Snowmass Base Village
Aspen/Snowmass Village, Colo. - After almost four years of planning and
study, Snowmass Base Village was approved by voters in Snowmass Village.
Construction of Base Village and on-mountain improvements will begin in April of

"On behalf of Aspen Skiing Company and Intrawest Corporation we are thrilled
with the outcome of the vote," said Jim Crown, Managing Partner, Aspen Skiing
Company. "We are grateful to the citizens of Snowmass Village, the town
government and to all the people who worked so tirelessly on this project."

In October, the Snowmass Village Town Council voted unanimously to approve
the Base Village Final PUD application. It includes 246 hotel-style units, 349
condos and 10 luxury townhomes. Located at the base of the mountain, the
Snowmass Base Village, long in the planning phase, will now be built. The new
base village will include a 232-unit Westin conference hotel and a Little Nell Hotel
at Snowmass along with 64,000 square feet of new shops and restaurants - all
connected to the existing upper village area by a 90 second open-aired gondola.

The first phase of construction will begin this spring with the first stage of $45
million in on-mountain improvements. The installation of the new Sam’s Knob
Express six passenger lift will be ready for skiers and riders for the 2005/06
season along with the Cabriolet connector between Base Village and the existing
Snowmass Mall. The Sam’s Knob Express will take skiers and riders to the top
of Sam’s Knob in nine and a half minutes and will have a mid-way unload for
improved access to beginner terrain and lodging

Completed in time for the 2006-2007 ski season will be a world-class 25,000-
square foot children’s center, a new gondola from the village to the base of Elk
Camp, 40,700 square feet of shops and restaurants and the first 138 residential

"The ability to move ahead at Snowmass positions the Aspen/Snowmass
destination to capitalize on the anticipated growth of the industry over the next
decade," said Michael Berry, President, National Ski Areas Association.

Additional on-mountain improvements include the gondola-accessed Elk Camp
Meadows summer/winter activities center, new beginner park and lifts at Elk
Camp and a new Big Burn Express lift. For further information, go to www.

Aspen Skiing Company operates the four mountains in the Aspen/Snowmass area
- Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk - as well as the
award-winning Ski & Snowboard Schools of Aspen. The area offers unparalleled
nightlife and off-slope activities as well. Aspen/Snowmass is accessible by two of
the most convenient airports in the mountains - Aspen Sardy Field (ASE) (3 miles
from Aspen) and Eagle County Regional Airport (EGE) (70 miles from Aspen).
For more information on Aspen Skiing Company, please call 800-525-6200 or
970-925-1220, or visit the company’s website at
Snowmass Mountain
Looking up Fanny Hill
from the Snowmass
The Fanny Hill Lift
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2008 Progress