Concert Properties Starts Construction of Phase 2 of Creekside at Silver Star

Press Release
July 14, 2000
VANCOUVER, BC -- Concert Properties is pleased to announce that construction of Phase 2 of Creekside will commence immediately.

This past ski season Concert completed the initial phase of Creekside, their first exciting new development on the mountain. Creekside is a selection of fine resort condominiums located in the midst of Silver Star's mountain magic and an easy stroll to the quaint Victorian era village.

David Podmore, President and Chief Executive Officer of Concert Properties, said ``The high quality of construction, outstanding location of the project and value for the dollar has made Creekside a huge success. Over 80% of Phase I has already sold and purchasers are now enjoying all the benefits that Silver Star Mountain has to offer. Buyers for Phase 1 suites originated, not only from the local market, but also from overseas locations such as Australia, the U.K. and even Hong Kong. Due to this overwhelming response, construction of Phase 2 of Creekside will commence immediately.''

Phase 2 will be similar in design to Phase 1, consisting of two 3-storey buildings containing a total of 52 resort condominiums. The new buildings will be situated in Creekside's premier location, overlooking the Silver Queen run and adjacent to one of the three main trailheads accessing the cross-country ski network. Suites are designed to maximize sun exposure and beautiful southern mountain views.

Phase 2 of Creekside will offer studios, 1 bedroom, and 2 bedroom suites. All suites will have open plan kitchens, rustic, shaker pine cabinetry and natural gas, river rock fireplaces. Features will include owners' lock-up for storage, balconies with views and bunk alcoves to maximize sleeping accommodation. Ground level entry suites feature private entrances within an enclosed sun porch. Amenities will include secure ski/board equipment storage, an outdoor hot tub in each building and a common fireside lounge.

``Phase 2 of Creekside will have location, location, location! The ski-in/ski-out access immediately adjacent to the Silver Queen Chair will make these new buildings premium, the ultimate location for ski resort accommodation. Silver Star has always been noted as a family mountain, and with Creekside located moments from the skating pond, tube town and the village centre, it will be ideal for all members of an active family,'' said Silver Star President, Judd Buchanan.

Construction of Creekside Phase 2 is scheduled to commence at the beginning of July, 2000. Completion of the buildings is scheduled for December 2000.

Concert is a home-grown company with home-grown loyalties, the benefits of which come through job creation and reinvested capital in B.C. At our core are 23 union and management pension plan shareholders representing more than 200,000 British Columbians who have entrusted us with their pension funds.

                     Creekside at Silver Star - Phase II
                                Fact Sheet

    Developer:           Concert Real Estate Corporation

    Architect:           Howard Bingham Hill Architects

    Location:            9808/9810 Silver Star Road, Silver Star Mountain,
                         B.C.
                         Overlooking the Silver Queen run, adjacent main
                         cross-country trailhead and a short stroll to the
                         village

    Description:         two 3-storey buildings

    Number of Suites:    52 suites
                         4 unique floor plans

    Suite Sizes:         400 - 830 square feet

                         A mix of studio, 1 bedroom with sleeping alcove and
                         2 bedroom resort homes

    Price Range:         $ TBD

    Construction Start:  July 2000

    Completion:          December 2000

    Sales:               Commencing Fall 2000

Highlights
Versatile Creekside is freehold strata title ownership,
optional furniture packages available, ski-in/ski-out
access, located near to the Silver Queen Chair, choice of
two designer colour schemes, complete with all kitchen
appliances, shaker style natural pine cabinetry, natural
gas ``river rock'' fireplace with custom wood mantel and
more!

Silver Star Mountain Resort offers 84 ski runs, 9 lifts,
2 high-speed quads, snowboarder's park and half-pipe,
tube park, 85 kilometers of cross-country trails, child
care, National Altitude Training Centre, snowshoe
safaris, dogsled and horse-drawn wagon rides, 8 hotels, 9
eating establishments and 4 lounges.

For further information: Rod Wilburn, (604) 688-9460 or (604) 602-3718,
Vice President, Sales & Marketing, Concert Properties Ltd.; Laura Gosset,
(250) 717-1677, Development Manager, Interior Region, Concert Properties Ltd.