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Press Release: Intrawest Corporation
October 19, 2006
VANCOUVER, BC -- Intrawest Corporation ("Intrawest") October 17 announced that the proposed statutory
plan of arrangement (the "Arrangement") involving Intrawest, its shareholders and optionholders and two
companies owned directly or indirectly by funds managed by affiliates of Fortress Investment Group LLC has been
approved by Intrawest securityholders. At the special meeting of Intrawest shareholders and optionholders held
October 17 the Arrangement was approved by more than 99.9 per cent of the securityholders voting.
The closing of the transaction remains subject to court approval in Canada as well as satisfaction or waiver of
other conditions specified in the Arrangement Agreement entered into on August 10, 2006, including approval by
the Ministry of Industry under the Investment Canada Act. Subject to such regulatory approval being obtained, an
application for final court approval is scheduled to be heard by the British Columbia Supreme Court on October
24, 2006. If court approval is obtained and the other conditions to closing are satisfied or waived, the transaction
is expected to close on October 25, 2006, after which all Intrawest shareholders will be entitled to receive U.S.$35.00
in cash for each Intrawest common share.
Intrawest Corporation (IDR: NYSE; ITW: TSX) is a world leader in destination resorts and adventure travel. The
company has interests in 10 resorts at North America's most popular mountain destinations, including Whistler Blackcomb,
a host venue for the 2010 Winter Olympic and Paralympic Games. Intrawest owns Canadian Mountain Holidays, the largest
heli-skiing operation in the world, and an 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 develops real estate at its resorts and at
other locations across North America and in Europe. 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. In addition, the completion
of the transaction contemplated by this release is conditional upon a number of factors, many of which are outside
of Intrawest's control. There is no assurance that the transaction will be completed at all or upon the same terms
and conditions previously announced.
If you would like to receive future news releases by email, please contact: investor.relations@intrawest.com
CONTACT: Mr. John Currie, chief financial officer, at (604) 669-9777 or Mr. Tim McNulty, director, investor relations
at (604) 623-6620 or at tmcnulty@intrawest.com
Source: Intrawest Corporation