BC PLACE PROJECT FUNDING APPROVED

Vancouver, BC (January 9, 2009): The Province of British Columbia has approved the business case for a comprehensive upgrade of BC Place. Starting this year and continuing until early fiscal year 2011-12, BC Pavilion Corporation (PavCo) has been approved for a multi-project envelope of up to $365 million, including contingencies, to complete interior refurbishments, significant deferred maintenance projects, and to install a retractable roof on the 25 year old stadium. The majority of the project will be self-financed by PavCo through the development of lands surrounding BC Place, existing cash reserves, expanded event business and sponsorship opportunities, and operational and energy savings resulting from the refurbishments. This major initiative will expand the citys sport, culture and entertainment district, offer a new home for professional soccers Vancouver Whitecaps and revitalize the world class facility for the BC Lions and the stadiums other major yearly shows. The multi-year project maintains a world-class sports and entertainment facility in downtown Vancouver by extending the life of the stadium by over 30 years, and creates economic benefits and jobs during both the construction process and the long-term operation of the revitalized facility. For more information about BC Place, visit www.bcpavco.com or www.bcplace.com -30Media contact: Trevor Pancoust, PavCo 604.646.3567