INTRAWEST ULC ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, Nov. 16 /CNW/ - Intrawest ULC ("Intrawest") today announced that the underwriters have purchased from Intrawest an additional 3,750,000 common shares of Whistler Blackcomb Holdings Inc. (the "Corporation") at a price of $12.00 per share pursuant to the exercise of an over-allotment option granted to the underwriters in connection with a previously announced offering of common shares of the Corporation which closed on November 9, 2010. The Corporation did not receive any proceeds from the sale of these additional shares.

Following completion of the over-allotment, Intrawest holds approximately 24% of the common shares of the Corporation.

The over-allotment was made through a syndicate of underwriters led by CIBC and RBC Capital Markets and included Scotia Capital Inc., BMO Capital Markets, TD Securities Inc., Goldman Sachs Canada Inc., Canaccord Genuity Corp., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

For further information:

Intrawest ULC
710-375 Water Street, Vancouver, British Columbia
Michael Forsayeth
Chief Financial Officer
604-695-8270