Skullcandy CEO Named Ernst & Young Entrepreneur of the Year

Business Wire, July 2, 2008

Rick Alden, CEO and Founder of Skullcandy, Named 2008 Regional Entrepreneur of the Year

PARK CITY, Utah -- Rick Alden, CEO and Founder of Skullcandy, was named winner of the Ernst & Young Entrepreneur of the Year 2008 award for Utah on Friday, June 27th. Acknowledged for his outstanding leadership while delivering exceptional growth of Skullcandy, Inc., a leading developer of core audio products, Alden is one of 26 regional Entrepreneur of the Year recipients. This win secures Alden a seat as a nominee for the national award, which will be announced on November 15, 2008 at a black-tie gala hosted by comedian Jay Leno.

The Ernst & Young Entrepreneur of the Year award recognizes men and women who have excelled at growing and sustaining market-leading businesses. As CEO and Founder of Skullcandy, Alden has built a company dedicated to producing high-performance audio products, successfully saturating both the mainstream and action sports markets.

The recipe for Skullcandy's success can be directly attributed to Alden's razor sharp focus on keeping true to his personal passion for the outdoor action sports market - delivering products and making a name for Skullcandy in a niche space before bringing it to a wider audience.

"Skullcandy has been a crazy venture since day one," Alden stated. "Being an entrepreneur is normally an independent activity. Ernst & Young has spent 20 years fostering entrepreneurial communities bringing resources together with opportunities. Thank you to Ernst & Young for their support of young companies and this unique recognition. There is nothing better than finding a project you love, building an incredible team to work with, and watching it grow."

Creating audio products for the action sports industry and staying true to the needs of his core customers, Alden has also created demand in the mainstream market. His passion and strategy continues to yield tremendous results, as Skullcandy is currently experiencing its fourth year-over-year growth of more than 300 percent.

In 2003, Alden formed Skullcandy to offer fashionable, high-performance headphones to a core demographic in the action sports industry. In just five years, Skullcandy has introduced a line of more than 100 skews of headphones as well as other audio products, such as backpacks with built-in speakers and iPod accessories. Skullcandy products are available in more than 40 countries worldwide. Alden currently resides in Park City, Utah with his wife of 18 years and his four children: Tyler (16), Autumn (12), Brooklyn (10) and Preston (8).

For additional information on Skullcandy or its products, visit www.skullcandy.com.

About Skullcandy, Inc.

Skullcandy designs headphones, mp3 player watches, audio accessories and other audio-enabled lifestyle products, such as backpacks with built-in speakers and iPod controls. Skullcandy also collaborates with select brands to integrate its audio technology into products from snow helmets to outerwear, apparel, packs and bags. Skullcandy gear is sold worldwide through top retailers, specialty outlets and online at www.skullcandy.com.

About the Ernst & Young Entrepreneur Of The Year Awards

Ernst & Young's Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential.

For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.