Mammoth Lakes, Calif. – Intrawest Corporation (IDR:NYSE; ITW:TSE)  sold out all  25 properties offered at the release of Solstice, an exclusive collection of golf course town homes in the Sierra Star Neighborhood, on Saturday, August 21. Prices ranged from $675,000 - $985,000.  Construction on the project is expected to begin immediately.

Solstice is Intrawest’s fourth consecutive real estate sellout over the past 15 months in Mammoth Lakes. The company’s recent results there have been in line with a national trend of growing second home and vacation property sales. EscapeHomes.com recently reported that real estate values in select mountain and beach locations nationwide are up 22 percent in the second quarter of 2004 compared to the same time in 2003, appreciating at nearly twice the rate of primary homes.  

Located along the 16th fairway of the Sierra Star Golf Course, Solstice will be located in the Sierra Star "resort within a resort," Mammoth's premier golf neighborhood.  In addition to appealing to the avid golfer, these high-end properties will appeal to the year-round outdoor enthusiast with close proximity to the Eagle Express Chairlift and numerous hiking, biking, and running trails. Solstice is also within walking distance of the shops, dining, and nightlife of the award-winning Village at Mammoth. 
Next up for Intrawest in Mammoth Lakes is the release of Solstice II, 33 upscale town homes similar in design to last week’s launch that will be located on the same sight.  The sales release is expected for this coming winter. Prices have not been determined.
 
Mammoth has been undergoing a major transformation that is elevating its status among North America’s top mountain resorts. The cornerstone of the region’s renaissance is The Village at Mammoth, which is helping transform the area into a premier, year-round destination. 

Modeled after European alpine towns, The Village, recipient of the American Resort Development Association’s 2004 Gold Medal for Resort Architecture, features pedestrian streets lined with shops, boutiques, and eateries, special events and upscale accommodation.  A new 15-passenger express gondola links The Village to Mammoth Mountain.

For information about real estate in Mammoth Lakes visit intrawestmammoth.com or contact Jeff Skinner at 1-800-421-7005 or jskinner@playground.com

About Intrawest

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.

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For more information contact:

Douglas Ogilvy

Intrawest Regional Vice President, Southwest Region
775-332-1200

dogilvy@intrawest.com

Chris Lyman

Lyman Public Relations
530-546-3872

chris@lymanpr.com