PR: Ride Sports Announces Opening of New Credit Facility
(9-2-98)

PRESTON, Wash., Sept. 2 -- Ride Sports (Nasdaq: RIDE), a leading manufacturer and marketer of snowboard equipment and accessories, wakeboards and related products, announced today that it has secured a new $17 million credit facility with CIT Group/Credit Finance, Inc. and retained a $3 million credit facility with US Bank NA. The CIT facility has a term of three years and is collateralized with the assets of Ride and its subsidiaries. Ride and CIT have agreed to review the facility after '99-'00 preseason orders are in with a view to increasing the line if conditions support doing so. The US Bank facility is subordinated to the CIT credit line, has a term of one year and is secured with certain business assets and guarantees.

"We are very pleased to have CIT as our new financial partner," stated Robert Marcovitch, Ride's President and Chief Executive Officer. "CIT understands our business and is committed to help us grow to meet the needs of our customers." "With financing now in place," continued Scott Mavis, Ride's Vice President of Marketing, "we can turn full attention to our passion: developing, manufacturing and selling the best snowboard and wakeboard products on the market today."

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, SMP and FullTilt.

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