Oakley, Inc. (NYSE: OO) Friday announced that it has reached an agreement to redefine its current relationship with VitroRobertson, its San Diego-based advertising agency.

Due to increased operating efficiencies and the in-house capabilities of its graphics department, Oakley has decided to bring creative development in-house. This decision will have no effect on the current campaign's execution, creative or delivery, which is completed and set to run as scheduled.

Oakley will retain VitroRobertson as its agency of record for media buying and planning. Oakley is also investigating the expansion of VitroRobertson's role in media planning for its key international markets.

"We're deeply appreciative and thankful for the creative talent and strategic energies that VitroRobertson put into our 2000 campaign. We are confident this year's campaign will successfully broaden Oakley's brand awareness and drive growth across all of our product categories," said Oakley Chief Executive Officer Jim Jannard. "The collaborative efforts and infrastructure realignment derived from working with VitroRobertson has us poised to continue producing `breakthrough' ads."

Oakley hired VitroRobertson as its agency of record for creative development and media services in August 1999.

About Oakley, Inc.

Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 70 countries. Trailing-12-month revenues through March 31, 2000 totaled $272 million and generated net income of $32.1 million -- a 12 percent net margin, excluding a one-time restructuring charge of $8.2 million recorded during the fourth quarter of 1999. Oakley, Inc. news releases, SEC filings and the company's Annual Report are available at no charge through the company's Web site at www.oakley.com.

Safe Harbor Disclaimer

This news release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: risks related to the company's ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the dependence on eyewear sales to Sunglass Hut; unanticipated cancellations of advance orders; risks that the net realizable value of assets disposed of in the footwear restructuring may differ from estimates used; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products; the ability to source raw materials and finished products at favorable prices to the company; foreign currency exchange rate fluctuations; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 1999. The company undertakes no obligation to update this forward-looking information.