BEAVERTON, Ore.--(BUSINESS WIRE)--Sept. 22, 2008--NIKE, Inc. (NYSE:NKE) today announced that its Board of Directors has approved a new four-year, $5 billion program to repurchase shares of Nike's Class B Common Stock. The new program will commence upon the completion of the Company's current $3 billion share repurchase program.

"We are pleased to extend Nike's track record of returning value to shareholders through sustained share repurchases," said Mark Parker, NIKE, Inc. President and CEO. "Over the past 10 years, NIKE, Inc. has returned $5.5 billion to shareholders through the repurchase of more than 157 million shares. This new share repurchase program demonstrates our continued confidence in Nike's long-term growth prospects and financial strength."(1)

Repurchases under NIKE, Inc.'s new program will be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors. This share repurchase plan does not obligate NIKE, Inc. to acquire any particular amount of common stock, and it may be suspended at any time at the Company's discretion. NIKE, Inc. had approximately 492.4 million shares of Class B Common Stock outstanding as of August 31, 2008.

About NIKE, Inc.

NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned Nike subsidiaries include Cole Haan, which designs, markets and distributes luxury shoes, handbags, accessories and coats; Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories; and Umbro Ltd., a leading United Kingdom-based global football (soccer) brand. For more information, visit www.nikebiz.com.

(1) The marked paragraph contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by Nike with the S.E.C., including Forms 8-K, 10-Q, and 10-K. Some forward-looking statements in this release concern changes in futures orders that are not necessarily indicative of changes in total revenues for subsequent periods due to the mix of futures and "at once" orders, exchange rate fluctuations, order cancellations and discounts, which may vary significantly from quarter to quarter, and because a significant portion of the business does not report futures orders.

CONTACT: NIKE, Inc.
Pamela Catlett, 503-671-4589 (Investors)
Kellie Leonard, 503-671-6171 (Media)

SOURCE: NIKE, Inc.