Quiksilver, Inc. Completes Sale of Rossignol

Press Release

• November 13 2008
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OFFICIAL PRESS RELEASE - THURSDAY, NOV. 13 - Quiksilver, Inc. (NYSE:ZQK) today announced that it had closed the sale of the Rossignol Group to Chartreuse & Mont Blanc. The transaction resulted from Quiksilver’s initiative, announced in January 2008, to sell Rossignol in order to reduce its exposure to the winter sports equipment manufacturing business. The sale, which was effective as of November
12, 2008, carried a transaction value of $40 million, comprised of $30 million in cash and a $10 million Seller’s Note. Net proceeds will be used to reduce indebtedness.

Robert B. McKnight, Jr., Chairman of the Board, Chief Executive and President of Quiksilver, Inc., commented, “The completion of this sale represents the culmination of our efforts to eliminate our exposure to hardgoods manufacturing. We’re delighted that we can now return to our roots, do what we do best and once again fully concentrate our efforts on our core apparel and footwear brands Quiksilver, Roxy and DC.”

In December 2007, Quiksilver sold the Roger Cleveland Golf Company to SRI Sports Limited in a transaction valued at $132.5 million. The Rossignol Group included Roger Cleveland Golf when Quiksilver acquired it in July 2005. Quiksilver, Inc. was advised by JP Morgan on both sale transactions.

About Quiksilver:
Quiksilver, Inc. (NYSE:ZQK) is the world’s leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories and related products. The Company’s apparel and footwear brands represent a casual lifestyle for young-minded people that connect with its boardriding culture and heritage.

The reputation of Quiksilver’s brands is based on different outdoor sports. The company’s Quiksilver, Roxy, DC and Hawk brands are synonymous with the heritage and culture of surfing, skateboarding and snowboarding, and its beach and water oriented swimwear brands include Raisins, Radio Fiji and Leilani.
The Company ? s products are sold in over 90 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders Club shops and other company-owned retail stores, other specialty stores and select department stores. Quiksilver’s corporate and Americas’ headquarters are in Huntington Beach, California, while its European headquarters are in St. Jean de Luz, France, and its Asia/Pacific headquarters are in Torquay, Australia.

Forward looking statements:
This press release contains forward-looking statements including but not limited to statements regarding the Company’s sale of Rossignol and the associated proceeds. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. Please refer to Quiksilver’s SEC filings for more information on the risk factors that could cause actual results to differ materially from expectations, specifically the sections titled Risk Factors and Forward-Looking Statements in Quiksilver’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.