Vans, Inc. Announces Plans for Seventh New Skatepark At Colorado Entertainment Center

Business Wire, Oct 6, 1999

SANTA FE SPRINGS, Calif.--(BUSINESS WIRE)--October 6, 1999--

Vans, Inc. (Nasdaq: VANS) announced plans to open its seventh VANS skatepark in Westminister, Colorado, a suburb of Denver strategically located on the main highway to Boulder. The large-scale skatepark, measuring 45,000 square feet indoor and 10,000 square feet outdoor, is scheduled to open in fall 2000 as part of an entertainment center that will also include an existing 24-screen AMC Theatre. The developer is Westcol Center, LLC, a joint venture of Entertainment Properties Trust and Excel/Legacy.

Gary H. Schoenfeld, Vans' President and Chief Executive Officer commented, "We are excited to announce plans to open our seventh skatepark. This facility, which will incorporate both retail and entertainment components, allows us to connect with the younger consumer on multiple levels through a single destination. We look forward to our new partnership with the city of Westminister and to being an integral part of that community."(a)

Mr. Schoenfeld added, "By this time next year, we expect to have at least seven skateparks open around the country which have the potential to strengthen both our brand and our bottom-line performance. We remain committed to the goal of becoming the premier lifestyle brand for the youth market and we will continue to implement these types of strategic initiatives."

Vans, Inc. is a leading branded lifestyle company for the youth market. Vans reaches its 10 to 24 year-old target consumers through the sponsorship of Core Sports(TM), such as skateboarding, snowboarding, surfing and wakeboarding, and through major entertainment events and venues, such as the VANS Triple Crown(TM) Series, the VANS Warped Tour(TM), the VANS World Amateur Skateboarding Championships, the world's largest VANS skateparks, and the High Cascade Snowboard Camp(TM). The Company operates 120 retail stores in the U.S. and Europe, and designs, markets and distributes worldwide active-lifestyle footwear, clothing and accessories, performance footwear for Core Sports(TM), snowboard boots, step-in bindings, and snowboarding outerwear. Vans' Internet address is www.vans.com.

(a) This is a forward looking statement regarding the future financial performance of the Company's current and proposed skateparks. The actual performance of such skateparks could vary significantly. Important factors which could cause such performance to vary include, but are not limited to; (i) the successful completion of the leases and construction of the proposed parks; (ii) the continued popularity of sports such as skateboarding, in-line skating and BMX bicycle riding; and (iii) the possible opening of competing skateparks by government municipalities and/or companies with significant brand recognition among the Company's customers.