K2 Elects Heckmann as Non-Executive Chairman

LOS ANGELES–May 1, 2000–K2 Inc. (NYSE:KTO) today announced that Richard Heckmann has been elected non-executive chairman of the board of directors.

Heckmann, a member of the board since 1997, succeeds B.I. Forester, who has retired from the board after 34 years of service. K2 also announced that Robin “Bob” Hernreich, a minority owner of the Sacramento Kings basketball team, has been elected to the board to fill the vacancy.

Richard M. Rodstein, president and chief executive officer, said: “I am extremely pleased to have Dick Heckmann as our chairman. Dick brings a breadth of experience with him and has a proven track record in growing companies through internal growth and by acquisitions. Our company will benefit greatly from his counsel and insights.”

Rodstein continued: “Bob Hernreich is an excellent addition to the board. He has had broad experience in the recreation business, and we look forward to working with him. We will miss Bif Forester’s wise counsel as we thank him for his years of service to the shareholders of this company.”

Heckmann, 56, also serves as chairman of Vivendi Water, the worldwide water products group of Vivendi S.A., a worldwide utility and communications company with headquarters in France. Heckmann was previously chairman, president and chief executive officer of United States Filter Corp., a worldwide provider of water and wastewater treatment systems and services from 1990 through the sale of the company to Vivendi in 1999.

Heckmann was a director and an owner of Smith Goggles and is a member of the board of directors of United Rentals Inc., a national equipment rental organization, and Station Casinos, a gaming and entertainment enterprise.

Hernreich, 55, is an owner of the Sacramento Kings of the National Basketball Association. He is also president of Remonov Capital Inc. and vice president of Remonov & Company Inc. He is a member of the board of directors of the Colorado State Parks and Outdoor Recreation, where he serves as its chairman, The Eagle Valley Land trust, the Snowboard Outreach society and The Youth Foundation of Vail. Hernreich is also a former member of the board of directors of Ride Inc.

K2 Inc. is a leading designer, manufacturer and marketer of brand- name sporting goods, recreational and industrial products. The company’s sporting goods and recreational products include well-known names such as K2 and Olin alpine skis, K2, Ride and Morrow snowboards, boots and bindings, K2 in-line skates, Stearns sports equipment, Shakespeare fishing tackle, K2 bikes and Dana Design backpacks.

K2’s other recreational products include Planet Earth apparel, Adio skateboard shoes and Hilton corporate casuals. K2’s industrial products include Shakespeare extruded monofilaments, marine antennas and fiberglass light poles.