Ski and Snowboard Maker Rossignol Sold for $147 Million

Huntington Beach, CA – Quiksilver, Inc. today announced that it has received a binding offer for the acquisition of 100% of ski and snowboard equipment and clothing maker Rossignol Group. The offer is made by Chartreuse & Mont Blanc, headed by Bruno Cercley, a former CEO of Rossignol, returning the company to French ownership. Chartreuse & Mont Blanc is majority owned by Macquarie Group and supported by a non-voting minority interest by Jarden Corporation, owner of skiwear and ski equipment brands K2, Marker, Marmot and Volkl.

The proposed transaction value is €100 million, nearly USD $147 million at the current exchange rate. This amount is comprised of €75 million in cash and a €25 million Seller’s Note. It is subject to a financing condition and customary working capital adjustment.

Quiksilver plans to use the net proceeds from the contemplated sale to repay existing indebtedness.

The proposed transaction includes the sale of the Rossignol, Dynastar, Look, and Lange brands of winter sports equipment and apparel and is consistent with Quiksilver’s intention, announced in January 2008, to sell the Rossignol Group to reduce its exposure to the winter sports equipment manufacturing business. Quiksilver first acquired the Rossignol Group in July 2005.

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Robert B. McKnight, Jr., Chairman of the Board, Chief Executive and President of Quiksilver, Inc., commented, “This offer is a compelling transaction for Quiksilver and represents the culmination of a thorough sale process. Once completed, we can fully concentrate our efforts on our core apparel and footwear brands Quiksilver, Roxy and DC.”

The transaction is expected to close in Fall 2008 following receipt of regulatory approval and completion of required employee consultation procedures.

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