HEAD NV Announces Results for the Three Months ended 31 March 2005

May 12th, 2005

For the three months ended 31 March 2005 compared to the three months ended 31 March 2004:

Net revenues were down 9.5% to $83.6m Operating loss before restructuring costs increased by $4.6m to a loss of $9.0m Net loss decreased by $5.2m
Johan Eliasch, Chairman and CEO, commented:

"Q1 has been tough on all of our divisions with a declining diving market in Europe, the later winter season and poor snow in North West US and Italy and a decline in the European Tennis market.

As previously communicated, we see restructuring as an ongoing project and recently announced the decision to outsource 90% of our remaining tennis racquet production from sites in Austria and the Czech Republic to China.

Whilst market condition are tough and additional costs will be incurred as a result of the recently announced tennis restructuring, we believe that we will report a positive operating profit for the full year 2005."