NEW YORK (Standard&Poor's) June 25, 2004--Standard&Poor's Ratings Services said today that there would be no effect on NIKE Inc.'s (A/Stable/A-1) ratings or outlook following the announcement that the company's board of directors has authorized a new four-year $1.5 billion share repurchase program. During its fiscal 2004 fourth quarter ended May 31, 2004, NIKE completed its prior four-year $1 billion share repurchase program (approved in 2000). NIKE also reported strong fiscal 2004 fourth quarter and full-year financial results, continued to generate a significant amount of operating cash flows, and ended the year with $1.2 billion in cash and short-term investments, compared with $634 million in the previous fiscal year. Moreover, Standard&Poor's expects that the company's
