Sun Peaks $10 Million Resort Improvements

Sun Peaks Resort Corporation (British Columbia) today announced ten million dollars of capital expenditures that will impact all areas of the resort and both summer and winter operations. The additional capital projects are part of the $285 million included in Phase Two of Sun Peaks four phase master development agreement.

“The resort’s success to date and the formula that drives Sun Peaks forward is a vision of quality and sustainable development,” explained Darcy Alexander, Vice President and General Manager of the Sun Peaks Resort Corporation. “Sun Peaks will continue to develop with the goal of adding facilities to our world-class resort destination. This year’s planned capital expenditures are consistent with our long term vision.”

The capital expansion planned for this year includes both recreational and real estate projects:

Recreational Capital Projects:

Summer 2005:

Completion of the long anticipated back nine of the golf course providing golf enthusiasts with a unique 18-hole alpine golf experience

Expansion of the Mountain Bike Park - rated one of the top 5 parks in North American by BIKE magazine - including new trails and improvements to the existing trail network

Winter 05/06:

New magic carpet lift and expansion of children's and beginner teaching terrain and facilities

New state-of-the-art Piston Bulley 300W Winch Cat groomer and expanded grooming of steeper black diamond terrain

Increased snowmaking capacity allowing for more terrain to be opened in the early season - including the terrain park and half pipe - and ensuring optimum conditions all season long

New resort wide RTP Computerized ticketing and Point of Sale system increasing efficiency and customer service levels

Real Estate Capital Projects:

Initial site preparation for The Residences all suite condo-hotel planned for the Village Core

Paving and completion of 1.5km of roadway past the 15th and 16th holes of golf course

Servicing for new single and multi family lot developments as well as the new East Village coming to the market in 2006

Doubling of the PZ3 water reservoir

Increased water and sewer treatment capacity

The recreational capital projects represent approximately 40% of the total $10 million in capital improvements planned with real estate capital projects making up the balance.

As part of a separate development, Sun Peaks Resort will become the site of Western Canada’s first Ice Palace Hotel scheduled to open in December 2005. In addition, the resort's popular Icewine Festival will be expanded to five days for next season and will run from January 18 - 22, 2006.

Skiing in Jasper National Park's winter playground is truly for all ages. Jasper's winter wonderland is treasured for an uncrowded hospitable atmosphere.

Marmot Basin's downhill Ski Mountain offers ski enthusiasts spectacular opportunities.

Cross country skiers enjoy over 300 kilometres of ski trails that make Jasper one of the largest cross country ski areas in Canada.

Backcountry ski enthusiasts also love Jasper's day trips and multi-day ski trips to opportunities all over the national park.