On October 1, 2009, Quiksilver, Inc. filed with the New York Stock Exchange (the NYSE) a written affirmation notifying the NYSE that, due to the appointment of two additional directors to the Company’s board of directors in connection with the previously announced financing provided to the Company by the Rhône Group, only four of the Company’s eight directors have been identified as independent. Accordingly, the Company’s board of directors does not satisfy Section 303A.01 of the NYSE Listed Company Manual, which requires that the board of directors of a listed company be comprised of a majority of independent directors, each of whom satisfies the independence requirements set forth in Section 303A.02. In order to cure the deficiency, the Company intends to appoint a new independent director to the Board. The Company is in the process of evaluating potential candidates and expects to appoint a new independent director within the next 30 to 60 days.

GE Capital, Corporate Retail Finance announced it acted as collateral agent on a $200 million asset-based credit facility for Quiksilver Inc. The loan which was previously announced by the company will be used for working capital needs. GE Capital Markets served as co-lead arranger.

Quiksilver Inc. announced that Anton Nistl has been named the new president of its DC Shoes business in the Americas effective immediately. Nistl's appointment marks the culmination of an executive search which began after Quiksilver decided in June to refinance its business, putting an end to alternate strategic paths which included the potential sale of DC. Most recently, Nistl was Senior Vice President of Sales at Vida Shoes International. He previously held positions of increasing responsibility with Adidas, Fossil and Saucony. In his new role, Nistl reports to Craig Stevenson, President of Quiksilver Americas.