Quiksilver, Inc. Updates First Quarter Outlook

HUNTINGTON BEACH, Calif.--(Business Wire)--Quiksilver, Inc. (NYSE: ZQK) today announced that it has revised
its expectations for the first fiscal quarter, due to both softer than
expected reorders for wintersports equipment and a challenging global
retail environment. The Company had previously expected a small loss
in the first quarter. The Company now expects a first quarter fiscal
2008 loss per share of between $0.09 and $0.12.

Robert B. McKnight, Jr., Chairman of the Board and Chief Executive
Officer of Quiksilver, Inc., commented, "Our first quarter is proving
to be more difficult than anticipated. The holiday season has
demonstrated broad-based weakness at retail which has affected our
wider business, including our company-owned stores both in the United
States and in Europe. Additionally, wintersports retailers appear to
be taking the opportunity brought about by good ski conditions in all
major markets to clear the channel of inventory and achieve liquidity
and are therefore delaying reorders. In anticipation of continuing
weakness in consumer spending, we are taking incremental action to
reduce expenses and discretionary capital spending, in order to
maximize free cash flow and reduce debt levels."

The Company further noted that it intends to, if necessary, update
its full year outlook when it reports first quarter results in March.

In addition, following the successful sale of Cleveland Golf in
December 2007, the Company is reviewing alternatives with respect to
its other equipment businesses, including possible sales, and has
hired JPMorgan to assist with this process.

Quiksilver also announced today that the Company will be
presenting at the 10th Annual ICR XChange Conference. The Quiksilver
investor presentation will be webcast live at 10:05 a.m. Pacific Time
on January 16, 2008. The broadcast will be hosted at
www.quiksilver.com/investor.

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, wintersports equipment, 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, while its
wintersports brands symbolize a long standing commitment to technical
expertise and competitive success on the mountains.

The reputation of Quiksilver Inc.'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 Rossignol, Dynastar, Lange, and
Look brands are leaders in the alpine ski market, and the Company
makes snowboarding equipment under its Rossignol, Dynastar, DC, Roxy,
Lib Technologies, Gnu and Bent Metal labels.

The Company's products are sold in over 90 countries in a wide
range of distribution, including surf shops, ski shops, skateboard
shops, snowboard shops, its proprietary Boardriders Club shops, 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 and St. Jean de
Moirans, France, and its Asia/Pacific headquarters are in Torquay,
Australia.

Forward looking statements:

This press release contains forward-looking statements including
but not limited to statements regarding the Company's financial
forecast and other future activities. These forward-looking statements
are subject to risks and uncertainties, and actual results may differ
materially. Please refer to Quiksilver's SEC filings for more
information on the risk factors that could cause actual results to
differ materially from expectations, specifically the sections titled
"Risk Factors" and "Forward-Looking Statements" in Quiksilver's Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q.

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.dcshoecousa.com, www.quiksilveredition.com,
www.hawkclothing.com, www.rossignol.com, and www.dynastar.com.

Quiksilver, Inc.
Joe Scirocco
Chief Financial Officer
714-889-2200
or
Investor Relations:
Integrated Corporate Relations
Chad A. Jacobs, Joe Teklits
203-682-8200

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