FORMER CIRQUE DU SOLEIL PRES INVESTS $25 MILLION IN LE MASSIF

Daniel Gauthier, former  President of the Cirque du Soleil, is the new owner of Le Massif, previously owned and operated by the Société de développement du Massif de Petite-Rivière-Saint-François. As  new owner, he will be injecting a minimum of $25 million into the acquisition and the future development of the ski centre.

Priorities for Mr Gauthier will be simple during the upcoming year: to put the finishing touches to Phase II of the Development Project by completing the facilities belonging to the National Alpine Ski Training Center, to go ahead with other mountain improvements including the purchase of additional equipment, and  lastly, to concentrate on further infra-structural work.

Other than these development projects, deemed essential to this season's success, Mr Gauthier gives himself until Spring 2004 to assess the situation and devise a master plan for Le Massif's expansion. In his view "a mountain so different and so naturally beautiful should call for a new development project as different and as respectful as possible of its environment."

One thing is certain: this new owner intends to position Le Massif as a top destination, regionally, nationally as well as internationally. "Le Massif came into being because of the community which also nurtured its outstanding growth rate. It is up to me to see it through to maturity'' states Mr Gauthier. "A mountain so different and so naturally beautiful should call for a development project as different and as respectful as possible of its environment'' he specifies.

This Baie-Saint-Paul resident feels it is important to maintain a strong partnership with the community which played such a key role in Le Massif's rise to present day status. "Over the years, the Société de développement du Massif and each and every other local actor have all played a phenomenal role in making Le Massif what it is today!'' he is careful to point out. To achieve this, he wishes to become actively involved in the area with the goal of "involving the area'' in the ski centre's future.

In what concerns the different players behind this recent transaction, the end result seems to be extremely fulfilling to all. "The partnership between the Quebec government and the private sector shall allow this gem of awesome natural beauty to soar to its full potential as a haven for recreational alpine skiing as well as international level competition. A new influx of investment dollars will mean that an exceptional site will receive top-quality infra-structures" said Mr Rosaire Bertrand, Delegate Minister of the Quebec City region.

Mr André Harvey, Deputy of the Chicoutimi - Le Fjord region at the House of Commons, represents the Honourable Mr Claude Drouin, Secretary of State at Economic Development of Canada, in saying "it is always thrilling to watch promoters like Daniel Gauthier who invest in and invest of themselves in helping their region expand and soar. The signing of a deal like this will most certainly inject new strength into Le Massif's development and therefore into the whole Charlevoix region.''

Mr Jean-Guy Bouchard, Chairman of the MRC de Charlevoix (Municipalité régionale de comté), considers the transaction under a favourable eye. "As well as being a resident of the area, Daniel Gauthier has proved himself an admirable promoter. His prime achievement is the Cirque du Soleil!'', he states.

Mr Fernand Labrie, President of the Quebec Association for Olympic Development, also wished to add, via press release, that he was "pleased to see the Olympic Torch passed on to Mr Daniel Gauthier, a notorious businessman who is not to be doutdone when trying to reach new heights by setting top international standards, as he did with the Cirque du Soleil.''

Jean Labbé, President of the Société de développement du Massif de Petite-Rivière-Saint-François, says "we can't help but be thrilled by the deal which comes at a perfect time in Le Massif's expansion.''

Le Massif de Petite-Rivière-Saint-François, located a short 73 kilometres from Quebec City in the beautiful Charlevoix region, is a unique ski center with a solid reputation. Its 770-meter vertical drop far exceeds any other of its kind east of the Canadian Rockies, its average 650 cm snowfall per year and its idyllic mountain and seaside settings are the envy of many. Further, Canada's elite ski teams are attracted to Le Massif's National Alpine Ski Training Center, also able to host world-calibre ski competitions.

For more information, visit www.lemassif.com.