Statement regarding ownership of ARENA

Peemoeller GmbH & Co Beteiligung KG and Mario Chesi have transferred all their shares in Arena Distribution S.A., holding company of the Arena-Group, to BLB-Beteiligungsgesellschaft Gamma mbH, a wholly owned subsidiary of Bayrische Landesbank, Munich, for an undisclosed amount.

The ARENA brand in South East Asia, Japan, China and Korea is owned by Descente of Japan while markets in Europe, North & South America, Oceania and the Middle-East are own by a group of shareholders which includes: Peemoeller GmbH & Co Beteiligung KG, Mario Chesi, the Bayrische Landesbank of Munich.

In 1998, MM. Peemoeller and Mr. Chesi retired as directors of Arena and stepped back from involvement in the day to day business affairs. Since that time, the company has been managed by Mr. Richard Litzel (CEO, Chief Executive Officer) and Patrick Chollet (CFO, Chief Financial Officer).

Recently shareholders Peemoeller GmbH & Co Beteiligung KG and Mario Chesi sold their shares in Arena Distribution S.A., holding company of the Arena-Group, to BLB-Beteiligungsgesellschaft Gamma mbH, a wholly owned subsidiary of Bayrische Landesbank, Munich, for an undisclosed amount.

Should anyone need more details, please do not hesitate to contact Arena Communications by email at gkiehl@aol.com