I-Parks-Oger International Consortium

I-Parks-Oger International Consortium

December 01, 2006 15:35 ET

I.Parks-Oger International Consortium Actively Pursuing Aerodream Project at Mirabel

MONTREAL, QUEBEC--(CCNMatthews - Dec. 1, 2006) - I.Parks-Oger International, the European consortium that plans to breathe new life into the former Mirabel terminal, is pleased to announce that major steps have been completed as part of the memorandum of understanding reached with Aeroports de Montreal (ADM) last February. These include the signing of a Cdn$280 million financing agreement to complete the initial phases of the AeroDream (RevePort in French) recreational multiplex.

The project is on track. The hotel renovation plan calls for a reopening during the 2007-08 winter season, to be followed by the inauguration of the initial components of AeroDream complex during 2008.

The timetable calls for leases to be signed before the end of the year, so that the technical analyses and hotel renovations can begin by early 2007.

On the basis of qualitative and quantitative marketing studies currently underway, the AeroDream concept has been refined. Complementary studies are being undertaken to test its market positioning and to determine the scale of the various project components according to target-customer preferences and profitability criteria contained in the financing agreement and business plan.

The hotel has been the subject of an in-depth technical evaluation, and a similar assessment of the former passenger terminal is in progress. Exploratory meetings are continuing with Quebec-based construction engineering firms with a view to forming a project management team. Lastly, an operating company, I.Parks Canada Inc., has been created under Quebec law.

The AeroDream project involves the redevelopment of the former passenger facilities at Montreal-Mirabel International Airport into an entertainment destination for family and/or friends covering more than 100,000 m2 and inspired by aquatic and outer-space themes.

This festive culture and leisure multiplex will feature a tropical atmosphere and bring together, under one roof, a giant aquarium and indoor wave beach, along with an array of high-tech attractions that will plunge visitors into mysterious worlds and send them cruising over distant planets. These will rely on a variety of screens (some of them domed), tactile feedback seats and 3D projection, developed under a technology agreement between the Consortium and the Futuroscope theme park in Poitiers, France.

The AeroDream complex will be unique in North America, designed to operate year-round and welcome visitors of all ages and regardless of physical condition. The target customer base includes the local population as well as tourists (traveling on business or for pleasure).

About I.Parks-Oger International Consortium

The Consortium is made up of I.Parks (Creative Industries) a French company founded by Mr. Assouline and Jacques Gautherie, and Oger International, a world-leading construction engineering firm.

The I.Parks Consortium specializes in designing, developing and assisting in the operation of urban parks with recreational and tourism themes. The firm's experts have helped build several such sites in partnership with Oger International, which employs more than 30,000 people and is an international specialist in the management and engineering of major international projects featuring a high degree of technology.

For more detailed information about the Consortium and selected projects (including AeroDream at Mirabel), visit Iparks-Ogerinternational-consortium.com.

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