HUNTINGTON BEACH, CALIFORNIA, JANUARY 30, 2003 – - -Robert McKnight, Chairman and CEO of Quiksilver, Inc. (NYSE:ZQK), announced promotions for several members of senior management. Marty Samuels has been appointed President of Men’s, Steve Tully has been appointed President of Women’s, Greg Ziegler has been appointed Chief Operating Officer and Bill Bussiere has been appointed Chief Financial Officer. All positions pertain to Quiksilver’s domestic businesses. “I have been contemplating these various appointments for quite a while, and I can think of no better time after the tremendous accomplishments in 2002 to make these new appointments,” commented McKnight.

“In reality, the members of this top management team have been serving in these top roles for at least the past year, since the appointment of Bernard Mariette as President of Quiksilver, Inc. Bernard and I are pleased to be able to make these positions official,” he added.

Marty Samuels joined Quiksilver in 1996 as EVP of Sales and National Marketing. In addition to his role as head of sales for the company, Marty has overseen the company’s retail store expansion. Today, Quiksilver operates 28 full price company-owned stores as well as 28 outlet stores. In his new role, Mr. Samuels will continue to oversee national marketing as well as the Company’s retail business.

Mr. Tully rejoined the company in 1996 after working with Quiksilver from 1988 to 1993. Upon his return, he headed up The Raisin Company, a women’s swimwear business acquired by Quiksilver in 1994. Mr. Tully gradually became more involved with the Roxy business and, beginning in December of 2001, acquired full responsibility for the division. Mr. Tully also participates in the management of the Company’s Fidra golf apparel business.

Greg Ziegler joined the company in 1988 and has held several production and operational positions. In 1996 he was appointed as Executive Vice President of Operations. Mr. Ziegler is responsible for the production, manufacturing and delivery of all Quiksilver USA products. In addition, he manages company security and facilities.

Bill Bussiere joined the company in 1998 to manage the newly acquired Seattle-based snowboarding company, Mervin Manufacturing. Shortly thereafter, he was given responsibility for the company’s entire domestic Winter Sports division. In 2000 after Quiksilver acquired the Tony Hawk name from the legendary skater, Mr. Bussiere assumed responsibility for the launch and management of the new Hawk division. In December of 2001, Mr. Bussiere, who previously served in Executive CFO rolls within the apparel industry, was asked to lend his financial expertise to the Quiksilver USA business. During the past year, Mr. Bussiere has shifted most of his other responsibilities and now has full accountability for domestic finance, allowing the Company’s Chief Financial Officer, Steve Brink, to focus on corporate finance and the Company’s global business.

“It’s important to note that this team has essentially led our domestic business since 1996, and they’ve each played an important role in the company’s success. Our shareholders, customers and employees will continue to benefit from their individual as well as cumulative leadership skills and experiences,” added McKnight.

In a related move, Mr. McKnight also announced the appointment of Carol Christopherson to the position of Executive Vice President of Roxy M&D. Mrs. Christopherson joined the company in 2000. Her extensive retail and private label manufacturing experience, acquired from her 17-year stint with the Millers Outpost Stores, have helped guide the Roxy division’s impressive growth in the past four years. Mrs. Christopherson also serves as General Merchandise Manager for the company’s regular price retail stores.

About Quiksilver:

Quiksilver designs, produces and distributes clothing, accessories and related products for young-minded people and develops brands that represent a casual lifestyle — driven from a boardriding heritage. Quiksilver’s authenticity is evident in its innovative products, events and retail environments across the globe.

Quiksilver’s primary focus is apparel for young men and young women under the Quiksilver, Roxy, Raisins, and Radio Fiji labels. Quiksilver also manufactures apparel for boys (Quiksilver Boys and Hawk Clothing), girls (Roxy Girl, Teenie Wahine and Raisins Girls), men (Quiksilveredition and Fidra) and women (Leilani swimwear), as well as snowboards, snowboard boots and bindings under the Lib Technologies, Gnu, Supernatural Manufacturing and Bent Metal labels. Quiksilver’s products are sold throughout the world, primarily in surf shops and specialty stores that provide an authentic retail experience for our customers.