SmartWool Receives Local Philanthropic Award for Business Practices

Steamboat Springs, CO, July 31st, 2008 — SmartWool, Inc. was recently recognized as “Business Philanthropist of the Year” by the Yampa Valley Community Foundation. The award was accepted at the 11th Annual Celebration of Philanthropy Dinner ceremony honoring local individual, youth and business philanthropists for their vision, contribution and broad impact on the community.

“We are honored to receive this distinction from the Yampa Valley Community Foundation. It’s wonderful to be a part of a community that is home to so many fantastic non-profit organizations that really do make a difference in people’s lives,” states Mark Bryden, SmartWool President. “With so many opportunities, the giving part is easy and it feels good.”

SmartWool is committed to leaving “a smart footprint” on the planet for future generations. An example of this commitment is the company’s policy to provide 40 hours of paid leave per year for each full-time employee to volunteer their time for a nonprofit organization. In 2007, SmartWool employees volunteered 1,000 hours in their community. In addition, once a year the office is closed for a community service clean-up day, which was recently held at Hinman Campground in North Routt.

“We are proud to recognize and honor SmartWool, a company that actually lives the philosophy they promote to effect positive change in the world. They generously contribute funds, products, as well as the valuable time of their employees to help nonprofits and worthy causes in our community and beyond,” states Betsey Jay, Executive Director of the Yampa Valley Community Foundation. “They really ‘walk the talk’, which is pretty cool for a company that makes socks and so much more.”

In addition to product donations, SmartWool also contributes ten percent of every website order to the Advocacy Fund. The advocacy program is comprised of two separate funds and financed by separate revenue sources. The SmartWool Advocacy Program is funded by a percentage of net sales of SmartWool® products sold on www.smartwool.com. Additionally, a percentage of net sales from SmartWool “Pink Ribbon” socks go to the SmartWool Breast Cancer Fund. Since its inception four years ago, the SmartWool Advocacy Program has donated monetary as well as products in-kind to deserving non-profit organizations. A group comprised of SmartWool employees makes the final decisions on which worthy causes receive donations.