SANTA FE SPRINGS, Calif.–(BUSINESS WIRE)–May 23, 2001–Vans, Inc. (NASDAQ: VANS) today announced the commencement of a public offering of 2,800,000 shares of the Company’s common stock at $23.15 per share, which represents an increase of 300,000 shares above the initial filing.

All of the shares are being offered by the Company. The Company has granted the underwriters an option to purchase up to 420,000 shares to cover over-allotments. The common stock is being offered under Vans’ registration statement that was declared effective today by the Securities and Exchange Commission. The offering is expected to close on May 30, 2001.

Merrill Lynch & Co. and Banc of America Securities LLC served as joint lead managers of the offering with Merrill Lynch acting as the sole book runner. Tucker Anthony Sutro Capital Markets and Ferris, Baker Watts, Incorporated served as co-managers of the offering. Copies of the prospectus relating to the offering may be obtained from Merrill Lynch & Co., 4 World Financial Center, Prospectus Department, Street Level, New York, NY 10080. The common stock is offered only by means of the prospectus, and this announcement is neither an offer to sell nor a solicitation of an offer to buy such common stock.

Vans, Inc. is a branded lifestyle company focused on the youth market. Vans reaches its 10 to 24 year-old target consumers through the sponsorship of Core Sports,(TM) such as skateboarding, snowboarding, surfing and wakeboarding, and through major entertainment events and venues, such as the VANS Triple Crown(TM) Series, the VANS Warped Tour,(TM) the VANS World Amateur Skateboarding Championships, seven VANS large-scale skate parks, and the VANS High Cascade Snowboard Camp,(TM) located on Mt. Hood. The Company operates 140 retail stores in the U.S. and Europe, and designs, markets and distributes active-casual footwear, clothing and accessories, performance footwear for Core Sports, (TM) snowboard boots, step-in snowboard boot bindings, and outerwear worldwide.