Oakley, Inc. announced that Tom George, the company’s Chief Financial Officer, has resigned to pursue a new opportunity as the Chief Financial Officer of a private emerging growth company in San Diego, California.

On an interim basis, until the company hires a replacement, Link Newcomb, Oakley’s Chief Operating Officer, will also assume the responsibilities of the chief financial officer. Mr. Newcomb previously held the position of Oakley’s Chief Financial Officer from July 1995 through January 1997, at which time he was appointed Chief Operating Officer. Mr. Newcomb has also been a certified public accountant since 1984.

“Tom has been a valuable member of Oakley’s executive team since October 1997 and I am disappointed to see him leave. We appreciate the contributions that he has made over the past 7 years and wish him well in this new endeavor,” commented Chief Operating Officer Link Newcomb.

The company also revealed in an 8-K filing that Abbott Brown and Lee Clow indicated On February 9, 2005 that for personal reasons they will not stand for re-election to the Board of Directors of Oakley, scheduled to occur at the next Annual Meeting of Shareholders on June 3, 2005. Both directors will continue to serve on the Board until the Annual Meeting.