Veltec and Descente Join Forces January 30, 2008

( Carson City, NV and Valkenswaard, the Netherlands) Veltec, the company that markets some of the world’s finest cycling brands has signed an agreement with Descente, Ltd. to become the licensee of the Descente brand for the cycling, triathlon, running and fitness markets , in North America and Europe beginning February 1.

For over 70 years, Descente has been working with world-class athletes, numerous Olympic and professional cycling teams driving apparel innovation and performance. As a result, today the Descente product line consists of top-quality performance cycling, triathlon, running and fitness apparel.

The addition of Descente cycling, triathlon, running and f itness apparel to the Veltec portfolio of products combines the strengths of the Descente brand with the sales, marketing and distribution strengths of Veltec. This will improve the availability and profitability of these Descente product lines for Veltec’s retail partners for years to come.

Hideo Kioshige, President of Descente North America, said, “Descente’s rapid growth in the cycling, triathlon and running markets is a testament to the strength of the brand and the quality of the people and products. We are confident that Veltec’s financial strength, strong marketing, sales and distribution capabilities will take the brand to the next level.”

Organizationally, Descente cycling, triathlon, running and fitness apparel will be a part of Veltec’s newly formed soft goods division. To manage this division, Hugh Walton has joined the Veltec team. Previously, Walton was a co-founder of Pearl Izumi and over the last five years he was responsible for rebuilding the Descente brand in the cycling market.

“The combined strength of the Descente line of cycling products with the sales, marketing and distribution power of Veltec, allow us to offer world-class, high-performance cycling apparel, developed by a team of cycling industry professionals,” said Walton.

In 2005, Veltec acquired Shebeest, the leading brand of women’s cycling and athletic apparel. Shebeest will maintain its focus and independent product design, development and brand identity. Both the Descente and the Shebeest brands will benefit from the synergies, strengths and resources created under the new soft-goods division of Veltec.

Manfred J. Krikke, who recently joined Veltec as its new CEO, commented: “Descente is an excellent fit with Veltec’s line-up performance cycling products. As always, we aim for the highest quality products in each category and believe Descente is precisely that. We are also excited to bring on board an excellent team that has significant experience in the apparel business and are passionate about cycling.”

About Descente

The legendary Descente brand was established almost 70 years ago and was forever emblazoned upon the American and European psyche when Eric Heiden won five gold medals in the 1980 Winter Olympics wearing the now-famous hooded, yellow, skin-tight speedskating suit. Descente has been a supplier to more than 30 Olympic teams, including the Canadian speedskating teams and the Swiss alpine teams. Descente became the number one cycle apparel brand in the world throughout the late ‘80’s and early ‘90’s, worn by the first American team to compete in the Tour De France, the 7-Eleven team.

About Veltec:

The Veltec Group is an international group of companies that markets some of the world’s finest cycling brands in North America and Europe . Veltec and its quality product lines have helped cyclists enjoy their passion for cycling for over for 30 years.

Veltec Sports exclusively markets Sidi in the US, and Colnago, Descente, Enervit, Shebeest and Vredestein in both the US and Canada.

Veltec Benelux exclusively markets BMC, Cervélo, Concorde, Intense, Wilier, Cyclefit, Cyclops, Easton, Enervit, Pariba, Profile, Sidi, SMP, Speedplay and Ultima in the Netherlands, Belgium and Luxemburg.

Fore more information, please contact;

Hugh Walton, Veltec Sports

hugh@veltecsports.com