AUSTRIA — November 19, 2002 — Johan Eliasch, chairman and CEO of Head NV has announced a reorganization of corporate operations for the company. The company’s global Winter Sports activities will be consolidated under the management of Klaus Hotter, Executive Vice President of Winter Sports, to take advantage of synergies of the HEAD and Tyrolia product lines.

Edgar Poellman has been appointed Managing Director of Operations and Gerald Skrobanek has been named Vice President of Operations to focus on improvements in management of the operations and supply chain for all products. All three will be located at the company’s headquarters in Kennelbach, Austria.

In the United States, the Racquet Sports, Winter and Diving Divisions will now report to Dave Haggerty in an effort to better coordinate and maximize cost efficiencies in HEAD’s largest market. Haggerty, former president of the US Racquet Sports Division, has been appointed Chief Executive Officer (CEO) and Gunter Hagspiel, former CFO, becomes Chief Operating Officer (COO) of HEAD USA.

Along with the Racquet Sports division, both the US Winter Sports business which is headquartered in Byfield, MA and headed by Bob Soden and the US Mares/Dacor Diving  division headquartered in Norwalk, CT and lead by Carlo Bertozzi, will report to Haggerty.

As a result of this reorganization, HEAD’s current CEO of Winter Sports, Bob Soden, will be leaving the company after significantly increasing sales and substantially strengthening the HEAD and Tyrolia brands in the US. The company recognizes the progress made under Soden’s three years with HEAD and has requested that he remain in place until early summer 2003. New management will be structured upon Soden’s departure late next year to ensure continuation of the positive progress in the Winter Division.

HEAD USA is the US Company of HEAD NV. HEAD NV owns and markets products under the HEAD (skis, snowboards, tennis, squash, racquetball and accessories), Penn (tennis and racquetball balls), Tyrolia (ski bindings), Mares (diving), Dacor (diving), and Sporasub (diving) brands.