Mr. David Wilcox reports

WHISTLER BLACKCOMB HOLDINGS INC. ANNOUNCES CREDIT FACILITY EXTENSION AND INTEREST RATE SWAP

Whistler Blackcomb Holdings Inc.'s 75-per-cent-held Whistler Mountain Resort LP and Blackcomb Skiing Enterprises LP have signed an agreement with their banking syndicate to amend and extend their existing credit facility. Under the terms of the agreement, the credit facility has been extended by one year to Nov. 12, 2019. The key terms of the partnerships' credit facility are otherwise unchanged from those announced on Nov. 13, 2013.

In addition, on Sept. 5, 2014, the partnerships entered into a four-year, $125-million interest rate swap with a Canadian bank, which has the effect of fixing the underlying floating interest rate on a portion of the principal amount outstanding under the partnerships' credit facility. The partnerships' effective interest rate on the $125-million amount swapped is 3.9 per cent based on the partnerships' leverage ratio at June 30, 2014.