Ritchey - Epic press release

November 7th 1995

We are very excited to announce a momentous step in the history of the cycling industry, one that we believe takes us full cicle. Specialized Bicycle Components and Ritchey Design. Inc. are joining together in a new company called The Epic Team. Unlike much of what we have been seeing in the industry, this is an alliance of two healthy and well run companies who share a strategic vision of the future. This new holding company brings together the industry's two best design, development and business minds: Mike Sinyard and Tom Ritchey.

As you know we been aggressive competitors over the years. But we share tremendous mutual respect for each other's accomplishments and talents. In fact, there are many synergies between Specialized and Ritchey, starting with the very inception of this sport 20 years ago, and our alliance will enable them to flourish. Most importantly, since the 1970's, we have shared a vision to continually grow the cycling industry through innovative product development. The financial strength of the alliance will allow investment in product testing and development, system enhancements and upgrades.

We are also both dedicated to you, the specialty bike retailer, and to creating exciting, value-added products that wil help you to continue to profitably serve your customers.

Specialized and Ritchey will continue to operate as separate companies. Our physical locations and operations will remain completely separate. Ritchey will maintain its corporate headquarters in Redwood City, Ca. while Specialized will continue to operate out of Morgan Hill, CA.

You will see absolutely no difference in the way your relationships are handled through either company. Specialized will continue to sell Specialized product to retailers through its global subsidiary and worldwide distribution network. Ritchey will continue to grow its relationships with distributors and retailers. And as we move forward together, you will see more and more results of the alliance between two of the legends of this industry through an explosion of new product design and development that will lead the sport forward. We're not striving to be the biggest in the industry, but rather the best.

we are very excited about the future of cycling and our role in designing, manufacturing and bringing outstanding new products to market. We see tremendous opportunities ahead, and hope to partner closely with you to relaize them. If you have any questions or concerns, we would welcome a call to discuss them.

Sincerely,

Tom Ritchey

President - Ritchey Design

1 - 415- 368-4018

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