Monday, Aug. 2, 2004 — Fox Sports Net (FSN) and FUEL are combining with Quiksilver Entertainment to produce FUEL’S 54321 WEEKLY UPDATE, a new, fast-paced half-hour weekly spin-off of FSN’s original 54321 that highlights the most important events and news from the world of action sports. The announcement was made today by Bob Thompson, President, Fox Sports Networks and David Sternberg, Executive Vice President, Emerging Networks, Fox Cable Networks, who also serves as FUEL’s General Manager. FUEL’S 54321 WEEKLY UPDATE is set to premiere on Saturday, Sept. 18 on FSN, with FUEL providing additional opportunities to see each week’s show throughout the weekend.

FUEL’S 54321 WEEKLY UPDATE is a highlight-driven action sports news program, which will spend much of its time reviewing the week in action sports and previewing upcoming events and demonstrations. Quiksilver Entertainment is partnering with FUEL and FSN in the development of the series, and will be credited as co-executive producer. The show also reports on relevant athlete endorsement deals, new product releases and cultural events, like film premieres and art festivals, from around the globe. In winter months, the show is also planning to provide skiers and snowboarders with predictions on where to find the best powder, while in the summer, surfers can learn where to find the best waves.

“So much about television programming is trial and error, especially when you’re attempting something bold and totally new, said C.J. Olivares, Vice President, Programming & Marketing, FUEL, and the new show’s Co-Executive Producer. “54321 as a daily weekday show was a noble experiment, but I’m supremely confident that a weekly half-hour news show, anchored by the most newsworthy material, will make FUEL’S 54321 WEEKLY UPDATE a destination for action sports fans and participants alike.

Under Olivares’ supervision, FUEL’S 54321 WEEKLY UPDATE is being produced in-house by FUEL. John Stouffer serves as Managing Editor and Scotty Bradfield is the Senior Producer, and both have a wealth of action sports experience from which to draw. Stouffer spent from 1995 to present with TransWorld Snowboarding Business magazine, covering every aspect of the industry, while Bradfield has produced action sports programming for numerous television outlets, including FSN, NBC, Fusion TV and Internet sites such as Extreme.com. FSN expects to announce a host for FUEL’S 54321 WEEKLY UPDATE shortly.

Quiksilver Entertainment ‘s Danny Kwock and Matt Jacobson will work closely with FUEL to bring the benefit of Quiksilver’s market leading position while providing ongoing creative consultation. FUEL’S 54321 Weekly UPDATE fits perfectly with Quiksilver Entertainment’s mission to act as a catalyst for industry-wide initiatives. The show will have complete news coverage of action sports, including surfing, snowboarding, skateboarding, BMX, freestyle Moto-X, and wakeboarding.

Action sports is a $10 billion a year business, and participation and interest in action sports is at an all-time high. Snowboarding has seen a 240% increase in participation in the last 10 years, and was added as an Olympic sport in 2002. Participation in wakeboarding surged 32% in 2000, making it the third fastest-growing sport in the action genre behind only skateboarding and snowboarding. In 2000, 11.7 million Americans skateboarded, a number expected to reach 15 million by 2005, and pro skateboarder Tony Hawk has become a cultural icon. FUEL’S 54321 WEEKLY UPDATE will capture all the news and excitement in this ever-expanding world.

The original 54321, which aired Monday to Friday on FSN from January to December 2003, was television’s first topical daily program covering action sports and had a more feature-oriented format than that which is planned for FUEL’S 54321 WEEKLY UPDATE. FUEL’S 54321 WEEKLY UPDATE culls the most significant information weekly into one lightning-quick half hour.

Quiksilver Enterrtainment, a division of Quiksilver (nyse:ZQK) www.quiksilver.com, is the leading entertainment and brand marketer in the action sports industry, leveraging Quiksilver’s position as the definitive boardriding lifestyle brand to create entertainment marketing properties that span the areas of film, television, publishing, sponsorships and cross-promotion. Innovative platforms that provide alternatives to traditional print and broadcast advertising are utilized to expand the action sports industry, while remaining true to Quiksilver’s brand essence. Quiksilver Entertainment creates original branded content, in addition to forming corporate partnerships with leaders in the arenas of consumer electronics, telecommunications, automotive, packaged goods and more. Founded in 2002, Quiksilver Entertainment is located in Huntington Beach, CA.

Fox Sports Net reaches more than 80 million homes through its network of 20 regional sports channels. FSN, based in Los Angeles, serves as the cable TV home to 65 of the 80 MLB, NHL and NBA teams based in the United States, and produces over 4,700 live events each year. In addition to home team games, FSN telecasts a wide variety of national sports events and programming, including BEST DAMN SPORTS SHOW PERIOD, I,MAX, BEYOND THE GLORY, THE SPORTS LIST and FSN ACROSS AMERICA. For the latest up-to-the-minute sports news and opinions, visit the FOX Sports/Fox Sports Net website at www.msn.FOXSports.com.

FUEL is the first 24-hour US cable and satellite network dedicated to the world of action sports. As a driving force in youth culture, action sports have captured the imagination, energy and excitement of a generation. FUEL covers both competitive and free-riding action in the arenas of skateboarding, surfing, BMX, freestyle motocross, snowboarding and wakeboarding. Programming includes top-level international sports events and competitions, featuring elite extreme sports athletes. Original and co-produced series are complemented by unique and compelling interstitials, featuring the best slams, the top tricks, and the voices of the action sports industry. Launched on July 1, 2003, FUEL is a division of Fox Cable Networks.