Apax Partners Funds acquire Spyder Active Sports, Inc.{mosimage}New York and Boulder, Colorado – Funds advised by Apax Partners announced on July 26, 2004, the acquisition of Spyder Active Sports, Inc., the leading alpine outerwear brand, in a transaction valued at approximately $100 million. Boulder, Colorado, based Spyder designs and markets one of the most recognized and respected brands of high-performance, technically oriented skiwear and outerwear in the world. The company has partnered with Apax Partners to continue to expand its product line and build on the momentum of the brand.

David Landau, Partner, Apax Partners, said, “Spyder is a strong brand that is growing rapidly, based on differentiated product that is recognized for superior performance and quality. We are excited to be partnering with the Spyder team as they continue to grow the business.”

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David Jacobs, the founder and CEO of Spyder, and former Canadian Downhill Ski Champion, will continue to lead the Spyder team. “We are excited to join with Apax Partners at this stage of Spyder’s growth. Apax Partners has a great track record and tremendous expertise and relationships in the retail and consumer sector. This will be helpful as Spyder pursues new opportunities to broaden our product line to include multiple seasons and other action sports, all while remaining focused on our core high-end customer.”

The investment in Spyder builds upon the significant activity of Apax Partners’ funds in the U.S. retail and consumer sector over the past 18 months, including such transactions as the $375 million investment in Phillips-Van Heusen Corporation to enable its acquisition of Calvin Klein; the second quarter IPO of Life Time Fitness, a rapidly growing operator of unique health and fitness centers; and, the highly successful sale of Greenbacks, Inc. to Dollar Tree Stores, Inc., the nation’s leading operator of single-price point dollar stores.

Spyder was advised in this transaction by Financo, Inc., and Wachovia Securities.

About Spyder Active Sports, Inc.
Spyder is the largest specialty ski brand in the world. It is an Official Supplier to the US Alpine, Australian, Canadian Alpine and Canadian Freestyle ski teams. The brand also supports Team Venom, a brand of high-profile pro freeskiers. Spyder products are renown for their integration of high-technology fabrication, sport-specific function, and fashion conscious designs. Based in Boulder, Colorado, the company sells high-performance outerwear and sportswear in the United States and Canada. Spyder is sold in 50 countries outside of North America through the Spyder-Europe office in Baar, Switzerland, and through independent distributors and around the world.

About Apax Partners
Apax Partners is one of the world’s leading private equity investment groups, operating across the United States, Europe, Israel and Japan. It manages and advises more than $12 billion on behalf of leading institutional investors around the world. With more than 30 years of direct investing experience, Apax Partners’ Funds provides long-term equity financing to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in companies at all stages of development from early stage to buy-out. Apax Partners’ Funds invests in companies across its six global sectors of: retail and consumer; media; information technology; telecommunications; healthcare; and financial services.

Apax Partners’ funds have been active investors in the retail and consumer sector on both sides of the Atlantic over the past three decades. Some of Apax Partner’s Funds retail and consumer investments include: Philips-Van Heusen/Calvin Klein, Life Time Fitness, Greenbacks, Inc., Performance Inc., The New Look Group, Focus Wickes Group, Office Depot, and Sunglass Hut. For more information, visit www.apax.com.

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