Ride, INC. Responds To Disparagements Spread By Switch

PRESTON, WASHINGTON-- May 3, 1996 -- RIDE, INC. (Nasdaq RIDE) responded today to disparaging remarks that Switch Manufacturing has made in the press regarding a patent suit that Preston Binding Company, a Ride subsidiary, has brought against Switch. Preston, together with Mark A. Raines and Gregory A. Deeney, has sued Switch for patent infringement. "The complaint filed in the lawsuit alleges that Switch's Autolock step-in binding system infringes a patent held by Raines and Deeney for the step-in binding system that they developed. Preston Binding Company is also a plaintiff in the suit because Preston has signed an agreement with Raines and Deeney to acquire the patent.

"It is wholly inappropriate for Switch to attempt to try this case in the press," said Scott Benner, Ride's General Counsel. "Switch's smear tactics in the press, however, could not go unanswered. We are confident that Switch's unfair and unfounded accusations about the purported improper motives of Preston and the inventors in bringing the lawsuit will be considered and rejected by the courts."

"Switch is attempting to paint this suit as David vs. Goliath," said Tim Pogue, Ride's President." Truth be told the real Davids here are Mark Raines and Greg Deeney, two investors whose patent Switch infringes. Switch contacted Mark and Greg years ago to suggest a possible deal. In response, Mark and Greg sent Switch a copy of the patent and an early embodiment of their invention. Then Switch broke off discussions. Only after Switch brought their binding to market, and Mark and Greg began considering ways to enforce their patent, did Switch again contact them hoping to acquire the patent. By that time, Ride had already structured a deal with Mark and Greg which would pay them handsomely if a bindings based on the patent is successful."

"We think the Raines-Deeney patent is the seminal patent for step-in snowboarding bindings," said Pogue. "We are working on a step-in binding based on the patent and believe it will be ready for release to the public next year. Together with Mark and Greg, we brought the lawsuit in order to protect the patent and our design."