EXHIBIT 99.1


                                       K2 INC. TO SELL SIMPLEX BUILDING PRODUCTS
                                       DIVISION TO LUDLOW BUILDING PRODUCTS,
                                       INC. FOR $27.5 MILLION



June 29, 2000

     Los Angeles, California - June 29, 2000 - K2 Inc. (NYSE: KTO) today
announced an agreement to sell its Simplex building products division to Ludlow
Building Products, Inc. for $27.5 million in cash. The transaction has cleared
regulatory approvals and is expected to close June 30, 2000.

     Simplex reported sales in the quarter ended March 31, 2000 of $17.7
million, while K2's sales from continuing operations for the first quarter
totaled $181.8 million.

     "The Simplex sale further emphasizes K2's commitment to enhancing
shareholder value by focusing our company's resources on growing our sporting
goods franchise," said Richard M. Rodstein, president and chief executive
officer. "While Simplex has been a consistent contributor for many years, this
divestiture will allow us to re-deploy assets to grow our core sporting goods
business through internal means and by acquisition."

     On an immediate basis, K2 plans to use the proceeds from the sale to reduce
debt.

     K2 Inc. is a leading designer, manufacturer and marketer of brand name
sporting goods, recreational and industrial products. The company's sporting
goods and recreational products include well-known names such as K2 and OLIN
alpine skis, K2, RIDE and MORROW snowboards, boots and bindings, K2 in-line
skates, STEARNS sports equipment, SHAKESPEARE fishing tackle, K2 bikes, and DANA
DESIGN backpacks. K2's other recreational products include PLANET EARTH apparel,
ADIO skateboard shoes and HILTON corporate casuals. K2's industrial products
include SHAKESPEARE extruded monofilaments, marine antennas and fiberglass light
poles.

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