WHISTLER BLACKCOMB HOLDINGS INC. ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION

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

WHISTLER, BC, Nov. 12 /CNW/ - Whistler Blackcomb Holdings Inc. (the "Corporation") today announced that the underwriters have elected to exercise an over-allotment option to purchase from Intrawest ULC ("Intrawest") an additional 3,750,000 common shares of the Corporation at a price of $12.00 per share.  The over-allotment option was 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 will not receive any proceeds from the sale of these additional shares.

The closing of the over-allotment is scheduled for November 16, 2010.  Following completion of the over-allotment, Intrawest will hold approximately 24% of the common shares of the Corporation.

The over-allotment is being  made through a syndicate of underwriters led by CIBC and RBC Capital Markets and includes 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.

About Whistler Blackcomb

Consistently ranked as North America's top ski and snowboard resort, Whistler Blackcomb, the official alpine skiing venue for the 2010 Olympic and Paralympic Winter Games, is situated in the Resort Municipality of Whistler, a scenic two-hour drive north of Vancouver, British Columbia on the spectacular Sea to Sky Highway.  Whistler Blackcomb is Canada's premier four season mountain resort, featuring two adjacent and integrated mountains, Whistler Mountain and Blackcomb Mountain, with 200 marked runs, over 8,000 acres of skiable terrain, 14 alpine bowls and three glaciers.  Whistler Blackcomb has a mile-high vertical drop, the largest area of skiable terrain, the most marked trails and the highest lift capacity of any ski resort in North America. Whistler Blackcomb offers a variety of summer activities, including hiking and biking trails and sightseeing on the highly acclaimed PEAK 2 PEAK Gondola and a vibrant pedestrian village filled with award-winning après ski bars, restaurants, patios, cafés, shops, galleries and spas in a spectacular natural setting. 

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements or information, within the meaning of applicable Canadian securities laws, including, but not limited to, the expected closing of the over-allotment and expectations, plans, goals, objectives, assumptions, information or statements about future events or conditions which may prove to be incorrect.  Although the Corporation believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements because the Corporation can give no assurance that such expectations will prove to be correct.  The forward-looking statements are based on the estimates and assumptions made by the Corporation in light of its experience and perception of current conditions and expected future developments, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated.  Such risks and uncertainties include, among others, general economic, business and market conditions and other risks as are detailed in the Corporation's prospectus dated November 2, 2010.  Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release, and the Corporation has no intention and assumes no obligation to update or revise any forward-looking statements to reflect new events or circumstances, except as required by applicable Canadian securities laws.

For further information:

Tabetha Boot
604-938-7381