Oakley Contributions To Livestrong™ Exceed $1 Million

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Oakley, Inc. today announced that contributions made through the sale of the company's special-edition LIVESTRONG™ eyewear (http://oakley.com/livestrong) have now exceeded $1 million dollars.

Oakley, Inc. today announced that contributions made through the sale of the company's special-edition LIVESTRONG™ eyewear (http://oakley.com/livestrong) have now exceeded $1 million dollars. Twenty dollars from the sale of each LIVESTRONG™ sunglass go to the Lance Armstrong Foundation and its ongoing mission to inspire and empower people affected by cancer. It took just eight months for the program to reach the $1 million mark.

"This is a huge milestone, and I could not be more grateful to Oakley for its ongoing support of the foundation," said Lance Armstrong. "They've always been there for me, on and off the bike, and with the help of the company and those who appreciate its unbeatable eyewear technologies, we are making a difference for those whose lives are affected by cancer," Armstrong concluded.

"Lance has been part of the Oakley family for decades, and we are honored to assist his efforts in bringing hope to those whose lives are challenged by cancer," said Colin Baden, president of Oakley. "Hitting the $1 million mark in just eight months is a testament to the inspiration of Lance's biking career and foundation work, and we are proud to be part of such a noble endeavor," Baden concluded.

Oakley will soon be releasing its latest addition to the LIVESTRONG™ series of premium sunglass designs, a new version of the company's time-honored M Frame®. A favorite of Lance Armstrong for many years, this eyewear has seen more championships and medals than any other single sport product on Earth. The special edition is designed with the colors of the Lance Armstrong Foundation logo and "LIVESTRONG" is laser etched at the bottom corner of its pure Plutonite® lens.

For the first two releases in its coveted series of LIVESTRONG™ frames, Oakley chose two of its most technically advanced performance sunglasses: the single-lens sport shield known as Radar® (http://oakley.com/pd/4853) and the dual-lens eyewear called Flak Jacket® (http://oakley.com/pd/4852). As with the new special-edition M Frame®, component colors salute the foundation log and "LIVESTRONG" is laser etched on the lens. Included in the custom packaging is a specially tagged Microclear™ bag for lens cleaning and eyewear storage.

The third release in the special-edition series was Straight Jacket® (http://oakley.com/pd/5599/18698), a performance design that shares several premium features with Radar® and Flak Jacket®. This includes Oakley's High Definition Optics® (HDO®), 100% UV filtering, Unobtainium® components that increase grip with sweat, and a permanent Hydrophobic™ lens coating that maintains a smudge-resistant barrier against skin oils, sunscreens and lotions while repelling dust and preventing water from leaving sheens that can corrupt vision.

Located in Austin, Texas, the Lance Armstrong Foundation empowers and inspires those who are living with cancer. The foundation is resolved in its belief that in the battle with cancer, unity is strength, knowledge is power and attitude is everything.
Forced off his bike in 1996 by excruciating pain, Armstrong was diagnosed with testicular cancer that eventually spread to his lungs and brain. He underwent surgery and chemotherapy that eroded his muscles and gave him permanent kidney damage. Refusing to quit and ignoring the slim odds of survival given by doctors, Armstrong gradually rebuilt his body and went on to win the Tour de France seven years in a row.

Visit http://www.LIVESTRONG.org for more information on the Lance Armstrong Foundation. Go to http://www.oakley.com to learn about Oakley's LIVESTRONG™ special-edition eyewear products.

About Oakley, Inc.
Oakley is a worldwide leader in performance optics including premium sunglasses, goggles and prescription eyewear. Headquartered in Southern California, the company's optics brand portfolio includes Dragon, Fox Racing, Mosley Tribes, Oliver Peoples and Paul Smith Spectacles. In addition to its worldwide wholesale business, the company operates retail locations including Oakley Stores, The Optical Shop of Aspen and Sunglass Icon, the second largest sunglass specialty chain in the United States. The company also offers a wide selection of Oakley-branded apparel, footwear, watches and accessories. Additional information is available at http://www.oakley.com.

Safe Harbor Disclaimer
This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "forward-looking statements" and "safe harbor" provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators and are typically identified by the use of terms such as "look," "may," "should," "might," "believe," "plan," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements may be expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including but not limited to: risks related to the sale of new sunglass and electronics product intro¬ductions; execution of anticipated restructuring and realignment of product categories; the company's ability to integrate and operate acquisitions; the company's ability to manage rapid growth; new and existing channel inventory management risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on optics sales to Luxottica Group S.p.A, which, as a major competitor, could materially alter or terminate its relationship with the company; the company's ability to expand and grow its distribution channels and its own retail operations; the ability of the company to integrate licensing arrangements without adversely affecting operations and the success of such initiatives.

Additional factors are detailed in our filings with the Securities and Exchange Commission, including the Risk Factors contained in the company's Form 10-K for the year ended December 31, 2005 and as updated in the company's quarterly filings on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company is under no obligation, and expressly disclaims any obligation, to update or alter this forward-looking information.

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Diane Thibert
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