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In Sudden Move, Nautilus Group Names New CEO

Gregg Hammann brought in from outside to be new president and CEO; outgoing CEO, Brian Cook, will remain with the company as chairman. Mr. Hammann has a strong background with super brands such as Coca-Cola and Levis. The darling of Wall Street has gone south.

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Vancouver, WA -- Probably in an effort to quiet its shareholders after bouncing off a 3-year low in its stock price, Nautilus Group, formerly Direct Focus of Bowflex fame and darling of Wall Street, yesterday made a sudden change at the helm.

No longer a single infomercial-based product, but now after an acquisition spree it has become a multi-brand and multi-consumer segment company, so Nautilus brought in an outsider that is highly skilled in brand development and marketing.

From Coca-Cola to Bowflex

Yesterday Gregg Hammann started his job as president and CEO. After receiving his tutelage at marketing behemoth, Proctor & Gamble, he has been a fast riser at both Levi Strauss and Coca-Cola, two of the strongest brands in America. (He most recently held a senior management positions at McLeodUSA, a telecommunications services provider).

 Gregg Hammann The Nautilus Group Board of Directors said in a formal statement: "We have continuously added expertise to management as Nautilus has grown over the years. We are confident that Gregg Hammann as our Chief Executive Officer will deliver the leadership and vision necessary to further build and expand our business and drive shareholder value. Our Company has accomplished a great deal over the last 17 years during Brian Cook's tenure. The Company's leadership position in the fitness and healthy lifestyle markets and financial strength are a true testament to the strength of our organization and Brian's leadership and vision during this time period. The Company has evolved from a one-product company with virtually no sales to a company with sales in excess of $500 million distributing the leading brand names in health and fitness through multiple distribution channels."

The Board of Directors continued, "Gregg has a strong and successful record of working with consumer branded products, and he brings very valuable skill sets, particularly in the areas of leadership, strategy, brand management and customer focus. His enthusiasm for the underlying strength and potential of our brands and products, coupled with his marketing and branding expertise, makes us very excited about the future of The Nautilus Group under his leadership."

"The Nautilus Group is a leader in the fitness industry, with its portfolio of brands, strong balance sheet and no debt the company is in a great position to lead industry growth," said Gregg Hammann. "I am excited to lead Nautilus and build upon its strong position in the industry. I believe the Nautilus Group has tremendous potential for profitable growth. This potential and the strong management team, positions our company to capture this growth."

Outgoing CEO, Brian Cook, Will Remain With the Company as Chairman

Brian Cook concluded, "I am very excited to have Gregg leading our Company. I believe his experience in the marketing of multiple consumer branded products is exactly what our Company needs at this important juncture. I look forward to helping him make this a seamless transition for the Company."

About The Nautilus Group

The Nautilus Group, Inc. (formerly Direct Focus, Inc.) is a marketer, developer, and manufacturer of branded health and fitness products sold under Nautilus, Bowflex, Schwinn and StairMaster. The Company currently markets its Bowflex home fitness equipment and Nautilus Sleep Systems. The Company sells its Nautilus, Schwinn and StairMaster commercial fitness equipment through its sales force and selected dealers to health clubs, government agencies, hotels, corporate fitness centers, colleges, universities, and assisted living facilities. The Nautilus Group also markets and sells a complete line of consumer fitness equipment, under its Nautilus, Schwinn and StairMaster brands, through a network of specialty dealers, distributors, and retailers worldwide. The Company is headquartered in Vancouver, Washington. The Nautilus Group is located on the Web at www.nautilusgroup.com

Posted: 07/20/2003

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