Oakley Unveils New Eyewear Invention At Olympic Games in Sydney.

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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Sept. 27, 2000

Oakley Inc. (NYSE:OO) Wednesday announced the release of OVERTHETOP(TM) sunglasses.

Reinventing the concept of eyewear, the company has created a hingeless frame that wraps the upper cranium and anchors beneath the posterior occipital protuberance of the human skull. Top athletes at the 2000 Olympic Games in Sydney, Australia, are currently wearing the unrivaled design.

"Professional athletes are demanding the highest sophistication in technology and art," said Oakley President Colin Baden. "We've earned a reputation for continually expanding the limits of innovation. This is an example of breakaway design that defines the brand -- an original invention that shakes up the status quo on a Richter scale."

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.

"Only mad science would reverse engineer the human skull," said Baden. "Our invention clutches the braincase, even during the most reckless excuse for athletic competition."

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.

A lightweight instrument of abuse, the frame achieves dimensional stability with an amorphous material capable of withstanding 350 degrees Fahrenheit. An advanced formulation of O Matter(R), the performance synthetic is contoured via a modified two-slide mold with a lifting core.

The dual spherical configuration features flush-mounted lens orbitals, a unique aesthetic that requires the exacting precision of production technologies first invented for the company's Eye Jacket(R) 2.0 frame.

Patented XYZ Optics(R) provides optimum clarity by virtually eradicating distortion from the entire field of view, including the periphery. This is achieved with geometrical orientation that maintains optical correction on three axes, not just two, resulting in maximized clarity at all angles of view.

Plutonite(R) lens material blocks 100% of all UVA, UVB, UVC and harmful blue light. Four optional hues of Iridium(R) lens coatings allow the wearer to tune transmission for any light condition while enhancing contrast and minimizing glare.

Available in November 2000, the OVERTHETOP(TM) sunglass has a suggested retail price of $175 and is available with Fire Iridium(R) and Black Iridium(R) lenses. The frame comes with an Unobtainium(R) matrix kit for customizable mounting and a Micro Clear bag, formulated for optimal lens cleaning properties.

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 offers also 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 June 30, 2000 totaled $300.2 million and generated net income of $40.0 million -- a 13-percent net margin, excluding a one-time after-tax 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 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 Dec. 31, 1999 and Quarterly Reports on Form 10-Q for the three-month periods ending March 31, 2000 and June 30, 2000. The company undertakes no obligation to update this forward-looking information.

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