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White Pass & Yukon Route Derailment

KING CITY, ONTARIO -- (Marketwired) -- 07/24/14 -- TWC Enterprises Limited (TSX: TWC) -

The White Pass & Yukon Route Railway, headquartered in Skagway, Alaska, confirms that one of its scheduled scenic excursion trains partially derailed in Alaska at approximately 1:55 p.m. local time on July 23, 2014 near Milepost 20 northeast of Skagway. The location of the derailment is on a section of track that routinely handles thousands of passenger excursion trips annually across the scenic and historic White Pass & Yukon Route constructed at the turn of the last century. The derailment involved two vintage locomotives and four of 15 passenger rail cars. The train was carrying approximately 360 passengers and crew. There were 19 people treated at the clinic in Skagway for various bumps and bruises type injuries and everyone was released within hours of arriving at the clinic. "Any injury connected to our rail operations, whether to our passengers or our employees, is always considered serious," said John Finlayson, President of White Pass & Yukon Route Railway. "Although we have not yet identified the specific cause or causes of this incident, a thorough investigation is underway, and all reasonable efforts will be made to ensure that safe operations remain the overriding focus of our workforce and management team."

White Pass & Yukon Route rail operations have been temporarily suspended to allow its investigation to proceed and expert analysis of the cause to be completed. It is anticipated that rail operations will resume as soon as the company can assure the safety of its passengers and employees. "Safety is, and always will be, our number one priority," Mr. Finlayson said.

All required regulatory reporting requirements concerning the incident have been met, and our insurers have also been notified. The railway is expected to resume full operations on July 25, 2014.

Corporate Profile

TWC is engaged in golf club operations under the trademark, "ClubLink One Membership More Golf." TWC is Canada's largest owner and operator of golf clubs with 55.5 18-hole equivalent championship and six 18-hole equivalent academy courses at 45 locations in Ontario, Quebec and Florida.

TWC is also engaged in rail, tourism and port operations based in Skagway, Alaska, which operate under the trade name "White Pass & Yukon Route." The railway stretches approximately 177 kilometres (110 miles) from Skagway, Alaska, to Whitehorse, Yukon. Presently, approximately 110 kilometres (67.5 miles) of the railway is in active service from Skagway, Alaska, to Carcross, Yukon. In addition, White Pass operates three docks, primarily for cruise ships.

Contacts:
White Pass & Yukon Route
Mr. John Finlayson
President
907-983-9800
907-983-2017 (FAX)
[email protected]

TWC Enterprises Limited
Mr. Robert Visentin
Chief Financial Officer
905-841-5360
905-841-1134 (FAX)
[email protected]

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