Santa Cruz Snowboards Signs New Worldwide Licensee

May 1, 2002 Santa Cruz, CA- NHS, Inc., worldwide owner of the Santa Cruz Snowboards trademark, is pleased to welcome Boards and More as the new licensee of Santa Cruz Snowboards worldwide. Despite industry rumours, Santa Cruz Snowboards is healthier than ever.

“As far as rumors of the bankruptcy of Santa Cruz Snowboards or NHS pulling out of the snowboard business, nothing could be further from the truth,” explains Robert A. Denike, President of NHS, Inc. “NHS is experiencing strong growth over all and unlike most of our snowboard competitors, we are seasonally diversified and as profitable as ever. Snowboard deliveries, customer service and marketing will go on uninterrupted into the 2002/2003 season.”

With worldwide headquarters in Austria, Boards and More is part of Jacobs AG, Switzerland. Boards and More enjoys a leading position within the action sports market. The GST factory, also part of Jacobs AG, has manufactured Santa Cruz Snowboards for the past three seasons and will continue to do so under the new partnership.

“This new partnership comes at a great time for Santa Cruz Snowboards,” said Brett Sigur, Santa Cruz Snowboards Director of Marketing. “Santa Cruz recently united the skate, surf, and snow brands under one new logo, The Knot, and the Committed ad campaign. This gives Santa Cruz the opportunity internationally to convey a cohesive brand message. Now we can create and drive demand consistently from the skate, snow and surf markets collectively. Together NHS and Boards and More will be working closely to execute this global plan.”

To ensure the success of Santa Cruz as a brand independent of other Boards and More brands, key personnel from DNR Sportsystem Ltd, the former Santa Cruz Snowboards worldwide licensee, will remain. These people are responsible for the rich history and future success of Santa Cruz in Europe and Japan. The Santa Cruz brand headquarters will remain in Switzerland. Based on the wealth of experience between Board’s and More and NHS, this new relationship will catapult Santa Cruz Snowboards into a leading position in snowboarding.

NHS, Inc. is one of the largest Action Sports companies in the world, well known for high quality and innovative products matched with cutting edge marketing and brand image. Founded in 1973 and based in Santa Cruz, Ca, NHS, Inc. is a leading manufacturer of skateboards, snowboards, surfboards, and related products. NHS Inc.’s brands and trademarks include Santa Cruz Skateboards, Snowboards and Surfboards, Independent Truck Company, Ricta Wheel Dynamics, Krux Trucks, TSG Safety Gear, Bullet Skateboard Products, Bootleg Skateboards, Road Rider Wheels, Nor Cal and Skateboarding Is Not A Crime.

Contact: Holly Anderson (831) 459-7800, holly@nhs-inc.com