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lululemon athletica inc. Stockholders Approve a Two-for-One Stock Split

6/9/2011

VANCOUVER, British Columbia--(BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU; TSX:LLL) today announced that its stockholders approved a two-for-one stock split of the Company's Common Stock at its annual meeting held on June 8, 2011, along with approving a corresponding increase in the number of shares of Common Stock authorized for issuance. The stock split will become effective upon the filing of an amendment to the Company's Certificate of Incorporation with the Secretary of State of the State of Delaware without any further action on the part of lululemon's stockholders. The Company expects to file the amendment to its Certificate of Incorporation the week of June 20, 2011. Shares of lululemon Common Stock are expected to trade on the Nasdaq Stock Market and the Toronto Stock Exchange on a post-split basis commencing two days prior to the record date for the stock split, which will be approximately ten trading days following the filing of the amended Certificate of Incorporation. Each shareholder of record as of the record date will receive two shares of Common Stock for each such share of stock held by the shareholder as of that date.

Following the effectiveness of the stock split, the Company will have approximately 108 million shares of Common Stock issued and outstanding.

About lululemon athletica inc.

lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic apparel company that creates components for people to live a long, healthy and fun life. By producing products that help keep people active and stress free, lululemon believes that the world will be a better place. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com.

Forward-Looking Statements:

Certain statements in this release, including without limitation the consummation, effectiveness and completion of the stock split and the timing thereof and statements regarding lululemon's business strategy are "forward-looking statements" within the meaning of the rules and regulations of the SEC. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including without limitation (i) the successful consummation and completion of the stock split, including the required stock exchange and related notices and requirements, and (ii) the precautionary statements included in lululemon's filings with the SEC, including without limitation the "Risk Factors" section of lululemon's 2010 Form 10-K. Although the Company expects to file the amendment to its Certificate of Incorporation to effect the stock split as soon as practicable, the exact timing of this filing will be determined by the Company's board of directors based on its evaluation as to when and if such action will be the most advantageous to the Company and its stockholders. The board of directors reserves the right, notwithstanding stockholder approval and without further action by the stockholders, to elect not to proceed with the stock split if, at any time prior to filing the amendment to the Certificate of Incorporation, the board of directors, in its sole discretion, determines that it is no longer in the best interests of the Company and its stockholders to proceed with the stock split.

Investor:
ICR, Inc.
Joseph Teklits/Jean Fontana, 203-682-8200
or
Media:
ICR, Inc.
Alecia Pulman, 203-682-8224

Source: lululemon athletica inc.

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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding lululemon athletica inc (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.