Intrawest Corporation
NYSE : IDR
TSX : ITW

August 10, 2005 08:00 ET

Private Residence Clubs By Storied Places® Prove Popular

VANCOUVER, Canada--(CCNMatthews - Aug 10, 2005) -

Storied Places®, the Private Residence Club (PRC) division of Intrawest Corporation, announced that its current sales volume has nearly doubled from the previous six months and is already outpacing 2004 numbers. Sales of current properties are moving on average at less than a 60-day sales cycle.

"We're seeing a new face to vacation real estate," said Steve Laver, President of Storied Places. "The PRC concept is resonating with people looking for the advantages of owning a second home without the hassle and high costs of whole home ownership."

According to the National Association of Realtors, the leading edge of the baby boomers turns 58 this year, creating the potential for heightened demand in vacation homes that will last into the next decade. This demographic trend is partially responsible for the fractional industry's explosive growth -- 2004's sales volume nearly doubled 2003 performance, rising to almost $1.1 billion in sales.

Storied Places provides an opportunity to own a distinguished residence in high-demand destinations. It is the only company to oversee the planning, design, development, sales and ongoing operation of each location. This commitment to creating a superior product has positioned Storied Places as an elite company within the PRC industry.

"Intrawest Corporation, our parent company, has been in the vacation real estate industry for many years earning high ratings from owners both past and present," added Laver. "Their reputation and experience has provided a solid foundation for Storied Places to build on, and enable the lifestyle our owners enjoy."

There are currently three Storied Places in operation: At Nature's Door, Whistler, BC, located alongside the Dave Murray Downhill on Whistler Mountain; Tonopalo, North Lake Tahoe, CA, on a private 270-foot stretch of white sand beach; and Sanctuary Aspen-Snowmass, CO, situated on the 210-acre Jim Engh designed golf masterpiece. In addition, Storied Places Tremblant will open this summer, while Inspiration at Sandestin Golf and Beach Resort in Florida, will be completed this fall.

Each PRC owner receives a fee simple deed to a guaranteed number of weeks per year plus unlimited access on a space available basis. This is true property ownership, both practical and progressive.

Storied Places communities also differ by offering "Storied Service" -- the finest care in an unpretentious manner. Storied Service includes managing all the details pertaining to vacation time via a Resident Innkeeper intimately familiar not only with the region, but the residence owners' needs and desires.

For more information on Storied Places visit www.storiedplaces.com.

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