"We are very pleased to have resolved this dispute and to begin working closely with Quiksilver to grow the action sports community and to further position the X Games as the premier destination for action sports," said Rick Alessandri, Senior Vice President & Managing Director, X Games Franchise.

Robert B. McKnight, Jr., Chairman of the Board, President and Chief Executive Officer of Quiksilver, Inc., added, "We are pleased that we are once again working together with ESPN to use our collective influence in promoting action sports around the world. It's clear that together we can make a bigger impact on the athletes and fans who, like us, participate in and follow action sports as a part of their lifestyle."

The terms and conditions of the settlement were not disclosed.

About Quiksilver:

Quiksilver, Inc. (NYSE:ZQK) is the world's leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories and related products. The Company's apparel and footwear brands represent a casual lifestyle for young-minded people that connect with its boardriding culture and heritage.

The reputation of Quiksilver's brands is based on different outdoor sports. The Company's Quiksilver, Roxy, DC and Hawk brands are synonymous with the heritage and culture of surfing, skateboarding and snowboarding, and its beach and water oriented swimwear brands include Raisins, Radio Fiji and Leilani.

The Company's products are sold in over 90 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders Club shops and other company-owned retail stores, other specialty stores and select department stores. Quiksilver's corporate and Americas' headquarters are in Huntington Beach, California, while its European headquarters are in St. Jean de Luz, France, and its Asia/Pacific headquarters are in Torquay, Australia.

About ESPN's X Games Franchise:

ESPN developed its X Games franchise in 1995. X Games, Winter X Games and All Access are just some of the original action sports programming currently shown on ESPN and ESPN2. In addition to the two U.S.-based events, ESPN has held X Games competitions and demonstration events around the world including Dubai, Thailand, Brazil, Mexico, Korea, Malaysia, China and Spain. The global franchise has also expanded its reach to ESPN.com/Action, the definitive site for action sports fans, and to consumer products such as X Games bikes, protective gear, skateboards and home entertainment.

NOTE: For further information about Quiksilver, Inc., you are invited to take a look at our world at www.quiksilver.com, www.roxy.com, www.dcshoes.com and www.hawkclothing.com.