K-Swiss Schedules Special Stockholder Meeting in Connection with E.Land Transaction

  K-Swiss Schedules Special Stockholder Meeting in Connection with E.Land
  Transaction

Business Wire

WESTLAKE VILLAGE, Calif. -- March 5, 2013

K•Swiss Inc. (NASDAQ: KSWS) has scheduled a special meeting of stockholders
to, among other things, consider and vote on a proposal to adopt and approve
the previously announced Agreement and Plan of Merger, dated January 16, 2013,
by and among K•Swiss, E.Land World Limited, a corporation organized under the
laws of the Republic of Korea, Ian Acquisition Sub, Inc., a Delaware
corporation and an indirect wholly owned subsidiary of E.Land (“Merger Sub”),
pursuant to which Merger Sub will be merged with and into K•Swiss, with
K•Swiss surviving as an indirect wholly owned subsidiary of E.Land. The
special meeting will be held on Friday, April 26, 2013, at 8 a.m. Los Angeles
time at the Company’s corporate headquarters, located at 31248 Oak Crest Drive
in Westlake Village, California.

K•Swiss’ stockholders of record as of the close of business Friday, March 8,
2013, will be entitled to notice of and to vote at the special meeting.

The merger, which is expected to close during the second quarter of 2013,
requires the approval of 80% of K•Swiss’ outstanding voting power and
applicable regulatory approvals in addition to other customary closing
conditions.

About K•Swiss

Founded more than forty years ago in Van Nuys, California, K•Swiss introduced
the first all-leather tennis shoe, the K•Swiss “Classic” in 1966. Since its
inception, K•Swiss has rooted itself in California Sport with an aim to be the
most inspiring and innovative sports brand in the market. Today the Company
offers performance and lifestyle footwear and apparel for several categories
under its California Sports umbrella including Tennis Heritage, California Fit
(Running, Triathlon and Fitness) and California Youth. K•Swiss also designs,
develops and markets footwear under the Palladium brand. For more information
about K•Swiss, visit www.kswiss.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of
the “safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995 about the expected timing for closing of the merger. These statements
are based on the current beliefs and expectations of K•Swiss’ management and
are subject to known and unknown risks and uncertainties, including, but not
limited to: (i) K•Swiss may be unable to obtain stockholder approval as
required for the merger; (ii) conditions to the closing of the merger may not
be satisfied or waived; (iii) the merger may involve unexpected costs,
liabilities or delays; (iv) the outcome of any legal proceeding relating to
the merger; (v) the ability and timing to obtain required regulatory
approvals; (vi) the occurrence of any event, change or other circumstances
that could give rise to the termination of the merger agreement; and (vii)
other risks to consummation of the merger, including the risk that the merger
will not be consummated within the expected time period or at all. A complete
description of these factors, as well as others which could affect the
Company’s business is set forth in the Company’s periodic filings, including
its Form 10-K for the year ended December 31, 2012, which was filed with the
Securities and Exchange Commission (“SEC”) on February 27, 2013. Readers are
cautioned not to place undue reliance on these forward-looking statements.
K•Swiss undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events, or
otherwise.

Additional Information about the Proposed Merger and Where to Find It

In connection with the proposed merger, K•Swiss plans to file with the SEC and
furnish to its stockholders a proxy statement. BEFORE MAKING ANY VOTING
DECISION, STOCKHOLDERS OF K•SWISS INC. ARE URGED TO READ THE PROXY STATEMENT
AND OTHER PROXY MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER AND RELATED MATTERS.
Stockholders will be able to obtain free copies of the proxy statement and
other documents filed with the SEC by K•Swiss through the website maintained
by the SEC at www.sec.gov, at the K•Swiss’ website at
http://www.kswiss.com/customer/page/investors and from K•Swiss by directing a
written request to K•Swiss, 31248 Oak Crest Drive, Westlake Village, CA 91361,
Attention: Investor Relations.

K•Swiss and its executive officers and directors may be deemed to be
participants in the solicitation of proxies from the stockholders of K•Swiss
in connection with the proposed merger. Information about the interests of
these executive officers and directors in the transaction described herein
will be included in the proxy statement described above. Additional
information regarding these directors and executive officers is also included
in the Company’s Form 10-K, which was filed with the SEC on February 27, 2013.
This document is available free of charge at the SEC’s website at www.sec.gov
and from K•Swiss by contacting Investor Relations at the address set forth
above.

Contact:

K•Swiss Inc.
George Powlick, 818-706-5100
Chief Financial Officer