Deckers Outdoor Corporation announced that it intends to file a registration statement with the Securities and Exchange Commission for an underwritten offering of approximately 3.5 million shares of its common stock. The shares of common stock expected to be sold in the offering will include approximately 1.5 million primary shares to be offered by the Company and approximately 2 million shares to be sold by selling stockholders, including Douglas B. Otto, CEO, and other employees, members of management and members of the Board of Directors.

The Company will not receive any portion of the proceeds from the sale of shares by the selling stockholders. In addition, the selling stockholders intend to grant the underwriters an option to purchase additional shares of common stock to cover over-allotments, if any, of up to fifteen percent of the total amount of shares offered. Any shares issued under the option are currently expected to be sold by the selling stockholders, rather than the Company. The Company currently expects to file the registration statement during the first quarter of 2004.

The Company intends to use a portion of the net proceeds to the Company from the offering of primary shares to repay outstanding debt, including up to $7 million of the 16.75% subordinated notes, $13 million of the 9% junior subordinated notes and $7 million of senior term debt. Any remaining net proceeds will be used for general corporate purposes.