FOR IMMEDIATE RELEASE

Olympic Spirit Comes to Toronto

The "Spirit" of Toronto Uplifts Economy and Tourism with 21st Century Olympic Sports Forum

Housed in the Torch on the Square bordering the new Dundas Square in downtown Toronto, OLYMPIC SPIRIT will be a state-of-the-art exhibition space. This privately funded project estimated to cost upwards of $34 million is dedicated to celebrating the achievements of Olympic athletes.

Toronto - November 27, 2001

The International Olympic Committee (IOC) and Canadian Olympic Association (COA) in conjunction with the Olympic Spirit Group, under the auspices of the International Spirit Development Organisation and Toros Entertainment Inc. today announced a thrilling new concept in exhibition entertainment that will celebrate the spirit, excitement and emotion of the Olympic Games. Scheduled to open in the Fall of 2003, OLYMPIC SPIRIT is the result of years of co-ordination to produce an outreach program that will bring the Olympic Movement to the many people of the world who have never had the actual experience of attending the Games. Speaking on behalf of the IOC, David Aikman, Marketing Manager, expressed tremendous pleasure in his introduction. "The appeal of the Olympic Games is universal, so the IOC is always looking for new ways to include people in the Olympic Movement. We are very fortunate to have found local partners who share our vision to inspire the youth of the world. The "Olympic Spirit" project could not have found a better home."

The champion of bringing all the players together is Glenn Miller, President and Chief Executive Officer of PenEquity Management Corporation. Speaking on behalf of Toros Entertainment Inc., Mr. Miller stated "PenEquity has taken a lead role in the redevelopment of downtown Toronto and we have been committed to building projects which will enhance the quality of life in our city. It gives me great pride to bring "Olympic Spirit" to Toronto and to share this experience with the entire community. It is the right project, in the right place, at the right time." Landmark Entertainment Group, an internationally renowned corporation that leads the industry in high quality, themed attractions and exhibitions has been contracted to design the interior of the facility. "This is an incredibly exciting opportunity to take one of the world's most recognizable brands and create a world renowned experience" said Gary Goddard, Chairman of Landmark Entertainment. "My goal is not only to make the Toronto site a popular one, but to create an experience that so reflects the goals, ideals, emotions and spirit of the Olympics." The landmark building and media Tower will feature Olympic themed interactive entertainment and theatres, demonstration and coaching halls, Olympic exhibits from around the world, a retail store and a full service restaurant and sports bar.

"There is no greater icon of Canadian pride than a Canadian Olympic athlete" said Mike Chambers, President of the Canadian Olympic Association. "Every Canadian is touched by their courage and excellence - yound and old, men and women, east and west, urban and rural. It will be an honour to see so many of our heroes recognized in the Toronto Olympic Spirit Center, where so many visitors can share the pride of their achievements and relive the inspiration they invoke. We are thrilled to be part of such a fun, exciting and dynamic project" he said. Many of Canada's leading spokespersons for the arts and athletics are now being considered for a Board of Advisors comprised of prominent Canadian Olympians and a Board of Directors drawn from the business and arts communities to assist in the policy and direction of the complex.

OLYMPIC SPIRIT completes a significant component of the ongoing redevelopment program of downtown Toronto, of which Bobby Sniderman, General Manager, has played an integral role for years. "All the rigorous work that has been done over the past eight years now seems all the more worthwhile. There are so many dedicated people who have contributed to the success of the redevelopment program and I have been honoured to be associated with them and now Olympic Spirit. I can hardly wait for everybody to come back downtown and truly enjoy this remarkable neighbourhood."

OLYMPIC SPIRIT will place Toronto at the forefront of world cities with the creation of this legacy project to honour the spirit of achievement in all athletes of all ability - throughout the world.

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