Stratton Mountain Breaks Ground On Newest High-End Luxury Condominium Resort Development: Founders Lodge

Stratton’s Central Village Common Servicing All Mountain Residential Properties Nears Completion

Extensive real estate opportunities available at mountain ski/golf resort centered on a vibrant village community hosting sports activities, shopping and restaurants

STRATTON MOUNTAIN, Vt., June 2 /PRNewswire-FirstCall/ — Stratton Mountain today broke ground on its newest high-end condominium resort property Founders Lodge, and nears completion on its Village Common — all part of the Stratton Mountain master plan for a world-class commercial and residential resort Village, which is already home to great shopping, fine restaurants and exciting outdoor activities, along with a diverse range of lodging options including residential townhomes and condominiums. The Village main street and Village Common comprise the community centerpiece for existing residential properties, as well as the forthcoming Founders Lodge — phase one of which is scheduled for completion in 2006.

Stratton Mountain has long been a unique jewel of the East Coast mountain resorts. While home to world-renowned ski slopes, the resort has developed a strong sense of community through its loyal customer base supported by residential real estate plans. The residences and village give families the ability to spend time and create a sense of home at Stratton, unlike other resorts of this kind. The mountain is perfectly positioned in the Green Mountains of Vermont, close to New York, Boston and other East Coast cities. The world-renowned ski/golf resort currently draws visitors from the entire Northeast region, primarily NY, NJ and CT family suburbs. Homeowners routinely cite the strong sense of community as reasons for purchasing Stratton homes.

The Stratton Mountain Master Plan is a multi-million dollar venture that will feature a variety of unique resort amenities. While already recognized nationally for its outstanding ski and snowboard facilities, the resort has strong summer appeal with one of the most popular golf schools and golf resort facilities in the East. The Village Common, near completion, will feature an ice-skating pond, food/beverage warming hut, open greens with picnic facilities and additional outdoor gathering opportunities.

The ground breaking on the Founders Lodge residences builds on the momentum already established by the completion of three other cornerstone communities at Stratton: The LongTrail House, a 142 unit condominium residential building, currently built and completely sold out; Rising Bear Lodge with 38 individual home units, currently built and completely sold out; Hearthstone Lodge, with 38 residential units, completely sold out and opening for winter of 2005; and now Founders Lodge with 47 residential units in its first phase and 47 units in its second phase, coming to market this Fall.

“The groundbreaking on Stratton’s Founders Lodge property is exciting because it really brings the Village Common to completion and fully integrates the Stratton village with the wonderful residential community here,” said Mark Hall, Vice President of Development, Intrawest Placemaking.

Stratton Mountain has more than 90 trails, over 600+ acres with 16 lifts, and an additional 100 acres of trees and glade skiing. The highest peak in Southern Vermont, Stratton Mountain summit reaches 3875 feet with 2003 feet of vertical skiing. The mountain also boasts state-of-the-art snowmaking capabilities covering 90% of the terrain. Stratton Mountain has long been known for its outstanding ski and snowboard school, including the world- renowned Burton Learn To Ride snowboarding program.

Upon completion of the development efforts, Stratton Mountain will be one of the East Coast’s largest and most attractive resort destinations following in the footsteps of Intrawest’s successful resorts, including Canada’s Whistler Blackcomb; Mammoth, California and Quebec’s Tremblant. For more information on Stratton visit http://www.stratton.com/ or http://www.strattonrealestate.com/

ABOUT INTRAWEST

Intrawest Corporation (NYSE:IDR) (TSX: ITW) is one of the world’s leading destination resort and adventure-travel companies. Intrawest has interests in 10 mountain resorts in North America’s most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter and Paralympic Olympic Games. The company owns Canadian Mountain Holiday, the largest heli- skiing operation in the world, and a 67% 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 is developing five additional resort village developments at locations in North America and Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit http://www.intrawest.com/

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