Press Release June 02, 2005

Stride Rite to Acquire Saucony, Leading Athletic Footwear and Apparel Company

BOSTON, June 2, 2005 – The Stride Rite Corporation today announced that it has entered into a definitive agreement to acquire Saucony Inc., a leader in performance running shoes. The transaction value is approximately $170 million based on the current number of shares of Saucony's common stock outstanding and net option value.

The partner at Goodwin Procter who served as legal advisor to Stride Rite in this matter is Joseph Johnson.