Vancouver - Intrawest, a world leader in the development and management of experiential destination resorts, today announced that it successfully completed an agreement to refinance a $1.7 billion loan which was due on October 23, 2008. The Company received unanimous support from its existing lender group.

“We are very pleased to have reached an agreement with our lenders, particularly given the challenges of the global credit markets,” said Bill Jensen, chief executive officer at Intrawest. “The support Fortress and our lenders have shown underscores their confidence in Intrawest and will enable us to continue to execute on our long-term strategic plans. Intrawest has great assets, a sound business model and a solid track record. We are preparing for another successful winter season and look forward to providing our resort guests and homeowners with the exceptional level of service they have come to expect from our resort properties.”

2008-11-03