ROTTERDAM, The Netherlands, Oct. 24, 2002 (PRIMEZONE) -- Head N.V. (NYSE:HED) (VSX:HEAD), a leading global manufacturer and marketer of sports equipment, announced that it has purchased an additional 628,110 of its shares since the Company's last announcement on August 30th 2002. This brings the total number of shares purchased to 1,843,460, or 4.6% since the Board resolution authorizing the Board of Management to buy back up to 10% of its outstanding share capital during a period of 18 months was approved on 28th May 2002.
Details of any further share buy backs or any transactions relating to our treasury stock will be posted to our investor relations' site (www.head.com) under news releases.
About Head
Head NV is a leading global manufacturer and marketer of premium sports equipment. We are a technology driven company, our motto being "Superior Performance Through Superior Technology."
We can trace our roots back to 1950 when Howard Head, the inventor of the first metal ski, founded the company. The Tyrolia bindings and Mares diving brands were added in the 1970's and more recently the Penn balls and Dacor diving brands were acquired during the 1990's.
Head NV has been under its present management since 1996 and was listed on the New York Stock Exchange and the Vienna Stock Exchange in September 2000 in connection with our initial public offering.
Our current operations are organized into four divisions: Winter Sports, Racquet Sports, Diving and Licensing
Within these divisions we have created or acquired some of the most recognizable brands in the sporting goods market including:
Head
Tennis, squash and racquetball racquets; alpine skis and ski boots; snowboarding boards, bindings and boots; accessories and apparel
Penn
Tennis and racquetball balls
Tyrolia Ski bindings
Mares/Dacor Diving equipment
Our key ski, racquet and diving products all have leading market positions and appeal to a wide range of consumers from novices to some of the world's top athletes including Andre Agassi, Gustavo Kuerten, Hannes Trinkl and Francisco "Pipin" Ferreras.
Our products are sold through over 30,000 accounts including pro shops, specialty sporting goods stores and mass merchants in over 80 countries around the world.
Our strategy has always been to develop groundbreaking products positioned at middle to high price points. We believe this helps us achieve our financial returns as well as gain market share.
For more information, please visit our website: www.head.com