WESTWOOD, Mass., March 18 /PRNewswire/ -- NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced today that it has been appointed by K2 Inc., Carlsbad, Calif., to manage the sports equipment maker’s $48 million, 2200-participant defined contribution plan.

Under this arrangement, NYLIM Retirement Plan Services will now provide K2 with recordkeeping, participant communications, investment management services, trust and investment consulting for its 401(k) plan.

"We chose NYLIM because we like their open architecture and the fact that they can customize communications to our plan participants," said Robert Moynan, director of corporate human resources at K2 Inc. "We were also very impressed that they have a background in ERISA consulting. This will be beneficial to us in fulfilling our fiduciary duties to the plan. The great culture fit between our two companies also counts for a lot."

"K2 is a trusted name in sporting equipment and we are glad that they have chosen NYLIM Retirement Plan Services, a trusted name in financial services, to manage their defined contribution plan," said Tom Clough, managing director of NYLIM Retirement Plan Services. "We look forward to many years of working together toward the mutual goal of a successful retirement for K2’s employees."

Marsh Inc. served as the consultant for K2 in choosing NYLIM Retirement Plan Services. Marsh Inc. is an operating unit of Marsh & McLennan Companies, Inc. (MMC), a global professional-services firm with more than 60,000 employees and annual revenues exceeding $11 billion.

About K2

K2 Inc. is a premier, branded consumer products company with a portfolio of leading brands including Rawlings(R), Worth(R), Shakespeare(R), Pflueger(R), Brass Eagle(R), Stearns(R), K2(R), Volkl(R), Ride(R), Marmot(R), ExOfficio(R) and Marker(R). K2’s diversified mix of products is used primarily in team and individual sports activities such as baseball, softball, fishing, paintball, watersports activities, alpine skiing, snowboarding, in-line skating and mountain biking. Among K2’s other branded products are Planet Earth(R) apparel, Adio(R) and Hawk(R) skateboard shoes, Tubbs(R) and Atlas(R) snowshoes, JT(R) and Worr Games(R) paintball products and Dana Design(R) backpacks.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services oversees more than 2,100 comprehensive defined contribution, defined benefit and deferred compensation plans as of December 31, 2004. With offices in Westwood, Massachusetts, and Parsippany, New Jersey, NYLIM Retirement Plan Services administers retirement programs for small, medium and large companies, multi-employer plans, and individuals throughout the United States, and is widely recognized for its leadership in bundled defined contribution and bundled defined benefit plans.

With more than $189 billion in assets under management as of December 31, 2004, New York Life Investment Management LLC and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients. NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments. For more information, visit NYLIM’s website at http://www.nylim.com/.

CONTACT: Sarah Lazarus of SSL Media Relations, +1-978-369-4478,
sarahlaz@worldnet.att.net

Web site: http://www.nylim.com/