Intrawest Corporation announced today that the City and County of Denver has granted it the exclusive right to negotiate a partnership to operate and develop Colorado`s Winter Park Resort. Intrawest is the leading operator and developer of village-centered resorts across North America. The company`s network of 10 mountain resorts includes Colorado`s Copper Mountain and Whistler Blackcomb in Canada.

“It is an honor to be selected to participate in the future of Winter Park. The character and attributes that have earned Winter Park a special place in the hearts of generations of Coloradans will remain key to the resort`s success in the years ahead,” said Gary Raymond, president and chief executive officer of Development and Acquisitions for Intrawest.

“This is an exciting day for Winter Park Resort,” said Gary DeFrange, president and chief executive officer of Winter Park Resort. “Intrawest has an outstanding reputation for guest service and developing and operating resorts and resort villages throughout North America. We look forward to working with them to enhance and expand Winter Park Resort.”

The city`s selection of Intrawest marks the end of a competition that began seven months ago with six contenders. Initial proposals were submitted last August and two finalists, including Intrawest, emerged on September 21.

“We look forward to building on the working relationships we have established with representatives of the City and County of Denver and the people of Winter Park,” said Raymond. “As we move forward in our discussions with the city, we will remain focused on creating a plan that will enhance the value of the resort experience for all stakeholders, while remaining keenly aware of the history and significance of Winter Park.”

Winter Park, Mary Jane (including Parsenn Bowl), Vasquez Cirque and Vasquez Ridge make up Winter Park Resort, one of the largest ski resorts in Colorado. The four adjacent mountains, each possessing their own unique character, are inter-connected by ski trails and lifts. The 2001/2002 season marks Winter Park`s 63rd year of operation. Twenty-two lifts including eight high-speed express quads, four triples, seven double chairlifts and three Magic Carpets provide an uphill capacity of 35,030 skiers per hour. Set in the Vasquez Mountains of Arapaho National Forest, Winter Park is the closest major ski resort to Denver. Winter Park Resort is located 67 miles (108 km) northwest of Denver.

Intrawest Corporation (IDR:NYSE; ITW:TSE) is the leading developer and operator of village-centered resorts across North America. The company owns 10 mountain resorts, including Whistler Blackcomb, North America`s most popular mountain resort. Intrawest also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. The company has a significant investment in Compagnie des Alpes, the largest ski company in the world in terms of skier visits and a 45 per cent interest in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world. The company is headquartered in Vancouver, British Columbia and is located on the World Wide Web at www.intrawest.com.

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