EXHIBIT 99.1
     K-Swiss and National Geographic Terminate License Agreement

    WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Dec. 22, 2003--K-Swiss
Inc. (NASDAQ/NM: KSWS) today announced it has agreed with National
Geographic to end their license agreement to develop and market a
collection of National Geographic outdoor-oriented and casual
footwear.
    Steven Nichols, Chairman of the Board and President, stated,
"National Geographic and K-Swiss have amicably agreed to dissolve
their partnership for branded footwear. Although the initial reaction
to the National Geographic line was well received by retailers and
media, it turned out that attempting to implement this business
strategy in the post-9/11 retail marketplace proved to be
unfortunately timed. We wish National Geographic future success in all
endeavors."
    The Company had previously accrued $4.3 million for anticipated
royalty payments otherwise payable to National Geographic through
December 31, 2005. During the fourth quarter of 2003, the Company
expects to reverse $2.3 million of this pre-tax accrual and close its
National Geographic operations. As a result, the Company's financial
results for the fourth quarter will include an after-tax benefit of
approximately $0.03 per diluted share on a split-adjusted basis.
    K-Swiss Inc. designs, develops and markets an array of athletic
footwear for high performance sports use, fitness activities and
casual wear under the K-Swiss brand. The Company also designs and
manufactures footwear under the Royal Elastics brand. Royal Elastics,
a wholly owned subsidiary, is the leading innovator of slip-on,
laceless footwear.
    Certain matters discussed in this press release are subject to
certain risks and uncertainties that could cause actual results to
differ materially, including, but not limited to: non-achievement of
the assumptions discussed herein, general and regional economic
conditions, industry trends, merchandise trends, including market
acceptance of the Company's training shoe and new Limited Edition
lines, and Royal Elastics brand, market acceptance of the Company's
casual product in Europe, customer demand, competition, the impact of
terrorism and/or a potential global conflict on the worldwide economy,
dependence on large customers and credit concentrations and order
cancellations and reduced sales resulting from a slower worldwide
economy. A complete description of these factors, as well as others
which could affect the Company's business, is set forth in the
Company's periodic filings, including its Form 10-Q for the quarter
ended September 30, 2003, which is currently on file with the SEC.

    CONTACT: K-Swiss Inc.
             George Powlick, 818-706-5100