Intrawest Corporation announces the successful launch of the Grand Imagine in Orlando

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213 suites and residences pre-sold in the first release of the Village of Imagine representing gross sales of $83 million

ALL DOLLAR AMOUNTS ARE IN U.S. CURRENCY

Listed: NYSE TSX
Symbols: IDR (NYSE) ITW (TSX)

VANCOUVER, Jan. 12 /PRNewswire-FirstCall/ -- Intrawest Corporation, a world leader in destination resorts and adventure travel, today announced the successful launch of the first release of the Village of Imagine, located in Orlando, Florida. The launch of the Grand Imagine, a 256-unit condominium hotel, achieved a pre-sale rate of 83 per cent. A total of 213 suites and residences were pre-sold to Priority Reservation Holders, including 19 unit sales awaiting subject removal, representing $83 million in pre-sale revenue. Prices for the suites and residences in the condominium hotel ranged from $270,000 to $650,000.

"We are very pleased with the success of The Village of Imagine launch as our initial plan was to release only 130 of the 256 total suites and residences of the Grand Imagine," said Connie Wynne, regional vice president for Intrawest. "However, due to the great demand we released and pre-sold the majority of the 256 residences. Customers recognize that the Village of Imagine will be a world-class destination resort in the heart of Orange County providing luxury accommodations to business and leisure travelers alike, with unmatched access to the nation's second largest convention center and the area's renowned entertainment venues."

The Village of Imagine is Intrawest's second resort development in Florida after the Sandestin Golf and Beach Resort. Located in Orlando and adjacent to Orange County Convention Center, The Village of Imagine will provide luxury accommodations and easy access to amenities essential for the continued growth of the area's convention business. The Village of Imagine is a multi-phased, joint venture development project with construction on the first phase expected to begin in the first quarter of 2006 with completion estimated in early 2008. When fully built-out, this 30-acre master-planned resort village will include approximately 1,000 condominium suites and residences.

The Village of Imagine launch caps off the most successful month of real estate launches in Intrawest's history. In December Intrawest successfully launched four projects, achieving a 93 per cent pre-sales rate and $534 million in pre-sale revenue. The projects include Honua Kai on Ka'anapali Beach, Maui; Etoile du Matin in Tremblant, Quebec; Lewis Ranch at Copper Mountain, Colorado and most recently the Village of Imagine in Orlando, Florida.

"Our record results in December are representative of the strong demand we continue to experience for our real estate in both mountain and warm- weather locations," said Joe Houssian, chairman, president and chief executive officer of Intrawest Corporation. "With the addition of two warm-weather resort locations, The Village of Imagine in Orlando and Honua Kai on Maui, we will add to our future annual unit delivery rate. Our focus on accelerating the development of our real estate pipeline is paying off and we are confident that demographics will continue to drive demand for our real estate."

The Village of Imagine is owned by Orlando Village Development Limited Partnership, a joint venture partnership. When completed, it will feature approximately 1,000 residences showcasing a mixture of architectural styles authentic to the state, while devoting ample space to native landscaping, abundant water features, natural walkways and preserved green areas. Located in the heart of Central Florida and next to the Orange County Convention Center, The Village of Imagine will provide a place for business travelers to dine and unwind, a venue for destination travelers to marvel in the one-of-a- kind retail concepts and a friendly gathering place for locals who seek an exceptional level of service and attention. For more information, visit http://www.villageofimagine.com.

Intrawest Corporation (IDR:NYSE; ITW:TSX) is a world leader in destination resorts and adventure travel. The company has interests in 10 resorts at North America's most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games. Intrawest owns Canadian Mountain Holidays, the largest heli-skiing operation in the world, and an interest in Abercrombie & Kent, the world leader in luxury adventure travel. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest - a private resort club with nine locations throughout North America. Intrawest develops real estate at its resorts and at other locations across North America and in Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit http://www.intrawest.com

Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Intrawest's actual results could differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, Intrawest's ability to implement its business strategies, seasonality, weather conditions, competition, general economic conditions, currency fluctuations and other risks detailed in the company's filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission.

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