Camelbak Names Nick Allen VP of Government, Military Div.

CAMELBAK PRODUCTS LLC NAMES NICK ALLEN VICE PRESIDENT OF GOVERNMENT, MILITARY & INDUSTRIAL DIVISION

PETALUMA, CALIF. (November 30, 2006) – CamelBak Products LLC, the world leader in hydration systems, today named Nick Allen as Vice President of its Government, Military and Industrial Division.

Allen has extensive experience including 19 years of Military/Government Market Development at W. L. Gore and 20 years service as an officer in the United States Marine Corps.

“We are thrilled to have Nick join CamelBak,” said Sally McCoy, CamelBak CEO. “While at Gore he was a leader in improving the safety, comfort and combat-readiness of military professionals through innovative products and services. We know he will bring the same dynamic and strategic leadership to CamelBak.”

Allen led W. L. Gore’s work to develop state-of-the-art gear for the men and women of the military. He worked closely with representatives and operators from each branch to identify requirements and solve unmet needs. “CamelBak is a well respected Brand with a long history of product innovation,” said Allen. “I am excited to join a dynamic team that has dedicated themselves to improving the lives of military and government professionals.”

Nick will retire from W. L. Gore at the end of December 2006 and will assume his position with CamelBak on January 2, 2007.

About CamelBak CamelBak Products, LLC. is the originator of the Hands-Free Hydration system. Since 1991, CamelBak’s state of the art packs and hydration systems have benefited athletes, outdoor enthusiasts, and military/government professionals around the world. CamelBak continues to deliver innovative hydration products to the market with the belief in the performance advantage that proper hydration can deliver in any situation. The company is a privately held portfolio company of Bear Stearns Merchant Banking (BSMB) and is headquartered in Petaluma, California.

About BSMB BSMB, the private equity affiliate of The Bear Stearns Companies Inc. (NYSE: BSC), invests private equity capital in compelling leveraged buyouts, recapitalizations and growth capital opportunities alongside superior management teams. BSMB focuses on making control or entrepreneur-driven investments, principally in middle-market retail, financial services and consumer products companies. Since its formation in 1997, BSMB has been an investor in over 50 portfolio companies. BSMB manages nearly $5 billion of private equity capital, including its new $2.7 billion institutional fund and capital dedicated to its affiliate, Bear Growth Capital Partners. Recent investments by BSMB include: ACA Capital Holdings, Balducci’s, CamelBak Products, Cavalry Investments, Churchill Financial Holdings, Dairyland, Everything But Water, Harlem Furniture, Multi Packaging Solutions, New York & Company (NYSE: NWY), Reddy Ice (NYSE: FRZ), Seven For All Mankind, Stuart Weitzman, Transamerican Auto Parts Company and Vitamin Shoppe. More information about BSMB can be found at www.bsmb.com.