The Board of Directors of NIKE Inc has declared a quarterly cash dividend of twenty three cents ($0.23) per share on the company's outstanding Class A and Class B Common Stock.

The 23-cent quarterly dividend, which is payable January 2, 2008 to shareholders of record at the close of business December 10, 2007, is a 24 percent increase over the previous quarterly rate of $0.185 per share.

"We are very pleased to increase our cash payout to shareholders for the sixth consecutive year"said Mark Parker, Nike, Inc. President and Chief Executive Officer. "Nike is a growth company with solid cash flow, a strong balance sheet and excellent long-term growth prospects.

Over the past five years, we have increased the dividend an average of 25 percent a year. Today's increase reflects our ongoing commitment to creating and delivering value for our shareholders."