PR: Ride Sports Announces Sale of SMP Clothing Subsidiary
11/10/98

PRESTON, Wash., Nov. 10 -- Ride Sports (Nasdaq: RIDE), a leading manufacturer and marketer of snowboard equipment and accessories, wakeboards and related products, announced today that it has sold the operating assets and inventory of its Chula Vista, California-based, subsidiary SMP Clothing, Inc. to SMP's Australian licensee for an undisclosed sum.

"We are very pleased to have completed this transaction," stated Robert F. Marcovitch, Ride's President and CEO. "With it behind us," continued Marcovitch, "Ride is now free to concentrate its resources and energies on its growing snowboard- and wakeboard-related product lines. This sale represents another considerable step in the company's ongoing effort to reduce costs and focus on improving our core products in order to better serve our loyal and expanding customer base."

The benefits of the sale do not stop at Ride's doorstep. "Our Australian friends have done great things with the brand in their country in a very short period of time," noted Marcovitch. "They have the marketing and manufacturing savvy to be a successful player in the global apparel business. We wish them every success."

Established in 1992, Ride is headquartered at the foothills of the Cascade Mountains, in Preston, Washington. Ride is a leading manufacturer of contemporary sports equipment, including snowboard equipment, wakeboards, and apparel under the brand names: Ride, Liquid, 5150, Smiley Hats and FullTilt.

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