Specialized - Epic press release

November 8th 1995

Specialized and Ritchey Join Forces
The Epic Team is formed as a holding company

Morgan Hill and Redwood City, Ca (November 8th, 1995): Specialized Bicycles Components and Ritchey Design, Inc. announced today that they are aligning together in a newly formed holding company called the Epic Team

The alliance brings together the industry's two best design, development, and business minds, Mike Sinyard, founder of Specialized, and Tom Ritchey, founder of Ritchey, both widely recognized as pioneers in the sport of mountain biking and as current leaders in the development of innovative cycling products.

"I have known Tom as a respectful competitor for more than 20 years. Aligning with Ritchey and building on each of our strengths, therefore, makes tremendous strategic sense." said Mike Sinyard. "Both companies are dedicated to creating a safe, enjoyable cycling experience. through innovative and performance products built to meet the sport's world class athletic demands. Our visions and passions for cycling match exceedingly well, which will enable us to create innovative products and to grow the industry."

"This alliance provides me with the freedom to focus entirely on design and substantial product innovation while increasing the momentum of Ritchey." said Tom Ritchey. "It enables me to access substantial financial resources, so I can expand the management, operation, and development of Ritchey to better serve my customers. It will also enable me to tap into a tremendous well of ideas so that I can fulfill my dream to design and manufacture a full complement of bicycle components. That's where I can bring the most value to the industry."

Specialized and Ritchey, along with full FullForce, will operate as separate companies under the umbrella of the Epic Team.

The companies' physical locations and operations will remain completely separate. Ritchey will maintain its corporate headquarters in Redwood City, CA and SPecialized will continue to operate out of its Morgan Hill, Ca headquarters. European subsidiaries for both companies will continue to operate under their current structure. Full Force will also continue to operate as a separate entity.

"Customers of both Specialized and Ritchey will see absolutely no difference in the way their relationships are handled" said Sinyard. "Specialized will continue to sell to retailers through its global subsidiary and worldwide distribution network, while Ritchey will maintain its sucessful relationships with distributors and OEM manufacturers."

Specialized Bicycle Components, based in Morgan Hill, CA. provides innovative and functional bicycles and bicycling accessories.

Ritchey Design, Inc. is a designer, manufacturer, and distributor of high-end cycling components and hand made bicycles. Ritchey, through its headquarters in Redwood City, California, and its sister company, Ritchey International, based in Lugano, Switzerland has distribution in more than 40 countries worldwide.

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