Burton Restructures; Company PR

(March 5, 2003) Burlington, Vermont — With the 2003 season off to a strong start, Burton is implementing organizational changes to cement its strong positioning for the future. As part of this restructuring, the company is reducing expenses in a number of key areas, including a reduction in the company’s workforce. These developments are part of Burton’s ongoing effort to be a nimble, cost-conscious, resilient organization and to reach out to new audiences while staying true to its core consumers.

Laurent Potdevin moved into the role of President of Burton from Senior VP of Operations in November 2002 with the aim of carefully analyzing all areas of the company to identify ways to improve processes, streamline operations, and strengthen the brand. In tandem with this, Burton Corp. has combined its two offshoots — Gravis Footwear and a soon-to-be-launched clothing line — under the leadership of a single president, David Schriber. These changes have resulted in a reallocation of resources aimed to foster the development of pinnacle products, capitalize on technological advancements, raise the bar on quality and innovation and evolve into a lifestyle brand.

“I am pleased to report that as we go through the 2003 season and plan for 2004 and beyond, Burton is a profitable and financially healthy organization,” says Potdevin. “Even if it was a booming economy, we would be scrutinizing our expenses, resources and workforce. As the leaders in market share, we can’t afford to sit back — we always need to be questioning how we are allocating our resources, looking at how we can work more efficiently and finding ways to be smarter in how we develop and market our products.”

Burton’s enhanced efficiencies will drive a reinvestment of resources toward the development of groundbreaking products, pioneering partnerships and advanced technologies. Burton’s 04 product line, available in stores this summer, features the following:

Advanced technologies for outerwear, such as Spaceloft® insulation by Aspen Aerogels, and Burton’s pioneering welded seam construction

oBurton’s T-6 board, featuring a new, light-weight aluminum honeycomb core

oBurton’s Amp Jacket, a wearable electronic jacket for use with iPod"¢, the portable digital music player made by Apple®

oBurton’s 04 boot line, the lightest, most comfortable and highest performance boots in the company’s history.

With new changes in place, Burton is well positioned to capitalize on and drive the continued growth and progression of snowboarding. According to the National Sporting Goods Association, snowboarding was the fastest growing sport in the U.S. last year, increasing by 23 percent to a total of 5.3 million participants. Burton’s LTR program gives these new riders an easy, accessible, and painless way to start. On the other end of the scale, the riders on Burton’s Global Team continue to push the envelope and bring the sport to new levels. By capturing the hearts of long-time riders as well as the excitement of first-timers, Burton can look forward to a long, successful road ahead.

Burton Snowboards, the world’s first snowboard factory, is a pure snowboard company solely dedicated to creating and perfecting a full-range of the best snowboarding equipment on the planet. Led by founder and owner Jake Burton, widely considered the pioneer of snowboarding, Burton’s passion is snowboarding – evident by their overriding mission to open snowboarding at every mountain resort. Why aren’t you riding? Celebrating 25 years in 2002, Burton has fueled the growth of snowboarding worldwide through continuous work with, and support of, their Global Team riders and development of successful programs such as Learn-To-Ride (LTR), The Chill Foundation, and the US Open Snowboarding Championships. Don’t make excuses. Headquartered in Burlington, Vermont with international offices in Innsbruck, Austria and Tokyo, Japan, Burton, the industry leader, is the brand of choice foor millions around the world. There is snow somewhere.