Microsoft Word - 20140908 Company Update - Surfstitch and Swell ASX ANNOUNCEMENT COMPANY UPDATE - SURFSTITCH AND SWELL GOLD COAST, 8 September 2014: On 21 August 2014 Billabong International Limited ("Company") announced that it had entered into binding documentation to sell its 51% stake in the multi-brand ecommerce businesses SurfStitch.com in Australia and Europe ("SurfStitch") and its 100% ownership of Swell.com in North America ("Swell") to a consortium of investors including SurfStitch founders Justin Cameron and Lex Pedersen.

The Company today announces that the sale of Surfstitch and Swell completed after market close on Friday, 5 September 2014 (AEST).
Media or investor related queries should be directed to Chris Fogarty on mobile
+61 420 928 824.

TRACEY WOOD

COMPANY SECRETARY

distributed by