Seven New Models Blend Technical Performance with Aggressive Styling

Oakley, Inc. (NYSE:OO) today announced the upcoming release of its fall 2000 footwear collection. Seven new models are scheduled to arrive at leading worldwide retailers in early June, including Athlete's Foot, Finish Line, Foot Locker, R.E.I., Sport Chek (Canada), City Beach (Australia), Olympia Sports (France) and EuroPalace-Matchpoint (Spain).

"Skeptics have always told me to never compete against established industry leaders," said Oakley's Chief Executive Officer Jim Jannard. "They said it when we reinvented sports goggles. They said it when we started from scratch with performance eyewear. And each time, the doubters were silenced when our business model achieved market leadership."

"Our first shoe combined ballistic Kevlar with race tire technology. It looked like nothing you'd ever seen because it performed like nothing you'd ever worn," continued Jannard. "For 25 years Oakley has maintained its devotion to authenticity, uncompromised standards, and passion for innovation. We pooled our resources and talent into reinventing the concept of performance footwear. The legacy continues."

"Oakley utilizes CAD/CAM engineering for product development, including a machine that fires lasers into an acrylic bath to create fully rendered, three-dimensional prototypes. Our technologies allow us to engineer every component from scratch," Jannard concluded. "Reinventing the product means reinventing the process. That frees us to explore technologies, and when necessary, invent new ones. At Oakley, we don't design ideas to fit machines. We design machines to fit ideas."

Flesh(TM) and Flesh Sandal(TM)

Oakley's fall 2000 collection includes the new Flesh and Flesh Sandal. Both lines blend the Traction Pod technology of the company's ShoeThree footwear with genuine leather and open-cell Aeroprene, a pliable synthetic that maintains comfort by minimizing heat buildup. Monolithic soles provide nearly a full inch of cellular padding beneath the foot while water-wicking synthetics control moisture. The Flesh Sandal adds venting for breathability and side drainage ports with mesh screens to block debris. Manufacturer's suggested retail: US$60-75.

Pit Shoe(TM) and Pit Boot(TM)

Rendered directly from 3-dimensional digital masters, the monolithic soles of the new Pit Shoe and Pit Boot are built from a substance as durable yet lighter than rubber. Unlike competitors' cushioning materials that pound down after a few weeks of wear, true urethane is used to maintain shock absorption. Raised sidewalls improve impact protection as ergonomic contouring and plush padding maximize comfort. Water-wicking synthetics provide comprehensive moisture control. Rendered in natural leather, the Pit Shoe comes with multi-port venting to release excess vapor. The Pit Boot is available in leather or abrasion resistant nylon. Manufacturer's suggested retail: US$100-110.

Nail(TM) Low-Top, Mid-Top and High-Top

Three new high-performance models incorporate the latest technical advances in footwear manufacture. Competitors' designs leave the mid-sole edge exposed, whereas Oakley's Nail raises the out-sole to encapsulate and protect the mid-sole. All three models are built with triple-cord nylon seaming that is 50% stronger than industry standards. Moisture transport liners use directional draw to pull perspiration away from skin. Specialized tread zones are tooled for skid stopping and traction climbing. Lasting boards are enhanced with an additional 2mm of shock absorbing urethane and all three styles include premium urethane insoles.

Nail Low-Top and Nail Mid-Top feature directional stress stitching along countersunk eyelets and multi-port venting with debris screens. Engineered for unforgiving terrain, the footwear is jacketed with natural leather and performance synthetics. Nail High-Top has a rugged mantle of Nubuc top-grain leather, thickened in support zones. Built for where the conventional road ends, the boot is weather treated with an acrylic/urethane blend. Zoned reinforcement maintains critical flex. The ergonomic lacing system embraces anatomical contours while the sculpted collar frees Achilles tendon motion. Gussets block debris and water from entering at the tongue and plush padding of high-density urethane maintains resiliency and comfort. Manufacturer's suggested retail: US$80-115.

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 eyewear, the company offers an expanding line of performance footwear, apparel, accessories, wristwatches 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. press releases, SEC filings and Annual Report are available at no charge through the company's Web site at www.oakley.com.

Safe Harbor Disclaimer

This press 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.