Malibu, CA, June 23, 1997 -- LXD, Inc . Chairman, Austin Hearst, and co - chaiman/company president, Paul Taublieb, announced today they have reached an agreement with ISF North America to exclusively host a $150,000 ISF sanctioned Masters World Cup immediately following the Nagano Olympics. "We are thrilled to create a world-class event on a world-class level in this Olympic breakthrough year for snowboarding," commented Mr. Hearst.

To be held at Squaw Valley, CA, over four days between Feb. 14 and 24 (exact days to be determined per rideris schedules) this event will bring together the first snowboarders to win Olympic medals with the rest of the snowboarding world (both FIS and ISF riders) with competition for the inaugural Rider's World Cup Snowboard Championships. "The Rider's Cup will settle bragging rights as to who is really the best in the world," explained LXD president, Taublieb. "While we are sanctioned by the ISF, we will insure we deliver all the best riders, including Olympic Medalists, to this unique world championship event."

Following the Olympic format, disciplines will include Dual Slalom, Giant Slalom and Half Pipe, with one additional event possible. The event director for this first-ever Rideris World Cup Championship will be Jeff Grell, acknowledged as a pioneer and leader in the world of snowboard event production.

Commitments for network television coverage of the event and title sponsorship for the Riders World Cup Championships have been finalized and will be announced shortly.

In addition to the Rideris World Cup Championship, LXD, Inc. will be hosting three professional events as part of its joint venture with ESPN for the ESPN FreeRide Snowboard Tour that will feature six original hours of programming on ESPN1; in addition, LXD and ESPN will be providing national sponsorship to the United States Amateur Snowboarding Association (USASA) and a one-hour, espn2 television broadcast of their national championships.

For further information contact:

Penny Davidson,
LXD, Inc. VP, Public Relations & Marketing
(310) 589-0022