Nike Sells Starter to Iconix Brand Group

Beaverton/Kreton (USA) 15 November (PROTEXT/PRNewswire) - NIKE, Inc. (NYSE:NKE) today announced that it has reached a definitive agreement to sell itsStarter brand to Iconix Brand Group, Inc. (Nasdaq: ICON) for US$60 millionin cash. Nike expects the transaction to be completed in December.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990818/NIKELOGO)

"We're pleased to have found a buyer committed to investing in and growingthe Starter brand," said Nike Inc. President and CEO Mark Parker. "UnderNike's ownership, Starter has significantly strengthened its brand andproduct design and development capabilities. It is a difficult decision todivest any business, but we have found the right buyer and this is theright choice for Nike. Iconix is a well-respected brand builder andmanager."

Nike decided to divest Starter, acquired in 2004, following a strategicreview of the company's Exeter Brands Group, of which Starter is the mainbusiness. As part of the company's long-term growth strategy, Nike isoptimizing its portfolio of subsidiary brands, which contribute more thanUS$2 billion in annual revenues, to ensure the company is investing in thegreatest growth opportunities with the highest returns. Exeter is thesmallest subsidiary in Nike's portfolio. Starter's growth potentialrelative to other brands in Nike's portfolio, such as Converse, Cole Haan,Hurley and Nike Golf, resulted in the decision to divest. Nike alsorecently announced its intent to explore the sale of Nike Bauer Hockey.That exploration process is still under way.

Founded in 1971, Starter pioneered the league licensed apparel businessthrough agreements with Major League Baseball, the National BasketballAssociation, the National Hockey League and the National Football League.Starter is distributed primarily in the United States through Wal-Mart, andinternationally through licensees.

Neil Cole, Chairman and CEO, Iconix, stated, "Starter is an iconic brandthat diversifies our portfolio of holdings by moving us into the athleticapparel, team sports and athletic footwear categories. It is a brand with agreat deal of growth potential, both in the United States and around theworld, and one which I am confident that Iconix can quickly add a lot ofvalue. We are very excited to be working with Wal-Mart on this project andbelieve that with their reach and our marketing expertise Starter has thepotential to become one of the largest athletic apparel and footwear brandsin the world."

About NIKE, Inc.

NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer,marketer and distributor of authentic athletic footwear, apparel, equipmentand accessories for a wide variety of sports and fitness activities. Whollyowned Nike subsidiaries include Converse Inc., which designs, markets anddistributes athletic footwear, apparel and accessories; NIKE Bauer HockeyInc., a leading designer and distributor of hockey equipment; Cole Haan, aleading designer and marketer of luxury shoes, handbags, accessories andcoats; Hurley International LLC, which designs, markets and distributesaction sports and youth lifestyle footwear, apparel and accessories andExeter Brands Group LLC, which designs and markets athletic footwear andapparel for the value retail channel. For further information about Nikevisit http://www.nikebiz.com.

About Iconix Brand Group, Inc.

Iconix Brand Group Inc. owns, licenses and markets a growing portfolio ofconsumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOEBOXER (R), RAMPAGE (R), MUDD (R), LONDON FOG (R), MOSSIMO (R), OCEANPACIFIC (R), OP (R), DANSKIN (R), ROCA WEAR(R), CANNON (R), ROYAL VELVET(R), FIELDCREST (R) and CHARISMA (R). The Company licenses it brands to anetwork of leading retailers and manufacturers that touch every majorsegment of retail distribution from the luxury market to the mass market inboth the U.S. and around the world. Iconix, through its in-houseadvertising, promotion and public relations agency, markets its brands tocontinually drive greater consumer awareness and equity.

Web site: http://www.nikebiz.com

Source: NIKE, Inc.

Investors

Pamela Catlett

Tel.: +1-503-671-4589

or

Media

Alan Marks

Tel.: +1-503-671-2673, both of NIKE, Inc.

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