VF Outdoor, Inc. Breaks Ground at New Global Headquarters in Alameda,

ALAMEDA, Calif. —May 3, 2011 — VF Outdoor, Inc., a subsidiary of VF Corporation (NYSE: VFC), today announced the The North Face, JanSport and lucy brands’ corporate headquarters move to Alameda, Calif.; scheduled for a Summer 2012 open. Groundbreaking ceremonies are set to take place today at the 11-acre site in Alameda, located at 2701 Harbor Bay Parkway.

The campus in Alameda will be four buildings totaling 160,000 sq. feet and will overlook San Francisco Bay, with access to running trails and public transportation, including Ferry services to San Francisco within one mile of the new headquarters. VF Outdoor also has the option to purchase adjacent land to expand the campus in the future.

“With this new campus we intend to create a space that will both energize our employees as well as accurately reflect our brands,” said Steve Rendle, vice president, VF Corporation and group president, Outdoor & Action Sports Americas. “Each of these brands are innovative, collaborative and, most of all, passionate about the outdoors, travel, and athletics. It is important that this new office setting complement our approach to both work and recreation while accommodating our future growth.”

The VF Outdoor Headquarters, seeking LEED Gold status, will utilize both wind and solar powered features, including wind turbines and photovoltaic panel sun shades, and a highly innovative and energy efficient HVAC design using no compressors or refrigerants. Plans also include external decks, open green outdoor meeting spaces, an organic vegetable garden and allotted space for outdoor recreation.

“We are being thoughtful in considering both the big and small details, from the current geographic landscape of our employee base, to the overall design concept of blending the indoors with the outdoors, construction materials, and choices for walls, desks, idea labs and meeting rooms.” added Rendle. “This campus will epitomize the brands’ outdoor ethos and dedication to our employees and the local community.”

“This is a tremendous milestone for the City of Alameda,” added Mayor Marie Gilmore. “Similar to VF Outdoor and the brands, we are extremely focused on renewable energy, economic development and long term sustainability. We couldn’t be happier to welcome VF Outdoor and its brands to our community.”

Attendees expected to be on hand for the May 3 event include Alameda City Mayor Marie Gilmore, City Council Members Lena Tam, Rob Bonta, Beverly Johnson and Doug deHann. Acting City manager Lisa Goldman and Planning Board President Marylin Ezzy Ashcraft are also expected to attend.
Currently located in and around San Francisco’s East Bay area, the three companies have experienced strong growth, citing a 14 percent increase over three years. VF Outdoor will work in partnership with leading Bay Area developer, SRM Associates and PCCP, LLC to develop the new build-to-suit campus.

“We are happy to be working with VF Outdoor and its brands to develop this new state of the art, highly energy efficient facility,” said Joe Ernst, principal for SRM Associates. “Both the City of Alameda and the companies have a unique focus on the outdoors and innovation, a perfect fit for this waterfront property at Harbor Bay.”

About lucy®
lucy activewear designs and sells fashion forward performance apparel for athletic women. Over the past ten years, the lucy® brand has grown from lucy.com, an online-only retailer, to a national bricks-and-mortar chain operating 61 stores. In August of 2007, VF Corporation, a global leader in lifestyle branded apparel, completed its acquisition of lucy activewear, Inc. As a result, lucy® is now a wholly owned subsidiary of VF Corporation. www.lucy.com

About JanSport®
JanSport, a division of VF Outdoor, Inc., was founded in 1967 in Seattle, Washington, by three pioneers in the outdoor industry. Though the Company began by manufacturing and marketing world-class outdoor backpacks, today the product offering includes technical outdoor gear, daypacks, travel gear, and collegiate decorated apparel, sold in sporting goods stores, college bookstores, department stores, and specialty and boutique retail locations throughout the world. The Brand has the spirit of fun and discovery, represented in the Brand tagline: Discover Freedom. For more information, visit www.jansport.com.

About The North Face®
The North Face, a division of VF Outdoor, Inc., was founded in 1968. Headquartered in San Leandro, California, the company offers the most technically advanced products in the market to accomplished climbers, mountaineers, snowsport athletes, endurance athletes, and explorers. The company’s products are sold in specialty mountaineering, backpacking, running, and snowsport retailers, premium-sporting goods retailers, and major outdoor specialty retail chains. For more information, visit www.thenorthface.com.

About SRM Associates
SRM, a privately held firm headquartered in Alameda, CA, is a full service real estate development company focusing on urban infill development. Founded in 1992, SRM has regularly been ranked as one of the leading commercial developers in the Bay Area with a reputation for build-to-suit projects. Since inception SRM has entitled, developed and/or acquired of over 8 million square feet of commercial property throughout the Bay Area, having a portfolio value in excess of $2 billion.

About PCCP, LLC
PCCP is a premier real estate private equity firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion under management in multiple closed-end funds and joint ventures with institutional investors. With 33 investment professionals and 55 employees across four offices located in New York, San Francisco, Sacramento and Los Angeles, PCCP invests throughout the United States.

SRM Associates (www.srmassociates.com) and PCCP, LLC (www.pccpllc.com) joined forces in 2003 to market and develop The Waterfront at Harbor Bay. For more information about the Waterfront at Harbor Bay, visit www.TheWaterfrontHB.com.