K2 Licensing and Promotions Launches New Division

CARLSBAD, California, September 21, 2004 — K2 Licensing & Promotions(K2LP), a wholly-owned subsidiary of K2 Inc. (NYSE: KTO), has launched anew business division that will develop licensing and corporate partnershipsfor K2’s portfolio of more than 30 leading sports brands, including K2,Rawlings, Volkl, Marmot and Shakespeare.

K2LP, which has just completed its first corporate-wide licensing deal withMarvel Enterprises, also announced today the appointment of two sportsindustry veterans, Robert Strand and Frann Vettor-Gray, to support this newventure.

Scott Dickey, president of K2LP, stated: “Our efforts are off to the right startwith the addition of top-tier talent to our team and a new licensingagreement that provides three separate K2 divisions with rights to createnew products featuring many of Marvel’s outstanding character brands.These developments represent an important milestone and demonstrate thatwe are open for business and focused on leveraging the collective strength ofour category-leading sporting goods brands.

“We intend to tap new sources of revenue and underdeveloped assets for K2by unlocking latent brand value through strategic licensing relationships inseveral new product categories,” added Dickey. “In addition, we intend toleverage our broad reach to multiple consumer targets through the creationof unique corporate alliances and partnerships that deliver a connection tothe millions of consumers who purchase K2 products every year.”

In conjunction with its launch, the company hired Robert Strand as vicepresident of licensing and Frann Vettor-Gray as vice president of corporatealliances. Mr. Strand is a five-year veteran of the National BasketballAssociation, where he was most recently senior director of non-apparellicensing and global premiums. Prior to his league experience, Mr. Stranddeveloped his retail skills as a buyer for Motown Café, Ross Stores and FAOSchwarz.

Ms. Vettor-Gray brings extensive experience in sports and entertainmentmarketing to K2. She worked for both Universal Studios and The Coca-ColaCompany prior to joining K2LP. Before that, she played an integral role indeveloping and implementing the retail licensing and marketing program behindthe 1996 Atlanta Olympic Games and also held management positions withMajor League Baseball and the National Basketball Association.

“The addition of Robert and Frann, two accomplished and well-known industrypros, provides us with the strong expertise and vision that will be critical tothe continued success and growth of our business. We are thrilled that theyhave chosen to join us and look forward to their valuable contributions,”stated Dickey.

Through the multi-year agreement with Marvel, K2’s Stearns (watersports),Shakespeare (fishing) and Fotoball (licensed sporting goods) divisions haveobtained the North American rights to develop an assortment of sports balls,floatation devices and children’s fishing sets featuring several premier Marvelfranchises. These include Spider-Man, Fantastic Four, X-Men, CaptainAmerica, Iron Man, the Incredible Hulk, Namor, Ghost Rider, and DaredevilClassic as well as Marvel’s pre-school line, Spider-Man and Friends.

K2LP was formed earlier this year when K2 acquired Fotoball USA, a leadingmanufacturer of licensed sporting goods and souvenirs. At the time of theacquisition, K2 renamed the business K2 Licensing & Promotions to reflectexpanded responsibilities that include formulating and executing licensing andpromotional strategies in support of all K2’s major brands and product lines. Inresponse to that directive, K2LP has formulated a series of initiatives that willbecome important elements of K2’s corporate foundation. Those initiativesinclude licensing out the family of K2 brands across a variety of newcategories, securing entertainment and sports property licensing agreementsfor the K2 product lines to extend branded offerings, and leveraging K2’scollective assets to develop marketing partnerships wiith corporationsinvesting in the world of sports.

About K2 Inc.

K2 Inc. (NYSE: KTO) is a premier, branded consumer products company witha portfolio of leading brands including Rawlings(R), Worth(R), Shakespeare(R),Pflueger(R), Brass Eagle(R), Stearns(R), K2(R), Volkl(R), Ride(R), Marmot(R)and Marker(R). K2’s diversified mix of products is used primarily in team andindividual sports activities such as baseball, softball, fishing, paintball,watersports activities, alpine skiing, snowboarding, in-line skating andmountain biking. Among K2’s other branded products are Planet Earth(R)apparel, Adio(R) and Hawk(R) skateboard shoes, Tubbs(R) and Atlas(R)snowshoes, JT(R) and Worr Games(R) paintball products and Dana Design(R)backpacks.

Rawlings(R), Worth(R), Shakespeare(R), Pflueger(R), Brass Eagle(R), Stearns(R), K2(R), Volkl(R), Ride(R), Marmot(R), Marker(R), Planet Earth(R), Adio(R),Hawk(R) skateboard shoes, Tubbs(R), Atlas(R), JT(R), Worr Games(R), andDana Designs(R), are trademarks or registered trademarks of K2 Inc. or itssubsidiaries in the United States or other countries.

About Marvel Enterprises, Inc.

Marvel Enterprises, Inc. (NYSE: MVL) is a leading global character-basedentertainment company that has developed and owns a library of more than4,700 characters, which have entertained generations around the world forover 60 years. Marvel’s operations are focused in entertainment andconsumer product licensing and comic book publishing. Marvel Studiossupports the development of feature films, DVD/video products and TVseries. Marvel’s creative team also supports the creation of video games andtoy lines based on its characters as well as for a broad and growing range ofconsumer products and services including apparel, collectibles, foods andpromotions. Marvel’s comic book division is a leading publisher in the globalmarketplace while also serving as an invaluable source of intellectualproperty. Marvel’s Toy Biz division is a recognized creative force and leaderin toy design, sales and marketing, developing and overseeing both licenseeand in-house toy lines. For additional information visithttp://www.marvel.com.