Quiksilver U.S. Launches Pre-Arranged Chapter 11 Restructuring

Quiksilver, Inc.

today announced that it commenced voluntary proceedings for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") for its U.S. subsidiaries. The chapter 11 filing, which is supported by 73% of the Company's senior most class of debt, will facilitate Quiksilver's financial and operational restructuring, which is designed to restore the Company to long-term financial health. The Company's European and Asia-Pacific businesses and operations remain strong and are not part of this filing. Additionally, holders of the Company's Eurobonds sufficient to waive any technical default arising from the filling have agreed to allow