VANCOUVER, March 13, 2002 - Intrawest Corporation today announced the launch of a new community concept to be developed and managed by a separate, wholly owned company called Storied Places. Plans for the new company call for the creation of small, exclusive neighborhoods of high-end resort homes where the benefits of owning a full-sized private residence are combined with limited commitment and personalized service never before offered by Intrawest. The first Storied Place, At Nature's Door, will be built in Whistler, British Columbia and is now being sold.

"Our research tells us that there is a group of people who want to own a full-sized vacation home comparable in comfort and quality to their primary residence, but don't want the responsibility and cost that goes along with it," said Michael Coyle, Intrawest's senior vice president, Marketing. "They want a vacation experience where the details are attended to before and during their stay, so all they have to think about is connecting with family and friends and doing whatever they love doing most.

The desires of this group sparked the idea for our Storied Places concept."
Each home will be sold in shares of 10 giving owners an opportunity to enjoy this new community concept for approximately Cdn$233,000 to $300,000 per share. Owners will be able to spend a minimum of five weeks a year in their home where they can enjoy the richness of their local surroundings or simply nestle into the comfort of their resort. There are also two guest suites available for booking by owners when their home is not available or when they have additional guests.

Homes will not be available for rent by the public.

According to Coyle, Intrawest has been studying this business since the purchase of Blackcomb in 1986. It is only now that management feels ready to tackle this market niche. "Successful products have been introduced by other resort leaders over the past few years but they lack one very important
component: a sense of intimacy," he said. "Small, magical sites and the tie that binds the community together, a resident innkeeper couple, will help to create a unique level of intimacy many people are looking for in a memorable vacation experience."

It is expected that Storied Places will comprise no more than 25 exclusive three-to-four bedroom homes built with authentic architectural style and inspired craftsmanship using only the best in art and furnishings. A resident innkeeper couple, with a resort insider's knowledge and connections and
an understanding of the fine art of living, will provide services ranging from securing the best table at the best restaurant in town on a busy weekend to stocking wine cabinets and refrigerators with the owner's favorites and placing family photos on the mantel. Each Storied Place will also include amenities that complement its location. At Whistler, owners will have access to the 4,500-sq. ft. Owners' Lodge complete with a spa, two guest suites, fitness
room, steam room and sauna, grand lodge room with billiards, games and a library, and outdoor spa pools.

Jim Onken, Storied Places president, said the company will develop and manage communities around the world. "Think about the truly unusual, mystical places in the world; small corners that are filled with a splendor in history and folklore. Places with a quality of spirit that draws us to them. That's where you'll find Storied Places," he said. "And that is why we've chosen Whistler to launch our new concept. It's known around the world for its unique culture, its beauty and its allure."

At Nature's Door will be located at Whistler Creekside just above Taluswood in Whistler, BC. Tucked away from the hustle and bustle of the village but with easy access to the action and energy of the resort, At Nature's Door will consist of 22 exquisite ski-in, ski-out mountain homes complete with all of the amenities and services typical of a Storied Place.
 
 

The company owns nine 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. 

Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties.