BROOMFIELD, Colo. – Aug. 20, 2008 – With the first dusting of snow on the peaks, Colorado skiers and snowboarders are gearing up for an “Epic” 2008-2009 ski and snowboard season at Vail, Beaver Creek, Breckenridge and Keystone, while eagerly awaiting the annual Labor Day weekend Ski Rex and Sniagrab sales events that traditionally kick off the countdown to the ski and snowboard season.

This Labor Day weekend is the last chance to purchase some of the state’s most popular Vail Resorts’ ski and snowboard passes – The Summit Pass™ and The Colorado Pass™ – at the lowest guaranteed prices of the year: $399 for The Summit Pass™ and $439 for The Colorado Pass™. The Summit Pass™ gives skiers and snowboarders unlimited, unrestricted access to Breckenridge, Keystone and Arapahoe Basin and The Colorado Pass™ offers unlimited, unrestricted skiing at Breckenridge, Keystone and Arapahoe Basin all season with an additional 10 days* at Vail and Beaver Creek.

New this season, Vail Resorts, Inc. (NYSE:MTN) is offering a revolutionary unlimited, ski-as-much-as-you-want, unrestricted season pass with no black-out dates called The Epic Season Pass™, that features more than 18,000 acres of skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly and Arapahoe Basin for the entire 2008-2009 season for $579. A child’s Epic Season Pass™ is $279. Additionally, Vail Resorts is bringing back the Keystone and Arapahoe Basin Four Pack for $149 that offers four days of skiing and snowboarding (restricted dates: Nov. 28-29, Dec. 27-31, Feb. 14-15).

“Everyone’s counting down to November and, here in Colorado, that also means welcoming the start of another epic ski and snowboard season at Vail, Beaver Creek, Breckenridge and Keystone,” said Rob Katz, chief executive officer for Vail Resorts. “The best way to get ready is to purchase your Vail Resorts’ season pass now, during the Labor Day weekend for the lowest prices of the year. Our Colorado and Summit Pass products have proven to be very popular with our Colorado skiers and snowboarders, and continue to offer our guests a terrific value this season. Now, with the addition of the Epic Season Pass™, Vail Resorts is providing the best variety and value to all of our guests in our mountain communities, in the Front Range, across the United States and around the world.”

All of the Vail Resorts passes – The Epic, Colorado, Summit and Heavenly season passes – will receive a high-tech upgrade for this season featuring a new state-of-the-art radio frequency technology that’ll offer an “easy scan” process giving skiers and snowboarders the option to keep their season pass zipped inside their jacket in the lift lines at Vail, Beaver Creek, Breckenridge and Keystone.

Passes will go on sale beginning Friday, Aug. 29 at numerous Front Range locations.** Prices will only be valid through Monday, Sept. 1, however, the passes will be available for purchase through Nov. 9 for The Colorado and Summit passes and through Nov. 15 for The Epic Season Pass™:

Benefits for pass holders
Vail Resorts is again offering added benefits for purchasers of The Colorado Pass™. New this year, they’re extending these benefits to purchasers of The Summit Pass™ and The Epic Season Pass™. To qualify for these benefits, guests must purchase their Colorado or Summit passes at one of our numerous outlets in Colorado or current pass holders can renew online at www.coloradopass.com through Nov. 9. Guests interested in the Epic Season Pass™ can purchase online through Nov. 15 to receive these added benefits:

One-year subscription to SKI Magazine.
Six Ski-With-A-Friend tickets, available at the discounted daily rate. Discounts vary throughout the season.
Half-price lift tickets at Heavenly Mountain Resorts all season.
Inclusion in the Colorado Pass Club (CPC), which entitles pass holders to exclusive member-only discounts, free offers and more (an e-mail address is required).

The following are Vail Resorts’ season pass products for the 2008-2009 season at the last-chance Labor Day prices.

The Colorado Pass™
The Colorado Pass™ offers unlimited access at Breckenridge, Keystone and Arapahoe Basin with no restrictions, plus 10 days at Vail and Beaver Creek with restricted dates.* The Colorado Pass™ is offered at $439 for adults, $329 for teens, ages 13-18 and $209 for children, ages 5-12.

The Summit Pass™ (formerly the Buddy Pass)
The Summit Pass™ provides unlimited lift access at the top Summit County resorts – Breckenridge, Keystone and Arapahoe Basin – with no date restrictions at $399 for adults, $309 for teens and $199 for children (ages 5-12).

The Epic Season Pass™
The Epic Season Pass™ makes an “epic season a reality” at $579 for unlimited, unrestricted skiing and snowboarding at Vail, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin in Colorado and Heavenly in Lake Tahoe. The Epic Season Pass is $279 for children (5-12).

All new and renewing pass holders will receive a new season pass before the start of the 2008-2009 season. For more information on Vail Resorts season pass products, visit www.coloradopass.com <http://www.snow.com/> or www.epicpass.com <http://www.epicpass.com/> or call (888) 215-3867.

* The Colorado Pass is restricted from use at Vail and Beaver Creek: Nov. 28-29, 2008; Dec. 27-31, 2008; and Feb. 14-15, 2009.

** All pass prices are valid through Monday, Sept. 1 only and will be subject to change after that date. Pass renewals are available online (www.coloradopass.com) and new passes will go on sale Friday, Aug. 29 at select Front Range locations including Boulder Ski Deals (Boulder), Colorado Ski and Golf (Aurora, Arvada, Colorado Springs and Littleton), REI (Denver Flagship, Fort Collins, Lakewood, Englewood, Boulder and Colorado Springs), Breeze Ski Rentals in Lakewood, Flatiron Crossing Mall and Park Meadows Shopping Center, as well as during the Labor Day weekend Ski Rex and Sniagrab sales events in Denver. Epic Season Passes may also be purchased online at www.epicpass.com <http://www.epicpass.com/> .

New for the 2008-2009 Season
Vail’s New Dawn
Sparked by the 2008 opening of The Arrabelle at Vail Square, Vail’s renaissance has set a new standard for luxury and guest service throughout the community that parallels the extraordinary experience on the mountain. Several more properties are set to unveil upgrades next ski season.

Beaver Creek Resort caters to kids
Following on the heels of last season’s successful opening of the Buckaroo Express Gondola designed for the littlest guest of Beaver Creek’s children’s ski and snowboard school, the resort is now introducing The Ranch, a state-of-the-art ski and snowboard school offering world-class instruction for kids and teens.

Breckenridge serves up new Peak 7 base area
The upgrades to Breckenridge’s off-mountain experiences continue with a new base area at Peak 7 including skier services, The Sevens restaurant and world-class lodging.

Keystone uplifted by new River Run Gondola
The largest capital project for the Company for next season will be a new eight-passenger, state-of-the-art Gondola in Keystone, which will include moving the bottom terminal into the River Run Village, constructing a new skier bridge, adding a mid-station and enhancing the skier plaza area.

Arapahoe Basin offers Montezuma Bowl for second season
Last season, Arapahoe Basin debuted 400 acres in Montezuma Bowl. Next season, Arapahoe Basin will expand and enhance its parking with more parking spaces, a new pedestrian tunnel under Highway 6 and new shuttle service from remote parking.