Oakley Signs Ricky Carmichael to Four-Wheel Racing Sponsorship Agreement

FOOTHILL RANCH, Calif., Aug. 30, 2007 — Oakley, Inc. (NYSE:OO) today announced that it has signed a new sponsorship agreement with Ricky Carmichael, a 15-time American Motorcyclist Association (AMA) Champion, who is currently making his transition from racing motocross to stock cars. Carmichael’s sponsorship agreement includes lifestyle eyewear, goggles, and related to his new four-wheel racing career — Oakley’s new flame-resistant CarbonX® driving gear consisting of base layer (underwear), gloves, shoes/boots and the new Oakley Factory Pilot® race suit.

“Whether he races on two or four wheels Ricky is a true ambassador of our brand and will continue to play a key role in Oakley’s sports marketing and advertising efforts, said Scott Bowers, vice president of worldwide marketing, Oakley, Inc. “As a 15-year factory pilot for our eyewear, he’s experienced our technology and design expertise first-hand, so we’re proud to have the opportunity to equip him with Oakley racing-specific apparel as he enters the next chapter of his motorsports career.

“The image of Ricky Carmichael riding a motocross bike has been one of Oakley’s most recognized images for more than a decade, said Pat McIlvain, director of sports marketing, Oakley, Inc. “His natural talent, unwavering commitment to training, and winning record continues to set new standards of excellence in all corners of motorsports. We’re proud to call him part of our family and look forward to being part of his next set of accomplishments.

Carmichael recently embarked on a new four-wheel racing career with DEI/Ginn Motorsports after retiring from a record-setting two-wheel racing career that netted the 28-year old Floridian 150 career wins during more than 10 years of racing in AMA Supercross and Motocross. Oakley’s relationship with Carmichael dates back to his early days of racing as an amateur and holds the distinction of being the lone sponsor involved in each of Carmichael’s 25 major championships including 10 AMA Amateur National titles.

Oakley’s protective driving apparel utilizes a proprietary blend of fire-resistant CarbonX® fabric, an invention of Chapman Innovations, and provides a persistent protective barrier that when exposed to direct flame reaching temperatures in excess of 2,000 degrees Fahrenheit for 30 seconds, it won’t shrink, char, or lose its structural integrity.  Developed in cooperation with world’s best drivers, the professional grade race apparel uses 3-D anatomical construction for greater cockpit flexibility and, in the unfortunate event of a fire or accident, yields much greater times for exit or extraction.

About Oakley, Inc.
Oakley is a global leader in sport performance optics including premium sunglasses, goggles, and prescription eyewear. Headquartered in Southern California, the company’s optics brand portfolio includes Dragon, Eye Safety Systems, Fox Racing, Mosley Tribes, Oliver Peoples, and Paul Smith Spectacles. In addition to its global wholesale business, the company operates retail chains including Bright Eyes, Oakley Stores, Sunglass Icon and The Optical Shop of Aspen. The company also offers a wide selection of Oakley-branded apparel, footwear, watches and accessories. Additional information is available at www.oakley.com.