CANNONDALE INTRODUCES 2002 CANNIBAL ATV OFFERING HIGH-PERFORMANCE AND HIGH VALUE

The Cannibal features the same 432cc fuel-injected, dual overhead-cam motor and lightweight, TIG-welded CAAD aluminum frame as the FX400. The innovative electric-start motor also boasts a one-piece crankcase, cassette transmission, reversed cylinder head, and separate engine and clutch oils. The Cannibal’s lightweight 6061-T6 aluminum frame has replaceable engine rails, brush guard, grab rail, sub-frame and steering stop, along with an in-frame oil reservoir and linkless rear suspension.

According to Cannondale Motorsports Product Manager Chris Petron, the American-made Cannibal can go head-to-head with any other production quad on the market. “The only ATV that beats the Cannibal’s power-to-weight ratio is our own FX400,” said Petron. “The Cannibal also has virtually the same speed, ergonomics and handling as the FX400, all of which have been highly praised by the ATV press.”

The $7,950 FX400 was reviewed by the ATV press earlier this year to unanimous acclaim. Although each magazine was effusive in its praise of the FX400, perhaps the most telling remark came from 4-Wheel ATV Action which stated flatly that “in a contest of all-out performance with the Cannondale, it looks like Honda, Yamaha and Bombardier brought knives to a gun fight.”

Petron also said that the initial production runs of two Cannondale motorcycle models, the XC400 and EX400, have been moved out to September and October, respectively, when revised versions of both bikes will be introduced as 2002 models. “The success we’ve been enjoying with ATVs has compelled us to prioritize their production over motorcycle production,” said Petron. “We’re looking forward to rolling out both bikes this fall as part of our 2002 line.”

This press release contains forward-looking statements, as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of various risks and uncertainties, including risks and uncertainties described in this press release, as well as those detailed from time to time in the Company’s periodic reports on Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Cannondale Corporation is the world’s leading manufacturer of high-performance bicycles. The Company’s bicycles and bicycle accessories, which include clothing, packs and bags, and HeadShok suspension forks are marketed under the Cannondale brand name and “Handmade in USA” logo, and are sold in the U.S. and in more than 60 foreign countries. The company has also entered the motorsports industry with its MX400 motocross motorcycle and FX400 ATV. Additional motorcycle and ATV models are currently in development.

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