VAIL RESORTS ANNOUNCES DETAILS FOR 5th and 6th GRADE “SCHOOL OF SHRED” PASS PROGRAM. PLUS, PRICING CHANGE ANNOUNCED FOR COLORADO AND SUMMIT PASSES

· Fifth graders will continue to receive three free days of skiing at Vail, Beaver Creek, Breckenridge and Keystone; Vail Resorts offers a $99 6th grade program valid for four ski days at each Colorado resort
· Prices for Colorado’s most popular passes, the Summit and Colorado Passes, set to increase at midnight
· Epic Season Pass pricing remains unchanged at $579 for adults, $279 for children. Purchase by Nov. 15

BROOMFIELD, Colo. – Sept. 4, 2008 – School is back in session for most Colorado kids and in just a few weeks the newly named Vail Resorts’ “School of Shred” 5th and 6th grade student ski program will be in session on the slopes of Vail, Beaver Creek, Breckenridge and Keystone, providing similar benefits to 5th and 6th graders as in years past just with a new name, a new photo pass, a new redemption procedure and an additional day for the 6th grade program.

With the countdown to the Nov. 7 opening of Breckenridge and Keystone and with Arapahoe Basin gunning for an October start date, now is the time to get one of Colorado’s most popular passes. Today, Vail Resorts announced a $10 pricing increase for The Summit Pass™ to $409 and The Colorado Pass™ to $449, which will take effect at midnight Thursday, Sept. 4. The newly launched Epic Season Pass™ will remain unchanged at $579 for adults and $279 for children, but must be purchased by Nov. 15.

School of Shred
As in years past, Vail Resorts will continue to offer Colorado 5th grade students three free unrestricted days of skiing (or snowboarding) at each of its Colorado resorts – Vail, Beaver Creek, Breckenridge and Keystone – through a newly named program administered by the Company called “School of Shred.” Sixth graders will receive four unrestricted days of skiing (or snowboarding) at each of the Company’s Colorado resorts for $99.

To receive the 5th or 6th grade “School of Shred” pass, a parent or guardian must present documentation proving eligibility (report card or school ID that indicates grade level or a valid birth certificate) at any resort season pass office or any Front Range Vail Resorts’ pass sales location** during the fall pass sales time period. Students must be present at time of purchase to get their photo taken for their Vail Resorts “School of Shred” pass.

Passes will be loaded with the ski days and will also be enabled with radio frequency technology to allow for a hassle-free “easy scan” process, eliminating the need to physically present the pass in the lift lines this season. Passes are non-transferable and the 6th grade pass is non-refundable.

For details, visit www.coloradopass.com or call 888-215-3867.

Summit and Colorado Pass pricing change
Pricing for Colorado’s most popular ski passes is set to increase tonight at midnight (Thursday, Sept. 4) to $409 for The Summit Pass™ and $449 for The Colorado Pass™.

The Summit Pass™ gives skiers and snowboarders unlimited, unrestricted access to Breckenridge, Keystone and Arapahoe Basin and starting tonight at midnight will be $409 for adults, $319 for teens (ages 13-18) and $209 for children (ages 5-12).

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 and will be $449 for adults, $339 for teens (ages 13-18) and $219 for children (ages 5-12).

Pricing for The Epic Season Pass™ will not change and will continue to be $579 for adults and $279 for children. The unlimited, ski-as-much-as-you-want, unrestricted Epic Season Pass™ with no black-out dates features more than 18,000 acres of skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly and Arapahoe Basin for the entire 2008-2009 season and is considered one of the best deals in the industry this season, but must be purchased by Nov. 15, 2008.

Pass renewals for Summit and Colorado passes are available online at www.coloradopass.com . Renewals or new passes may be purchased 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 and Dumont, as well as Flatiron Crossing Mall, Park Meadows Shopping Center, The Shops at Northfield in Stapleton and The Orchard Town Center. For resort pass sales locations and times, call 888-215-3867.

For more information about the Summit or Colorado passes, visit www.coloradopass.com . Visit www.epicpass.com to purchase your Epic Season Pass™ or for more information about this revolutionary season pass.

* 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.

Keystone and Arapahoe Basin Four Pack
Additionally, Vail Resorts is offering 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).

Colorado Ski Country 5th and 6th Grade Programs
Colorado Ski Country USA will continue to offer their 5th and 6th grade programs for the 2008-2009 ski season. For more information about these programs, visitwww.coloradoski.com/Passes/5thGradePassport .

More information about Vail Resorts
For more information about Vail Resorts’ new deals, programs, capital projects and exciting news, visit www.snow.com .

About Vail Resorts
Vail Resorts, Inc. is the leading mountain resort operator in the United States. The Company’s subsidiaries operate the mountain resort properties at the Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, the Heavenly Ski Resort in the Lake Tahoe area of California and Nevada and the Grand Teton Lodge Company in Jackson Hole, Wyo. The Company’s subsidiary RockResorts, a luxury resort hotel company, manages properties across the United States and the Caribbean. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com <http://www.vailresorts.com> and consumer website is www.snow.com <http://www.snow.com> .