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A&K and Preferred Retreats Discontinue Name-Licensing Agreement

Preferred Retreats and Abercrombie & Kent announced today that they have mutually agreed to discontinue an existing licensing agreement between the two companies. The agreement, initiated in April 2003, gave Preferred Retreats, an operator of destination clubs, the right to use Abercrombie & Kent's brand name for marketing of its Private Retreats and Distinctive Retreats Clubs.

“We have reached a natural conclusion to this partnership with the sellout of our first two clubs,” said Rob McGrath, President and Chief Executive Officer of Preferred Retreats. “The two clubs will continue to operate as they have in the past with no changes. Having just launched Legendary Retreats, a Tanner & Haley Destination Club, we are now focused on expanding the Tanner and & Haley brand and its unique identity.”

“Our long term business strategy now requires that we maintain full control over our valuable brand name,” said Geoffrey Kent, Chairman and Chief Executive Officer of Abercrombie & Kent.

Although the licensing agreement has been discontinued, Abercrombie & Kent and Preferred Retreats have mutually agreed to continue the current arrangement of allowing existing members of the two Retreats clubs to continue booking Abercrombie & Kent Tours on the same basis as in the past. “The Preferred Retreats Clubs licensing agreement provided for this service and Abercrombie & Kent will continue offering it to existing Preferred Retreats club members,” Mr. Kent said.

About Abercrombie & Kent

For more than 40 years, Abercrombie & Kent has been internationally recognized as the first name in luxury adventure travel. The company has built its award-winning reputation by being the first to bring unexpected comforts and amenities to remote destinations worldwide and providing privileged access to people and experiences in Africa & Egypt, Orient & Australasia, Europe, South America & the Galapagos, Antarctica and North America. Travel with Abercrombie & Kent combines the convenience and service of a U.S. - based company with 24/7 support from a network of 47 on-site offices in destinations worldwide. More information about Abercrombie & Kent and its luxury adventure travel services can be found on the company's Web site at Luxury Travel, Travel, Luxury Vacations, Luxury Tours, Luxury Trips - Abercrombie & Kent.

About Intrawest Corporation
Intrawest Corporation is a world leader in destination resorts and adventure travel. The company has interests in 10 resorts at North America’s most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic and Paralympic Games. Intrawest owns Canadian Mountain Holidays, the largest heli-skiing operation in the world, and an interest in Abercrombie & Kent, the world leader in luxury adventure travel. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest – a private resort club with nine locations throughout North America. Intrawest develops real estate at its resorts and at other locations across North America and in Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit Intrawest. The World's Greatest Playgrounds.