary manner. TPW currently serves nearly 6000 clients throughout ski areas in Vermont, the New Hampshire Lakes Region and the beach area of Delaware Employing over 100 people in these areas, TPW also proudly supports numerous community philanthropies. TPW is a repeat recipient of the Best Places to Work in Vermont award, was named to the 5x5x5 Growth Awards in 2011, and was on the Inc.5000 list in 2010. For more information about TPW visit the website at www.tpwmanagement.com.

For more information please contact: Laura Heinel
PO Box 1250
Manchester Center, VT 05255
Phone: 802-366-1420 Fax: 802-366-1427
Email: ljh@tpwmanagement.com

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