EXHIBIT 99
                                                                      ----------

THE NAUTILUS GROUP

FOR IMMEDIATE RELEASE
- ---------------------

CONTACTS: The Nautilus Group, Inc.          Investor Relations Inquiries:
          ------------------------          -----------------------------
          Rod Rice                          John Mills
          Chief Financial Officer           Integrated Corporate Relations, Inc.
          360-694-7722                      562-256-7049-203-222-9013



                THE NAUTILUS GROUP ANNOUNCES INITIAL DIVIDEND AND
                       AUTHORIZES STOCK REPURCHASE PROGRAM

VANCOUVER, WA - January 29, 2003 -The Nautilus Group, Inc. (NYSE: NLS), a
leading marketer, developer, and manufacturer of branded health and fitness
products, announced today that its Board of Directors declared an annual
dividend and has authorized a share repurchase program.

The Board of Directors has declared a $0.40 per share annual dividend payable
quarterly. The initial quarterly dividend of $0.10 per share will be payable
March 10, 2003, to shareholders of record at the close of business on February
20, 2003.

"Declaring a dividend demonstrates the Board's confidence in the Company's
long-term growth plans and continued strong operating cash flow. Management is
pleased to be able to return profits to our shareholders while continuing to
expand the reach of existing products and introducing new health and fitness
products to the direct, commercial and retail marketplace," said Brian Cook,
Chief Executive Officer of The Nautilus Group.

In addition, the Board of Directors authorized management to repurchase up to
$50 million of the Company's common stock in open-market transactions from
February 10, 2003 through June 30, 2003, with the terms of the purchases to be
determined by management based on market conditions.

Rod Rice, Chief Financial Officer of The Nautilus Group stated, "Given our
strong balance sheet and expected operating cash flow in 2003, we believe
today's buyback is in the best interest of shareholders. Along with investments
in our core business, we believe that repurchasing shares at current levels will
yield the best return for investors relative to other investment alternatives."

For the year 2003, The Nautilus Group projects operating cash flow to be in the
range of $85 to $95 million. The Company's cash and short-term investments are
projected to be between $47 and $49 million as of December 31, 2002. Actual
fourth quarter and year-end results for the full year of 2002 will be discussed
on the Company's earnings conference call, February 6, 2003 at 5:00 pm EST.

ABOUT THE NAUTILUS GROUP

The Nautilus Group, Inc. is a leading marketer, developer, and manufacturer of
branded health and fitness products sold under such well-known names as
Nautilus, Bowflex, Schwinn and StairMaster. The Company currently markets its
Bowflex home fitness equipment and Nautilus Sleep Systems through its
direct-marketing channel, using an effective combination of television
commercials, infomercials, response mailings, the Internet, and inbound/outbound
call centers. The Company sells its Nautilus, Schwinn and StairMaster commercial
fitness equipment through its sales force and selected dealers to health clubs,
government agencies, hotels, corporate fitness centers, colleges, universities,
and assisted living facilities. The Nautilus Group also markets and sells a
complete line of consumer fitness equipment, under its Nautilus, Schwinn and
StairMaster brands, through a network of specialty dealers, distributors, and
retailers worldwide. The Company is headquartered in Vancouver, Washington. The
Nautilus Group is located on the Web at www.nautilusgroup.com.



                                       ###

From time to time, The Nautilus Group may issue forward-looking statements
relating to its products and services, including statements regarding its
Bowflex, Nautilus, Schwinn Fitness, and StairMaster businesses. Factors that
could affect The Nautilus Group's actual results include availability of media
time and fluctuating advertising rates, a decline in consumer spending due to
unfavorable economic conditions, expiration of important patents, its reliance
on a limited product line, its ability to effectively develop, market, and sell
future products, growth management challenges including the growth resulting
from the acquisition of the assets of Schwinn Fitness in September 2001 and
StairMaster in February 2002, its ability to effectively identify and negotiate
any future strategic acquisitions, its ability to integrate the StairMaster
business and any other acquired businesses into its operations, unpredictable
events and circumstances relating to international operations including its use
of foreign manufacturers, government regulatory action, and general economic
conditions. Please refer to our reports and filings with the Securities and
Exchange Commission, including our most recent annual report on Form 10-K and
quarterly reports on Form 10-Q, for a further discussion of these risks and
uncertainties. We also caution you not to place undue reliance on
forward-looking statements, which speak only as of the date they are made. We
undertake no obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events.