Company Consolidates Fitness and Bicycle Divisions to

Build Brand Awareness, Synergy and Efficiency

Kent, WA — March 31, 2008 — Diamondback Fitness, Inc. announced today that the company will be integrated into the Diamondback bicycle division and headquartered in the Kent, WA, office of parent company Raleigh America, Inc. Raleigh’s America’s President Steve Meineke will be managing the fitness division. Steve Lindenau will assist with this transition while pursuing another career opportunity.

“I feel like we’re coming home — which is fitting for cardio equipment,” said Bill Austin, chairman of Raleigh America, Inc. “Steve Meineke’s leadership in the bicycle division has led to consistent wins for our dealers, their customers and our employees. Sales, quality, value, service… he and his team consistently deliver. We are confident that Steve will work that same muscle in the fitness division and are thrilled he’s taking it on.”

Diamondback Fitness was founded as a brand extension of the legendary 30-year Diamondback bicycles division in 1991. The evolution of bicycles to home gyms for cross-training purposes and to stay fit in inclement weather was a natural. Diamondback Fitness, known for delivering feature-packed, high-value equipment, has grown to a full line of cardio equipment including treadmills, ellipticals and stepper, as well as bikes, including innovative step-thru recumbents.

“The Diamondback brand resonates ‘awesome coolness’ with both the Boomers who grew up with them and the young, hip crowd riding them in ever-increasing numbers today. We look forward to building on that brand strength on the fitness side of the business,” said Meineke. “We are dedicated to a seamless transition for our valued dealers and their customers. And we look forward to unveiling the new line at the Health and Fitness Expo. It’s packed with that same ‘awesome coolness’ you see in our bikes.”

The Diamondback Fitness management team, led by Meineke, includes Eric Gottesfeld as Director of Operations and Greg Ford as National Sales Manager. The company’s relocation to Kent, a suburb of Seattle, will be completed during the second quarter of 2008. The new company address will be: Diamondback Fitness, Inc. 6004 S. 190th Street, Suite 101, Kent, WA 98032. The toll-free number and email addresses will remain unchanged.

The 2009 “Meet Your New Diamondback” fitness line, which will reflect the legendary Diamondback branding and image, will debut at the Health + Fitness Business Expo + Conference held in Denver, Co, July 18-19. For more information: www.healthandfitnessbiz.com

Please contact Jordan Benshea at 800.776.7642 x503 with any questions.