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 Intrawest Breaks Ground on The Appalachian; Will Elevate New Jersey Ski Slope from a Day Trip Locale
to a Destination Resort
VERNON, N.J., Dec. 12, 2003 -  Intrawest Corporation (NYSE: IDR; TSX: ITW), the world's leading operator and developer of village-centered resorts, today broke ground on The Appalachian, the cornerstone condominium hotel property at Mountain Creek, Vernon, NJ.  The groundbreaking of The Appalachian marks a milestone in the establishment of the Village, a signature feature of Intrawest resorts.

Lorne Bassel, Executive Vice President of Intrawest's Resort Development Group, said, "Today's groundbreaking on the cornerstone of the future Village at Mountain Creek represents more than just a single vision.  It is the birth of a four-season premier resort that will elevate Mountain Creek from a day trip locale to a much sought-after recreational vacation destination.  The nearest Intrawest resort for millions on the Atlantic seaboard, Mountain Creek is well on its way to becoming the next, full-scale East Coast resort getaway, following in the footsteps of other Intrawest success stories like Whistler Blackcomb-now North America's number-one ranked mountain resort-Mammoth in California, Tremblant in Quebec and Stratton in Vermont."

Mayor John Logan of Vernon Township, along with other New Jersey local and state government officials such as William D. Whately, New Jersey's Secretary of Commerce, were on hand to celebrate this occasion, which represents a landmark event for Mountain Creek, Intrawest, the township of Vernon and the state of New Jersey as a whole.  Also present were Jay Wilmoth, Director of Development, Mountain Creek, Charles Blier, Vice President and General Manager, Mountain Creek and Steve Rice, Senior Vice President Eastern Region, Intrawest.

Mr. Blier said, "An incredible transformation has taken place since Intrawest acquired the resort in 1998.  Our master plan has generated over $100 million in state-of-the art ski industry investments and has been developed to consistently exceed our guests' expectations.  We have seen an annual visitation climb to over half-a-million visitors; and that's only the beginning.  The four-season village at Mountain Creek will become a tourism destination, recognized along the entire eastern seaboard."

The Village will feature shops, restaurants, ski-in / ski-out hotel-style condos and underground parking and will be close to all that Mountain Creek offers.  When completed, the Village at Mountain Creek will have up to 1,000 resort homes on land along both sides of Route 94.

Conveniently located at the entrance to the Village at the foot of the slopes, The Appalachian is scheduled for completion in December 2004.  The lobby, with high ceilings with wood beams, wrought iron detail and a crackling stone clad fireplace, will create a warm welcome with the ambiance of an Adirondack Grand Hotel.  A cozy owners' lounge with a fireplace, fitness center, four-season swimming pool, two steaming hot tubs and a spectacular, private courtyard, set in natural surroundings, are some of the additional amenities that will beckon homebuyers to The Appalachian. Already in high demand, the 100 resort homes made up of studio, one, and two-bedrooms in The Appalachian will come exquisitely furnished and equipped with all the touches of home.

Just 47 miles from New York City, Mountain Creek provides recreational activities for every season and family member, including skiing and snowboarding, mountain biking, the number-one water park in the state and proximity to six championship golf courses.  The Appalachian Trail of New Jersey runs through the many thousands of acres of wilderness property that is adjacent to Mountain Creek.  Mountain Creek has become a premier venue for world-class snowboarding competitors, attracting Olympic-caliber athletes from around the world.

Intrawest Corporation (NYSE: IDR; TSX: ITW) is the world's leading developer and operator of village-centered resorts. The company owns or controls 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 is developing additional resort villages at six resorts in North America and Europe. The Company has a 45 per cent interest in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world. Intrawest is headquartered in Vancouver, British Columbia.

Intrawest Corporation

The Appalachian at Mountain Creek

Also See: Intrawest Starts Construction of the Appalachian, a Full Scale Resort Village Condominium Hotel Project at Mountain Creek, Vernon, NJ / October 2003
Intrawest Plans 222-suite Condominium-hotel, The Westin Trillium House, at Blue Mountain, Ontario / December 2003

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