Oakley Releases Two New Eyewear Styles: Oakley Four and OVERTHETOP.

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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Nov. 20, 2000

Oakley Inc. (NYSE:OO) Monday announced the release of two new eyewear styles, Oakley Four(TM) and OVERTHETOP(TM).

These latest sunglass models span a timeline of past-to-future aesthetics with state-of-the-art performance.

The Four(TM) sunglass takes design cues from retro-inspired styling. Four-base lens curvature reduces side rake to position the lenses in a defined plane in front of the eyes. Frame geometry compresses vertical dimensions for a lateral spread with distinctive angles. Augmented with true metal icons, the O Matter(R) frame features a sculptural hinge design.

OVERTHETOP(TM), the new eyewear technology which debuted on top athletes at the 2000 Olympic Games in Sydney, Australia, features a hingeless frame that wraps the upper cranium and anchors beneath the posterior occipital protuberance of the skull.

Oakley used a scanning 3-D laser and stereolithography to create the unparalleled architecture of OVERTHETOP(TM). The brand's proprietary 3-point fit was advanced to a multi-point system that uses cranial cartography to achieve a secure, comfortable mount.

Technologies from the company's A Frame(TM) ski goggle and its triple face foam were utilized to create a fully customizable matrix of Unobtainium(R) cushion points. This allows for a user-defined coordinate system that tailors the fit for the widest possible range of cranial dimensions.

OVERTHETOP(TM) achieves optimum clarity with XYZ Optics(R), a patented technology that virtually eradicates distortion from the entire field of view, including the periphery. Two optional hues of Iridium(R) lens coatings allow the wearer to tune transmission for any light condition while enhancing contrast and minimizing glare.

Both Four(TM) and OVERTHETOP(TM) use pure Plutonite(R) lens material, a proprietary innovation which blocks 100% of all UVA, UVB, UVC and harmful blue light.

Oakley Four(TM) will be released in frame/lens combinations of Black/Grey and Rootbeer/Bronze with a Micro Clear bag included for storage and cleaning. The eyewear has a suggested retail price of US $70.

Only premier Oakley retailers will be included in the initial release of OVERTHETOP(TM). The sunglass has a suggested retail price of US $175 and is available with Fire Iridium(R) or Black Iridium(R) lenses. The frame comes with an Unobtainium(R) matrix kit for customizable mounting and a Micro Clear bag for storage and cleaning.

Product shots of both eyewear releases are available online at www.oakley.com.

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 Sept. 30, 2000 totaled $336.4 million and generated net income of $47.1 million -- a 14.0 percent net margin, excluding a one-time, after-tax restructuring charge of $8.2 million recorded during the fourth quarter of 1999.

Oakley 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 ability of those manufacturing partners to increase production volumes in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers, the dependence on eyewear sales to Sunglass Hut; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; 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 and Quarterly Report on Form 10-Q for the three-month periods ended March 31, 2000 and June 30, 2000. The company undertakes no obligation to update this forward-looking information.

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