KRYPTONITE OFFERING FREE UPGRADE WORLDWIDE FOR CONSUMERS' HIGH END TUBULAR CYLINDER LOCKS

Canton, MA September 17, 2004 - Kryptonite today announced it will provide free product upgrades for certain locks purchased since September 2002, in response to consumer concerns about tubular cylinder lock technology. Consumers can visit the company's Website (www.kryptonitelock.com) on Wednesday afternoon, September 22, 2004, to learn how they can participate in the security upgrade program.

Consumers who have purchased an Evolution lock, KryptoLok lock, New York Chain, New York Noose, Evolution Disc Lock, KryptoDisco or DFS Disc Lock in the last two years are eligible for a product upgrade free of charge from Kryptonite. Customers will need to have either registered their key number, registered for the Kryptonite anti-theft protection offer or have proof of purchase to qualify.

Specifically, Kryptonite will provide for free cross bars featuring the company's new disc-style cylinder lock technology to consumers who have purchased Evolution and KryptoLok series products. In addition the company will replace for free recently purchased Evolution Disc Locks on New York Chain and New York Noose with its "Molly Lock", a heavy duty solid steel padlock. Kryptonite also will upgrade recently purchased disc locks.

Consumers who have had one of the Kryptonite locks mentioned with a tubular cylinder for longer than two years will be eligible for a sizeable rebate on the upgraded products. This program will be administered through Kryptonite dealers and distributors.

A distributor and dealer swap program will be rolled out through direct communication from Kryptonite to all its partners.

Full details about this unprecedented program will be available on Kryptonite's website by afternoon Eastern Standard Time, Wednesday, September 22, 2004, at www.kryptonite.com