``Smart'' Village at Squaw Valley USA Powered By Cisco Systems' Converged Communications Solution.

Business Editors and High-Tech/Travel Writers

OLYMPIC VALLEY, Calif.--(BUSINESS WIRE)--March 25, 2002

Homeowners, Guests and Business Owners to Benefit from

Technological Enhancements in New Resort Development

Intrawest's Village at Squaw Valley USA, with the help of Cisco Systems, Inc is seeking to take ski resort living to the next level by creating North America's first "smart village." The Village at Squaw Valley USA is installing a Cisco Systems Internet Protocol (IP)-based communications system that will raise the bar on technological conveniences for homeowners, guests, and commercial tenants on a platform that will enable future enhancements.

Intrawest, a company known for its high standards and distinctive resort real estate developments, is making the advanced corporate-level technology available throughout all of the development's condominium homes and commercial businesses. With nearly 80 percent of The Village at Squaw Valley's customer base residing in the San Francisco and San Jose areas, a solid technological infrastructure is nearly as important to this market as the development's ski-in, ski-out location.

"With help from Cisco, we are building a Village that meets peoples' dreams while also addressing their busy lifestyle demands," said Peter Cowley, Intrawest vice president of Lodging Product Development. "The Cisco communications system applied to our unique environment will provide superior services for Village owners, guests, and business operators, while creating a differentiator within the resort industry."

The communications system converges voice, video, and data traffic on a single high-speed DS3 broadband network, which will provide The Village at Squaw Valley with high speed Internet access and feature-rich IP phones. Homeowners, guests, and commercial tenants will be able to push a services button on their Cisco IP phones to access information such as the latest ski conditions, weather and road reports, news, or footage from the Squaw Valley USA web cams. This web-browsing feature has the capability to allow guests to pre-book activities, view restaurant menus, and even order room service. Additionally, the browser is set to be linked to the Village's own private intranet for easy communication and notification of community events.

"We are very excited to be working with Intrawest to incorporate modern technological conveniences into a premier resort setting," said Martin De Beer, vice president and general manager for Cisco's Enterprise Voice, Video Business Unit. "The Village at Squaw Valley USA is a great example of how the hospitality industry can benefit from advanced IP technologies."

Other Village advancements in the works include remote kiosks with similar features to the in-room phone system, plus an interface that will enable guests to download information and email to their PDAs. Room key cards will become "smart cards," with which guests can charge goods and services at Village purveyors. Parents could even give their kids key cards with pre-set spending limits for use throughout the resort. In the future, each Village home will have teleconferencing services, streaming video, and video-on-demand made available over the new converged network.

Cisco Systems also is developing a Virtual Private Network (VPN) for The Village at Squaw Valley USA that will enable homeowners and guests to utilize secure high-speed connections for access to their corporate networks. The VPN used in conjunction with Cisco's IP phones will allow guests to plug their work IP phones into a wall jack in their Village home. This allows the users work phone extension, and all of the personal information programmed on their phone, to appear as if it were plugged in at the office. This functionality is enabled by Cisco's Extension Mobility technology.

First Ascent Lodge, Phase I of the Village development, opened in February at the base of Squaw Valley USA with ski-in, ski-out accommodations, shops, eateries, and attractions in a European-style setting.

One, two, and three bedroom condominiums include gas fireplaces, heated slate floors, patios, fully equipped gourmet kitchens, furnishings designed for mountain life, and daily housekeeping and linen service. Additional amenities include outdoor hot tubs, heated walkways, billiards lounge, Kid's Club with interactive play stations, a theater room, laundry facilities, and valet, bell, and concierge services.

For additional information visit www.thevillageatsquaw.com or call 888/805-5022.

About Intrawest

Intrawest Corporation (NYSE:IDR)(TSE:ITW) is the leading developer and operator of village-centered resorts across North America. The company owns nine mountain resorts, including Whistler Blackcomb, North America's most popular mountain resort. Intrawest also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. The company has a significant investment in Compagnie des Alpes, the largest ski company in the world in terms of skier visits and a 45 per cent interest in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world. The company is headquartered in Vancouver, British Columbia and is located on the World Wide Web at www.intrawest.com.

The statements which are not historical facts contained in this release 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, seasonality, weather conditions, competition, general economic conditions, currency fluctuations and other risks detailed in the company's filings with the U.S. Securities and Exchange Commission.