K2 and Shakespeare Monofilament Close Financing

On March 25, 2003, K2 Inc., K2 Corporation of Canada and Shakespeare Monofilament (UK) Ltd. as borrowers, and certain of their affiliates and subsidiaries, as either borrowers or as guarantors, closed a Canadian, U.S. and U.K. asset-based financing in the aggregate amount of US$225 million with a syndicate of lenders led by Bank One, N.A., as a lender and as administrative agent. The K2 group of companies are manufacturers of sporting equipment including skis, snowboards, skates and bikes.

The K2 group of companies were represented in Canada, by Gowling Lafleur Henderson LLP with a team that included Christopher Eustace in Ontario and David Kierans in Quebec, assisted by Charles Reagh of Stewart McKelvey Stirling Scales in Nova Scotia.

The agent was represented in Canada, by Ogilvy Renault with a team that included Kevin Morley, David Amato and Alan Sinclair in Ontario and Fran├žois Courteau in Quebec, assisted by James Sutcliffe of Bull, Housser & Tupper in B.C.; by Herbert Zechel in Alberta and James Carlson in Manitoba, both of Fraser Milner Casgrain LLP; by James Carlson of Fillmore & Riley in Manitoba; by Michael Milani, Q.C., of McDougall Gauley in Saskatchewan; and by C. Paul Smith of Stewart McKelvey Stirling Scales in the Atlantic provinces.

In the U.S., Bank One was represented by Terry Freeman, Daniel Garner, Robert Nash, Meredith Henchey, Leila Tredemeyer, Noel Bilitz, Mike Rist, Cathryn Berryman and Brian Lee of Jenkens & Gilchrist.

Lawyer(s)

Kevin J. Morley Michael W. Milani Daniel Garner James A. Carlson Noel Bilitz François Courteau Robert Nash C. Paul W. Smith Charles S. Reagh Leila Tredemeyer Cathryn Berryman David B. Kierans James E. Sutcliffe Herbert R. Zechel Christopher J. Eustace Terry Freeman Merideth Henchey Alan Sinclair Brian Lee David M.A. Amato Michael Rist