Industry News 11/29/2006

K2 Sports Names Lars Hanstad Managing Director of Madshus AS

K2 Sports Names Lars Hanstad Managing Director of Madshus AS

SEATTLE (November 29, 2006) – K2 Sports today announced the promotion of Lars Hanstad to Managing Director of Madshus AS. In this role Hanstad has global operating responsibility for the Madshus Nordic skiing brand. In addition, he will oversee operations for the recently formed K2 Sports Norway, the Norwegian distributor of the K2 Sports portfolio of brands.

Madshus is a world leader in Nordic ski design and manufacturing, and recently launched a successful boot program adopted by the world’s top cross country skiers. The brand’s operations are based in Biri, Norway. Hanstad has been with the company for 30 years. He knows the company from the inside out and has previously served as production manager, racing manager and director of sales and marketing.

“We’re very excited to see Lars officially assume the role of managing director,” said Robert Marcovitch, president of K2 Sports. “With our recent entry into the cross country ski boot business and our planned brand extensions, we believe that the Madshus brand is especially well positioned for long-term growth opportunities with Lars in his new position.”

Madshus – the world’s oldest ski factory – is celebrating its 100 year anniversary in 2006. Madshus has won 500 international championship medals and was Ski brand of the year for Cross Country both 2005 and 2006 by winning 3 of the 5 Overall World Cup titles. With skiers like Ole Einar Bjørndalen, Kati Wilhelm, Axel Teichmann, Frode Estil, Katerina Neumannova and Hannu Manninen, the company equips some of the best skiers in the world. Madshus is the second largest ski brand of cross country world wide. For more info on Madshus, visit www.Madshus.com.

About K2 Sports:

K2 Sports, based in Seattle, is a leading designer, manufacturer and marketer of an international portfolio of 16 world renowned brands and over 40 consumer product categories. Driven by innovation and a passion for sports enthusiasts looking for unique and authentic lifestyle experiences, the company markets snowboard, snowshoe, bike, in-line skate, alpine, telemark and Nordic ski equipment, apparel and accessories. K2 Sports is what happens when fun meets science and technology.  For more information on K2 Sports and its brands and products, visit www.K2sports.com.