COPPER MOUNTAIN IS BEING SOLD

Community Stakeholder,

I am pleased to inform you that Intrawest has entered into an agreement to sell its interests in Copper Mountain to Powdr Corp, a leading mountain resort operator based in Park City, Utah. The transaction is expected to close in December 2009 and the definitive purchase agreement is subject to regulatory approvals including the issuance of a U.S. Forest Service special-use permit to Powdr Corp.

We believe this transaction represents a positive outcome for Copper Mountain and it will provide numerous benefits to Summit County. Powdr Corp operates several ski resorts throughout North America and Copper will be an important addition to their resort family and their first resort property in Colorado.

This winter season it will be “business as usual” and there will be no impacts on the guest experience. The team at Copper will continue to provide the exceptional level of service that our customers, passholders and homeowners have come to expect. All vacation reservations and season pass products will be honored as per usual. This includes all joint marketing initiatives with Steamboat Resort and Winter Park, including the popular Rocky Mountain Super Pass suite of products that provide access to ski and ride at Copper Mountain, Steamboat and Winter Park.

As a key member of our community, I will continue to keep you updated on this initiative as we move through this process over the coming months. I look forward to seeing you on the slopes of Copper this season.

Regards,

GARY RODGERS
PRESIDENT, CHIEF OPERATING OFFICER COPPER MOUNTAIN RESORT