New Balance strengthens product management team

Boston-based New Balance announces two key additions to enhance its product management team.
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BOSTON, October 8, 2008 – Boston-based New Balance announces two key
additions to enhance its product management team. Tom Carleo has been
named General Manager for the Running and Outdoor Business Units and Mark
Cavanaugh will be Strategic Business Unit Manager for Sport & Outdoor.

“Product is the true hero of the New Balance brand and Tom and Mark's
expertise and leadership will play a key role in helping us continue to
create the best footwear product in the industry.” says Joe Preston,
Executive Vice President, Global Footwear, Product & Marketing at New
Balance. “New Balance has achieved solid brand growth, particularly in
running, in recent years and this enhanced focus on delivering superior
product will enable us to increase our market share over the next five
years.”

Tom Carleo has been named General Manager for the Running and Outdoor
business units. Carleo has more than twenty years of experience working in
the global footwear industry, including his most recent role as Senior Vice
President Product for Saucony. Prior to that, Carleo worked for Nike as
their Global Footwear Product Director, Cross Training, and as the
company's Senior Global Product Line Manager for Running. He was also with
Nike Running and Track & Field in Japan and Oregon for more than six years.

A college track and field athlete who competed in the 1988 USA Olympic
Trials qualifier in the 1500 meters, Carleo earned his Bachelor of Art at
Boston College.

In addition, the company recently named Mark Cavanaugh as SBU Manager for
Sport & Outdoor. Cavanaugh was most recently at Nike, Inc. as that
company's Global Director of Sports Marketing for Nike Bauer Hockey after
managing Nike's cleated footwear business for more than 13 years. Cavanaugh
earned his B.S. in Business Administration from Northeastern University and
played football for the Huskies.

Both Carleo and Cavanaugh will report to Ray Hilvert, General Manager for
Footwear at New Balance.

New Balance, headquartered in Boston, MA has the following mission:
Demonstrating responsible leadership, we build global brands that athletes
are proud to wear, associates are proud to create and communities are proud
to host. New Balance employs more than 4,000 people around the globe, and
in 2007 reported worldwide sales of $1.63 billion. For more information
please visit http://www.newbalance.com.
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