NIKE, Inc. Reaches Agreement to Acquire Umbro

Beaverton, Oregon (ots/PRNewswire) -

- Move significantly expands Nike's global leadership in football

NIKE, Inc. (NYSE: NKE) today announced that it has reached
agreement on an all-cash offer to acquire Umbro plc, a leading United
Kingdom-based global football (soccer) brand with more than 70 years
of experience in the world's No. 1 sport and the world's biggest
football market.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990818/NIKELOGO)

The Board of Directors of Umbro plc, which is listed on the London
Stock Exchange, has unanimously recommended that shareholders accept
the offer of 193.06 pence, which together with the declared dividend
values the company at approximately US$582 million (285 million
pounds sterling), or approximately US$4.00 (195 pence) per share.

"Umbro is a brand with a powerful heritage and deep experience in
the world's most popular sport and the world's biggest football
market," said Nike, Inc. President and CEO Mark Parker. "With its
close links to The Football Association and the England team, Umbro's
future is even stronger than its past. This dynamic alignment of
Umbro and Nike, with our complementary strengths and numerous ways to
segment and grow the market, will lead the game at every level
throughout the world. We are fully committed to helping Umbro reach
its full potential, and we are delighted that Umbro's board is
unanimous in its support of our offer."

The acquisition will significantly expand Nike's global leadership
in football, a key growth category for the company. Since the early
1990s, Nike has grown its football revenues from about US$40 million
to approximately US$1.5 billion and established brand leadership in
the sport. Umbro sells products directly or through licensees in more
than 90 countries and has sports marketing relationships with many
top football players, teams and leagues, including the England
national team. Umbro's 2006 annual revenues were approximately US$276
million (149.5 million pounds). Umbro reports that if licensed sales
were translated to direct sales based on wholesale cost, total
wholesale equivalent sales were approximately US$755 million (409.4
million pounds).

Commenting on the agreement, Umbro CEO Steve Makin said, "This is
an excellent deal for all our stakeholders: it provides great value
for shareholders and exciting prospects for our colleagues, partners
and customers around the world. We will be a stronger and better
business as part of Nike and this deal will allow us to accelerate
our existing growth strategy by leveraging Nike's global resources
and expertise. We look forward to taking Umbro to new levels with
Nike's support."

Brian Barwick, CEO of The Football Association, said: "The FA has
enjoyed an excellent partnership with Umbro for more than 20 years.
We are delighted that the proposed acquisition will allow us to
continue our strong historical relationship with Umbro while
benefiting from the marketing expertise and financial strength of
Nike. Nike has provided firm assurances that The FA relationship with
Umbro will be protected and enhanced, and we look forward to working
closely with both companies moving forward."

Nike intends to operate Umbro as a stand-alone affiliate brand,
with a focus on accelerating the brand's existing growth strategy.
Similar to other brands in Nike's portfolio, Umbro will benefit from
Nike's product research, design and development expertise, and supply
chain and distribution resources.

Umbro will join a strong and growing Nike portfolio of affiliate
brands, including Converse, which was acquired by Nike in 2003, Cole
Haan and Hurley International. Converse exemplifies Nike's track
record of acquiring and growing complementary brands. Since acquiring
Converse in 2003, revenue has grown at a compound rate of 22 percent,
and in fiscal 2007 Converse revenues grew over 20 percent to surpass
US$550 million. The brand has benefited from Nike product design and
brand management expertise. Nike's portfolio of other businesses is
contributing more than US$2 billion in revenue today, and is targeted
to contribute 25 percent of the company's revenue growth by fiscal
2011. To discuss these developments with analysts and investors, the
company will hold a conference call Tuesday, October 23, at 3 pm ET.

U.S. Locations: +1-877-407-0778
International Locations: +1-201-689-8565

The call also will be webcast live at
http://www.NikeBiz.com/invest. If you are unable to participate in
the conference call or would like to access a replay of the call, it
will be available beginning October 23, 2007, through October 30,
2007. From U.S. locations, dial +1-877-660-6853 and enter account
number 286, conference number 259716 when instructed to do so. From
international locations, dial +1-201-612-7415. A replay of the call
also will be available at http://www.NikeBiz.com/invest.

FOR FURTHER INFORMATION:

Investor Contact
Pamela Catlett
+1-503-671-4589
Media Contacts
US: Alan Marks, Director of Media Relations: +1-503-671-2673
UK: Charlie Brooks, UK Head of Corporate Communications,
+44-(0)207-432-6390

About NIKE, Inc.

NIKE, Inc. based near Beaverton, Oregon, is the world's leading
designer, marketer and distributor of authentic athletic footwear,
apparel, equipment and accessories for a wide variety of sports and
fitness activities. Wholly owned Nike subsidiaries include Converse
Inc., which designs, markets and distributes athletic footwear,
apparel and accessories; NIKE Bauer Hockey Inc., a leading designer
and distributor of hockey equipment; Cole Haan, a leading designer
and marketer of luxury shoes, handbags, accessories and coats; Hurley
International LLC, which designs, markets and distributes action
sports and youth lifestyle footwear, apparel and accessories and
Exeter Brands Group LLC, which designs and markets athletic footwear
and apparel for the value retail channel. For further information
about Nike visit http://www.nikebiz.com.

This announcement is not intended to and does not constitute or
form any part of an offer or invitation to sell or subscribe for or
purchase any securities or solicitation any vote or approval in any
jurisdiction pursuant to the acquisition of Umbro plc or otherwise.

The distribution of this announcement in jurisdictions other than
the UK and the US may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than the UK and
US should inform themselves about, and observe, any applicable
requirements.

Web site: http://www.nikebiz.com

ots Originaltext: Nike, Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
investors, Pamela Catlett, +1-503-671-4589; or media, US, Alan Marks,
Director of Media Relations, +1-503-671-2673 or UK, Charlie Brooks,
UK Head of Corporate Communications,
+44-0-207-432- 6390; Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990818/NIKELOGO, AP Archive:
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