Exhibit 99.1

 Deckers Outdoor Corporation Announces Repurchase of Preferred Stock

   GOLETA, Calif.--(BUSINESS WIRE)--Dec. 11, 2003--Deckers Outdoor
Corporation (NASDAQ: DECK) today announced that it has completed the
repurchase of the entire $5.5 million of preferred stock previously
issued to Mark Thatcher in connection with the acquisition of the Teva
worldwide assets.
   The Company financed the repurchase using the combination of an
advance on its line of credit and a $3.5 million increase in
borrowings under its senior term loan. In connection with the
repurchase and pursuant to the terms of the preferred stock, the
Company paid Mr. Thatcher a premium of approximately $438,000, which
is treated as a capital transaction and accordingly will have no
impact on the Company's net earnings for 2003. However, as previously
announced on October 22, 2003, under Generally Accepted Accounting
Principles (GAAP), the premium will reduce earnings available for
common shareholders and, therefore, is expected to negatively impact
the fourth quarter earnings per share by approximately $0.04 per
diluted share. Going forward, the transaction is expected to eliminate
approximately 1.5 million shares from the Company's average diluted
shares outstanding calculation beginning in 2004, effectively
eliminating approximately 13% of the dilution from the EPS
calculation.
   Douglas Otto, Chairman and Chief Executive Officer stated, "The
decision by our Board to repurchase the preferred stock is reflective
of the health of our business as well as our ongoing commitment to
maximizing shareholder value."

   Deckers Outdoor Corporation builds niche products into global
lifestyle brands by designing and marketing innovative, functional and
fashion-oriented footwear, developed for both high performance outdoor
activities and everyday casual lifestyle use. The Company's products
are offered under the Teva, Simple and Ugg brand names.

   * Statements in this press release that are not historical facts
are forward-looking statements, including the expected impact of the
repurchase of preferred stock on the Company's current and future
earnings and earnings per share. Numerous risks and uncertainties
could cause the Company's actual results to differ from the results
described in the forward-looking statements. Among these risks and
uncertainties are conditions in the general economy and in the
Company's retail environment, the effect of consumer preferences and
other factors discussed in the Company's filings made with the
Securities and Exchange Commission. The Company disclaims any
obligation to update or revise any of the forward-looking statements
in this news release.

    CONTACT: Deckers Outdoor Corporation
             Scott Ash, 805-967-7611
              or
             Integrated Corporate Relations, Inc.
             Chad A. Jacobs or Brendon E. Frey, 203-222-9013