Premier Snowskates Signs Licensing Agreement With Gen-X Sports

November 1, 2001 – Portland, Oregon – Premier, the original and authentic manufacturer of quality snowskates(tm), has announced today that it has signed a three-year global licensing agreement with Gen-X Sports Inc. The agreement allows Gen-X Sports Inc. to design, distribute, and manufacture snowskates within select distribution channels under the Lamar® and Limited® brand names. The agreement protects Premier’s patentable snowskate technology and allows Premier to approve all Gen-X Sports Inc. snowskate products to assure they meet Premier’s high quality standards.

A snowskate is slightly wider and longer than a skateboard, is made of plastic with a channeled base for stability and tracking and a foam top sheet for grip. Snowskates combine the design, physics and feeling of skateboarding and snowboarding and are for use on snow-covered sled hills and golf courses, snowskate parks, or even right in the backyard.

“This is a monumental move for Premier,” says Andy Wolf, inventor of the snowskate and founder of Premier. “This makes a huge statement about the strength of the technology and the validity of our patents. We are thrilled that Gen-X Sports Inc. has agreed to sign a licensing deal with Premier. We chose to sign the deal with them because we recognize that they are a leader in their market and distribution channels and are committed to a long term strategic plan.”

Premier’s agreement with Gen-X Sports Inc. gives Limited and Lamar rights to manufacture snowskates through the 2004/05 season in the general sporting goods distribution channel. Gen-X Sports Inc. will pay a licensing fee for the rights to manufacture snowskates with their own designs, materials, graphics and brand names. The Limited® and Lamar® Snowskate line will feature exclusive shapes and will be directly targeted at the general sporting goods channel through a defined specification set. Limited® and Lamar® Snowskates are available for immediate shipment to meet the huge demand this holiday season.

“Premier is embarking on a licensing campaign because we have the specialty store and core distribution channels wired through our current distribution agreement with the Yoshida Group,” continues Wolf. “We know our product is going to be copied so we have chosen to license our technology so that our licensing partners will be armed with all the snowskate product they’ll need within their distribution channels.”

“We’re excited to be the first company to sign a licensing agreement with Premier as we’ll acquire a vast amount of product expertise right from the start,” says Gen-X Vice President, Director, Board Sports Division, Mark Brasier. “Partnering with Premier lends authenticity to the Lamar® and Limited® Snowskate brands in the distribution channels we will be selling to and also addresses a clear distribution strategy for Premier and Gen-X.”

Premier and its licensees will continue to police patent infringements and seize counterfeiters. A percentage of royalties from all licensing agreements, including Lamar® and Limited®, will be used to promote marketing of the sport of snowskating including, but not limited to, promoting events, snowskate parks and more.

Gen-X Sports Inc., a Toronto-based company with global reach, designs, manufactures, markets and distributes various branded sporting goods products across categories such as golf … Tommy Armour®, Ram®, TearDrop® and Zebra®; snowboards…Limited® and Lamar®; skis…. Volant®; various action sports items… Oxygen*, Rage® and Dukes®; inline skates…Ultra-Wheels®, Street Attack®, Oxygen* and Skate Attack® and, hockey…Hespeler®.

Premier, the original snowskate manufacturer, launched in 1998. Premier Snowskates® are currently available in specialty snow/skate shops worldwide and in select mail-order catalogs.