PR Newswire/Les Echos/

Press Release

www.compagniedesalpes.com

Implementation of a leaner, more streamlined, and more integrated organization
at Compagnie des Alpes.
Franck Silvent is named Deputy Managing Director

September 28, 2009 - As announced in March by Compagnie des Alpes Chairman and
CEO Dominique Marcel, the Group's new organization has been finalized and will
be rolled out on October 1, 2009.

The reorganization aims to make company management better integrated and more
streamlined, increasing performance and paving the way for an ambitious and
value-creating industrial strategy. It will allow the Group to take full
advantage of complementary expertise and competencies and to capitalize on
industrial synergies.

The new organization rests on three pillars:
-  Reduction of structural costs and a shortening of the chain of command for
   decision-making 
-  Managing the Group through two essential means of value creation:
    o A new thrust for organic growth, an aggressive approach to sales, and the
      exploration of every new avenue of development
    o The consolidation of industrial and operational excellence
-  Optimization of operational performance, especially through close oversight 
   of operations and bolstered management control

At the request of the Chairman and CEO, the Board of Directors has named Franck
Silvent Deputy Managing Director. He will accede to the post on 
October 1, 2009. Working with the Chairman and CEO, Mr. Silvent will lead the 
Group and thus oversee its strategic and organizational transformation. In 
addition, the Department of Finance, Strategy, and Development, working under 
Mr. Silvent's supervision, will now include the Legal Department and the 
Department of Information Services.

To meet these new strategic demands, Group management will henceforth be 
divided by overall business function. Two horizontal departments, common to 
both our business sectors, are now being set up.

Associate Managing Director Serge Naïm will lead the Department of Marketing,
Development, and Products. Its chief missions will be to increase the
attractiveness of our sites, improve their sales performance, and identify new
opportunities for development.

Associate Managing Director Roland Didier has been named head of the Industrial
Department, which is in charge of industrial policy for the Group as well as
investment policy, purchasing, risk management, quality assurance and
sustainable development.

Three operational departments have been created to manage the operational
performance of our sites and guarantee the application of Group policies.
Associate Managing Director Jean-François Blas and Bernard Chapuis will run the
Department of Operations for Ski Areas, while the Department of Operations for
Leisure Parks will be under Olivier Garaïalde's control.

Bernard Chapuis and Olivier Garaïalde will be joining the Executive Committee,
whose five other members are the Chairman and CEO, the Deputy Managing 
Director, and the three Associate Managing Directors.

Sandra Picard has been named Group Director of Communications.

Dominique Marcel said: " We have opted for a fluid, integrated, and lean
organization for maximum performance and an aggressive industrial strategy. It
should allow us to confidently take full advantage of every synergy within the
Group. With this new configuration, our Group is set to achieve its objectives
and increase its value-creation. This year, as we celebrate the twentieth
anniversary of Compagnie des Alpes, I would like to thank all of our employees.
After all, it is thanks to them that our Group has risen to leading positions 
in its markets. I am confident that this new stage of our development will be
crowned with success. "

Biographies of main figures:

Franck Silvent, 37, is an ENA (Ecole Nationale d'Administration,) graduate and
former inspector of public finances. He was Deputy Director at the Department 
of Finance and Strategy of the Caisse des Dépôts from 2002 to 2005, joining 
CDA that same year as member of the Management Board and Director of Finance,
Strategy, and Development. In 2009, he was named CDA's Deputy 
Managing Director.

Serge Naïm, 53, is a graduate of HEC (Hautes Etudes Commerciales, School of
Management). He was CFO and then Assistant General Manager for Finance at Euro
Disney and was a member of the Executive Committee until 2003. He held several
operational positions during his 1 1-year tenure. He joined Compagnie des Alpes
in January 2005 as a member of the Management Board and Director of the Leisure
Parks division. In 2009, he was named Associate Managing Director of CDA.

Roland Didier, 48, is an ENSAM (Ecole Nationale Supérieure d'Arts et Metiers,
National Engineering School) engineer and has spent most of his career in
ski-area operations. He held several positions at Serre Chevalier before 
joining CDA Group, in 1997. He was General Manager and then Chairman of the 
Management Board of the Flaine and Giffre ski areas before becominga member of 
the CDA Management Board and Director of the Ski Areas division in 2006. In 
2009, he was named Associate Managing Director of CDA.

Jean-François Blas, 56, is an HEC graduate (Hautes Etudes Commerciales, School
of Management). He began his professional career in management positions at
several service groups before joining STVI as General Manager, in 1988, 
becoming its CEO in 2002. In October 2007, he joined Compagnie des Alpes Group 
as a member of the Management Board and Deputy Managing Director of Ski Areas. 
In 2009, he was named Associate Managing Director of CDA.

Bernard Chapuis, 60, is a computer and civil engineer, and a graduate of the
Ecole Centrale de Marseille and of INPG. He joined Méribel Alpina as Technical
Director in 1983, after nine years at a DDE (a governmental infrastructure
agency at the département level). He was named Associate Managing Director of
Méribel Alpina in 1992 and led the company from 1992 to 2003. He then became
Chairman of the Management Board of the SELALP, which was in charge of setting
up the Vanoise Express cable-car connections and managing the Paradiski ski
area. He had been Chairman and CEO of SMA (Les Arcs) since 2006.

Olivier Garaïalde, 42, is a graduate of the Ecole Hôtelière de Lausanne. He
was Director of Management Control and then of Hotel Operations at Disneyland
Resort Paris for nearly ten years. He had also worked for the restaurant chain
TGI Friday's in Paris and in the United States before joining Compagnie des
Alpes in 2005 as Director of Operations for Leisure Parks.

Sandra Picard, 37, is a graduate of the Ecole Supérieure de Commerce de
Bordeaux. Starting in 1996, she held a series of management-control positions 
in various divisions of Euro Disney SCA before taking charge of Investor 
Relations in 2000. She had previously (starting in June 2006) been in charge 
of Public Relations and Internal Communications for CDA Group's leisure parks.

Upcoming announcements: October 27, 2009, after market close: 2008-2009 sales
figures 

        December 15, 2009, after market close: 2008-2009 annual results

Compagnie des Alpes is a major player in the field of leisure production in
Europe. The company operates 37 leisure sites, including 16 leading ski areas 
in the Alps (including Tignes, Val d'Isère, Les Arcs, La Plagne, Les Menuires,
Méribel, and Chamonix) and 21 leisure parks (including Parc Astérix, Grévin,
Walibi, etc.) in seven European countries: France, Italy, Switzerland, the
Netherlands, Belgium, Germany, and the UK. Consolidated sales were EUR579
million (23 million visitors) for the financial year ending September 30, 2008,
with Group net profit of EUR36.2 million.

CDA is in the indices SBF 250, CAC mid 100, and CAC mid & small 190.
ISIN: FR0000053324; Reuters: CDAF.PA; FTSE: 5755 Recreational services

Contacts:
Compagnie des Alpes:        Sandra Picard     +33.1 46 84 88 53 
                            sandra.picard@compagniedesalpes.fr
Kablé Communication Finance Catherine Kablé   +33.1 44 50 54 75
                            catherine.kable@kable-cf.com
                            Céline Pasqualini + 33 1 44 50 54 73
                            celine.pasqualini@kable-cf.com
                      
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