Heavenly Mountain Resort Extends Its Season Until May 2005

Resort Extends Season After Record-Breaking December-January Snowstorms Result in Above Average Snowfall

LAKE TAHOE, HEAVENLY MOUNTAIN RESORT, Calif./Nev., Feb. 9 /PRNewswire-FirstCall/ — With resort snow depths reaching up to ten feet due to record-breaking snowfall in late December and early January, Vail Resorts (NYSE:MTN) officials announced today that the winter ski season will be extended by two weeks at its Heavenly Mountain Resort until May 1, 2005.

“We are extending the ski season into May at Heavenly, thanks in part to huge snowfall in late December and early January that dropped more than 18 feet on Heavenly Mountain. More than thirteen feet of snow fell in January, nearly five feet more than the resort’s 10-year average for the entire month. Heavenly and our resorts in Colorado have great ski conditions this season, while several other resorts around the continent have not been so fortunate,” said Adam Aron, chairman and chief executive officer of Vail Resorts.

After receiving all of the record-setting snowfall in January and another four inches of powder in the past 48 hours, Heavenly resort officials decided to extend the area’s ski and snowboard season by two weeks, moving the season closing date from April 17 to May 1, 2005.

Settled snow depths on Heavenly Mountain currently range from eight to 10 feet, with mid-winter surface conditions of machine-groomed packed powder and skier-packed powder. One hundred percent of the mountain’s 4,800 acres are open, including the resort’s world-famous off-piste and tree skiing.

Now is the perfect time to book a spring break ski trip to Heavenly, which is known for its spectacular spring skiing and riding. Specialty packages, and current mountain conditions, are available on-line at www.skiheavenly.com or by calling 1-800-HEAVENLY.

About Vail Resorts

Vail Resorts, Inc. is the leading mountain resort operator in the United States. The Company’s subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado, Heavenly in California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyo. The Company also operates its subsidiary, RockResorts, a luxury resort hotel company with 10 distinctive properties across the United States. Vail Resorts Development Company is the real estate planning, development, construction, retail leasing and management subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE:MTN) . The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

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