Vancouver, (July 7, 2004) - Intrawest Corporation, the world’s leading operator and developer of village-centered resorts, announced today that it has acquired a strategic equity interest in the Abercrombie & Kent Group of Companies (A&K), the world’s leading luxury adventure-travel company. The companies will provide an expanded range of unique travel, leisure and vacation experiences. The goal is to provide existing and potential customers of both companies with a greater awareness of, and access to, the world’s most exciting and desirable vacation experiences in destinations around the globe. Terms of the transaction were not disclosed.

“This is a natural fit for our companies and our customers,” said Joe Houssian, Intrawest’s chairman, president and chief executive officer. “Our customers have come to trust Intrawest for our ability to provide great memories and vacation experiences. Abercrombie & Kent has a similar relationship with its customers and a history of providing access to unique experiences that are otherwise inaccessible.”

Abercrombie & Kent will utilize Intrawest’s technological services and database capabilities to increase revenue and decrease costs. These services include Intrawest’s customer relationship marketing systems, which will be used to introduce A&K’s unique vacations to Intrawest’s customer base, as well as to promote A&K’s products to a broader market.

Since 1962 A&K has earned its reputation by providing unexpected luxuries in even the most remote destinations. That means the best available accommodation, professional and knowledgeable guides, “insider” access to experiences not available through other operators, and a combination of safety, first-class service and breathtaking adventure. A&K’s variety of active, luxury adventure vacations include expedition cruising in the Galapagos Islands, hiking on the Inca Trail in Peru, rafting in Costa Rica, African safaris, climbing Mt. Kilimanjaro, Tuscan villa stays, elephant trekking in Asia, jet boating in New Zealand and small-ship cruising worldwide.

“Our objective with this partnership is to broaden our reach within the luxury adventure-travel market, taking advantage of the many opportunities that exist today,” said Geoffrey Kent, A&K’s chairman, president and chief executive officer. “Our association with Intrawest will provide the ability to pursue this growth strategy, as well as expand our range of product offerings in North America. By bringing together A&K’s expertise in planning outstanding holidays and Intrawest’s variety of industry-leading resort experiences, we will create an even more compelling vacation portfolio for A&K’s retail agency distribution channel.”

Five times A&K has been voted “World’s Best Tour Operator and Safari Outfitter” by the readers of Travel + Leisure Magazine. The company was also chosen as “World’s Leading Luxury Specialist Tour Operator” by travel professionals from 80,000 travel agencies in over 200 countries at the World Travel Awards in New York.  The travel agents who read Recommend Magazine voted A&K “Best Africa/Middle East Tour Operator.” A&K operates in more than 100 countries on all seven continents and is located on the World Wide Web at www.abercrombiekent.com.

Intrawest Corporation (IDR:NYSE; ITW:TSX) is the world’s leading developer and operator 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. The company also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. Intrawest is developing an additional six 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 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:

Intrawest

Stephen Forgacs, Manager, Investor Relations and Corporate Communications

(604) 623-6620

sforgacs@intrawest.com.

Abercrombie & Kent

Pamela Lassers, Director, Media Relations, Abercrombie & Kent

(630) 572-2923 x711

plassers@abercrombiekent.com.