Chad Paul Appointed CEO of Bald Head Island Limited

Wednesday, October 6, 2010

Bald Head Island, NC – Bald Head Island Limited, LLC announces that Charles A. “Chad” Paul, III has assumed the role of Chief Executive Officer (CEO), effective October 4, 2010.

M. Kent Mitchell, current Bald Head Island Limited, LLC President and CEO, and Mark D. Mitchell, Executive Vice-President, will transition from their respective operating positions and assume seats on the Company’s Board of Directors.

Paul has served in an advisory role to Bald Head Island Limited, LLC for many years, including sitting on the Company’s Executive Committee, affording the opportunity for a seamless transition to the Company’s new management structure. His resume includes serving as a Managing Partner of Harbor Island Partners, LLC, a private equity investment firm, where he is responsible for overseeing a diverse mix of industry and product service company holdings. Paul’s past employers include JP Morgan Chase, Salomon Brothers, Inc., and Arnolt Partners, LLC. He holds a B.A. degree in economics from Holy Cross and a Masters from the Harvard University Graduate School of Business Administration. Additionally, Paul is actively involved with the University of North Carolina at Wilmington where he serves on the Board of the Cameron School of Business.

“The change in leadership at Bald Head Island Limited, LLC reflects the Mitchell Family’s continued long-term commitment to the island community,” said Kent Mitchell. “We are excited about the energy, experience and leadership that Chad Paul will most certainly bring to his new position with the Company.”

Bald Head Island is a year-round and vacation community located just off the coast of Southport, NC. With no bridge connecting the island to the mainland, visitors take a 20-minute ferry ride across the Cape Fear River. Of the island’s 12,000 total acres, 10,000 are permanently protected and will never be developed. To learn more about Bald Head Island, visit www.baldheadisland.com.

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