Oakley Declares Annual Stock Dividend

Oakley has announced that its Board of Directors has declared a regular cash dividend of sixteen cents ($0.16) per share on its outstanding common stock, an increase of $0.01 per share over the company's dividend of fifteen cents ($0.15) per share paid last year.

The dividend will be payable October 28, 2005, to shareholders of record at the close of business on October 14, 2005.

Oakley has also announced the appointment of Frits van Paasschen to the company's Board of Directors. Mr. van Paasschen is president and chief executive officer of Coors Brewing Company, the third largest brewer in the U.S.

'His experience with some of the world's most recognized consumer brands and leadership in key markets outside the U.S. will be valuable as we strive to grow our business', said Oakley Chairman Jim Jannard. 'I look forward to Frits' many contributions and to the continued guidance and counsel of each board member'.