The North Face Explores Innovative Method for International Giving

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NEWS RELEASE

SAN LEANDRO, CA (May 26, 2004) — The North Face announced today that it has signed an agreement with GlobalGiving to fund and promote community-based development projects overseas. The North Face sponsors as many as five expeditions a year, sending world class athletes to remote international destinations. Through GlobalGiving, The North Face will be able to identify and fund social and economic development projects in the regions where these expeditions take place.

Founded by former World Bank executives, GlobalGiving is the emerging marketplace for international aid. It directly connects social entrepreneurs in the developing world with individuals and institutions that have an interest in funding social and economic development projects.

"GlobalGiving provides an exciting new opportunity that streamlines international aid," said Letitia Ferrier, Strategic Marketing Manager at The North Face. "Through this partnership, The North Face funding will go directly to high-impact development projects overseas. This allows us to directly give back to the communities and regions where we send our athletes to explore."

Through The GlobalGiving Philanthropic Expedition Program, The North Face will make a donation to a local charity in the region of an expedition for every 1,000 feet The North Face athletes climb on a company sponsored expedition. In 2004, the company has planned expeditions to Latok, Pakistan where Willie and Damien Benegas will attempt an alpine-style first assent; La Esfinge, Peru where Scott Corey, age 14, will free climb a 2,100 foot big wall; and the Himalayas where Pete Athans will work with the Himalayan Cataract Project and attempt to climb the highest unclimbed peak in the region (7,400 meters). For more information on The North Face athletes and expeditions, visit www.thenorthface.com.

In addition to corporate giving, GlobalGiving (www.globalgiving.org) and The North Face (www.thenorthface.com) will highlight these projects on their Web sites, providing an opportunity for anyone to consider contributing to the program. "If nothing less than just letting the public know about this incredible project, we are truly putting 'our money where are feet are.'" Explains Ferrier. "We look forward to working with GlobalGiving more and expanding the program into potential marketing and retail programs."

"The North Face has been a leader in high-performance mountaineering apparel and equipment for decades," said Dennis Whittle, co-founder and CEO of GlobalGiving. "We are pleased that they continue to explore leading-edge technology - not only in their product lines, but also in their corporate social responsibility."

Individuals are encouraged to join The North Face in its support of community development work overseas. As projects are selected, additional information will be available on both www.thenorthface.com and www.globalgiving.org.

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About The North Face®

The North Face, a subsidiary of VF Corporation, was founded in 1966. Headquartered in San Leandro, California, the company offers the most technically advanced products in the market to accomplished climbers, mountaineers, extreme skiers and explorers. The company's products are sold in specialty mountaineering, backpacking and skiing retailers, premium-sporting goods retailers and major outdoor specialty retail chains. Additional information about The North Face can be found on the company's Web site, www.thenorthface.com.

About Globalgiving

GlobalGiving is the emerging marketplace for international aid. It directly connects social entrepreneurs in the developing world with individuals, corporations, and institutions that have an interest in funding social, environmental, and economic development projects. Founded in 2000 by two ex-World Bank executives, GlobalGiving is growing the overall development market by engaging donors and social entrepreneurs who have historically been marginalized by the international aid system. GlobalGiving has partnerships with Visa International and Hewlett-Packard and has received financial support from the Skoll, Omidyar, Sall, William and Flora Hewlett, Mott, Kellogg and Calvert Foundations, as well as USAID. For more information, please see www.globalgiving.org.

The North Face Contact


510.347.3447

GlobalGiving Contact

Joan Ochi
Director of Marketing Communications


Phone: 202-232-5784
Toll Free: 1-877-605-2314
Fax: 202-315-2558