HEAD N.V. Announces Revised Release Date of its Second Quarter Results And Gives a Trading Update.

July 30th, 2009

HEAD N.V. Announces Revised Release Date of its Second Quarter Results And Gives a Trading Update.

Amsterdam – July 30, 2009 – HEAD N.V. (VSX: HEAD, U.S. OTC: HEDYY.PK), a leading global manufacturer and marketer of sports equipment, announced today that, due to technical reasons, it would be delaying the release of its second quarter results for the three and six months ended 30th June 2009, from the 13th August 2009 to the 21st August 2009.

Trading Update

Results of Operations for the Six Months Ended June 30, 2009 and Outlook for the Full YearFor the first six months of the year we expect our net revenues at constant currency to be up to 10% below those achieved in the first six months of 2008. We are still experiencing difficult trading conditions, particularly in diving and to some extent in winter sports. In the second quarter we launched our YOUTEK™ Radical Series, our new tennis racquet line which has helped drive racquet sales in the second quarter compared to the second quarter of 2008, when no new racquet products were launched.
Visibility of revenues for the full year remains limited. In particular, we are unable to determine whether the current downturn in the sporting goods industry will abate. However, our current expectation is that our 2009 revenues will be lower than our 2008 revenues. Such a decline, combined with the large cash costs of our interest expense, our capital expenditures and our having begun 2009 with less cash than at the same period in 2008 and being subject to seasonal capital requirement peaks due to the seasonal nature of our business, will result in us having to manage our working capital more aggressively particularly during the third and fourth quarters of this year. To the extent such actions are insufficient to fund our working capital requirements, we could be required to generate additional cash or secure additional credit facilities. However, the exchange offer for the 8½% senior notes due 2014 issued by our subsidiary, HTM Sport- und Freizeitgeräte AG, is expected to reduce our cash interest expense.

Liquidity Position

In order to meet an anticipated shortfall in available cash in the third and fourth quarters of 2008, in October of the same year we entered into short-term lines of credit under which borrowings of approximately €5.0 million were drawn. These facilities were required to be repaid in full on December 31, 2008. All amounts outstanding under such facilities have been repaid.
We expect that we will also have a seasonal shortfall in available cash in the third and fourth quarters of 2009. In order to meet this shortfall and to execute our business strategy as planned for the remainder of 2009, even following the consummation of the exchange offer for the 8½% senior notes due 2014 issued by HTM Sport- und Freizeitgeräte AG, we have determined that we will require an additional working capital facility of up to €10.0 million for the remainder of 2009. However, as of the date of this press release we have not identified a lender for this working capital facility. We cannot be sure that we will be able to obtain the necessary financing on commercially reasonable terms, if at all. If we are unable to obtain this working capital facility or other financing we may be forced to:

reduce or delay our business activities, capital expenditures and research and development; sell assets; aggressively manage working capital; raise equity capital; or restructure or refinance all or a portion of our debt on or before maturity.
We may not be able to accomplish any of these alternatives on a timely basis or on satisfactory terms, if at all. In addition, the terms of our existing and future indebtedness may limit our ability to pursue any of these alternatives.
More details on our liquidity and capital resources can be found on our website http://www.head.com

RMB 20 Million Loan Agreement

In July 2009, Head Sports (Hui Zhou) Corp. (“Head China”), an entity in which we have a 82.86% controlling interest, has reached an agreement to enter into a loan agreement with Bank of China Co., Ltd (the “BoC Loan”). Head China expects to formally execute the BoC Loan in August 2009. Under the BoC Loan, Head China will be entitled to draw up to RMB 20 million, corresponding to an amount of approximately €2.08 million, in one or more draw-downs for the purpose of financing its working capital requirements. The BoC Loan will bear interest at a variable rate equal, for each draw-down, to the China Central Bank standard three-year term loan rate applicable on the date of such draw-down, plus a 7% margin. The interest rate will be re-set, for each draw-down, on the anniversary date of such draw-down. The loan is repayable in three installments of RMB 6 million in 2010 and RMB 7 million in each of 2011 and 2012. The BoC Loan is secured by a mortgage over land and real property of Head China located in Daya Bay, China.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” and similar terms and phrases, including references to assumptions, as they relate to Head N.V., its management or third parties, identify forward-looking statements. Forward-looking statements include statements regarding Head N.V.’s business strategy, financial condition, results of operations, and market data, as well as any other statements that are not historical facts. These statements reflect beliefs of Head N.V.’s management as well as assumptions made by its management and information currently available to Head N.V. Although Head N.V. believes that these beliefs and assumptions are reasonable, the statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors include, but are not limited to, the following: the impact of the current global economic turmoil, weather and other factors beyond their control, competitive pressures and trends in the sporting goods industry, our ability to implement their business strategy, our liquidity and capital expenditures, our ability to obtain financing, our ability to realize the cost savings expected from the cost reduction program, our ability to compete, including internationally, our ability to introduce new and innovative products, legal proceedings and regulatory matters, our ability to fund their future capital needs, and general economic conditions. These factors, risks and uncertainties expressly qualify all subsequent oral and written forward-looking statements attributable to Head N.V. or persons acting on its behalf.

About Head

HEAD Group is a leading global manufacturer and marketer of premium sports equipment.

HEAD NV’s ordinary shares are listed on the Vienna Stock Exchange (“HEAD”).

HTM is a subsidiary of Head N.V.

Our business is organized into four divisions: Winter Sports, Racquet Sports, Diving and Licensing. We sell products under the HEAD (tennis, squash and racquetball racquets, tennis balls, tennis footwear, badminton products, alpine skis, ski bindings and ski boots, snowboards, bindings and boots), Penn (tennis and racquetball balls), Tyrolia (ski bindings), and Mares/Dacor (diving equipment) brands.

We hold leading positions in all of our product markets and our products are endorsed by some of the world’s top athletes including Andre Agassi, Hermann Maier, Bode Miller, Amelie Mauresmo, Svetlana Kuznetsova, Novak Djokovic Andrew Murray, Ivan Ljubicic, Didier Cuche, Marco Büchel, Patrick Staudacher, Maria Riesch and Sarka Zahbrovska.

For more information, please visit our website: http://www.head.com

Analysts, investors, media and others seeking financial and general information, please contact:

Clare Vincent, Investor Relations
Tel: +44 207 499 7800
Fax: +44 207 491 7725
E mail: headinvestors@aol.com

Gunter Hagspiel, Chief Financial Officer
Tel: +43 5 574 608 0
Fax +43 5 574 608 130

Head N.V.
Rokin 55
NL 1012 KK Amsterdam
ISIN: NL0000238301
Stock Market: Official Market of the Vienna Stock Exchange

HTM Sport- und Freizeitgeräte AG
Tyroliaplatz 1
A 2320 Schwechat
ISIN: XS0184717956 / XS0184719143
Stock Market: Luxembourg Stock Exchange