Intrawest Corporation announces completion of private offering of Senior Notes Listed: NYSE TSX Symbols: IDR (NYSE) ITW (TSX) VANCOUVER, Oct. 6 /PRNewswire-FirstCall/ -- Intrawest Corporation announced today that it has sold, on a private placement basis in the United States under Rule 144A of the Securities Act of 1933 (the "Securities Act") and in certain Canadian provinces, US $225 million aggregate principal amount of 7.50% senior notes due October 15, 2013 (the US Notes) and Cdn $125 million aggregate principal amount of 6.875% senior notes due October 15, 2009 (the Cdn Notes). The net proceeds amounted to approximately US $322.6 million. The US Notes were sold at 102.312% and the Cdn Notes were sold at par. The company intends to use the proceeds from the sale of Notes, along with borrowings under the company's credit facilities, to retire US $394.16 million principal amount of its outstanding 10.5% senior notes due February 1, 2010 which are subject to a tender offer and consent solicitation which commenced on September 15, 2004. The Notes will not be and have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any Notes or any other securities, nor will there be any sale of the Notes or any other security in any jurisdiction in which such an offer or sale would be unlawful. Intrawest Corporation is the world's leading operator and developer of village-centered resorts. Intrawest owns or controls 10 mountain resorts in North America's most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic Games. Intrawest also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. Intrawest is developing five additional resort villages at locations 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. 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. For additional information, please contact Mr. John Currie, chief financial officer, at (604) 669-9777 or Mr. Tim McNulty, director, investor relations, at (604) 623-6620 or at DATASOURCE: Intrawest Corporation CONTACT: Mr. John Currie, chief financial officer, at (604) 669-9777 or Mr. Tim McNulty, director, investor relations, at (604) 623-6620 or at ; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

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