SAM Magazine--Vancouver, B.C., April 22, 2004--Intrawest has combined all of its travel and resort businesses into the newly formed Leisure and Travel Group, which includes Intrawest's mountain and warm-weather resorts, lodging and central reservations businesses, and Club Intrawest. This group of businesses generated $650 million in revenues in fiscal 2003.

"The formation of the Leisure and Travel Group will enable us . . . to offer a whole new range of experiences and benefits to our customers and to build powerful global brands," said Joe Houssian, Intrawest chairman, president and chief executive officer.

The reorganization will take advantage of the company's five-year investment in company-wide enterprise systems, customer information systems and reservations capabilities. These systems, combined with consolidation of customer contact and marketing resources, will improve interaction with customers. The systems will also facilitate cross-marketing of the company's diverse winter and summer resorts and products. The new group will also share finance, IT and administrative infrastructure.

Veteran Intrawest executives Dan Jarvis and Hugh Smythe will lead the Leisure and Travel Group. Jarvis, formerly the company's executive vice president and chief financial officer, becomes president and chief executive officer. Smythe, formerly president, Resort Operations Group, will serve as president and chief operating officer. \