FIRST AMENDMENT TO CREDIT AGREEMENT


                       Dated as of November 16, 2001

                                 among

                                 NIKE, INC.,
                            as the Borrower,

                          BANK OF AMERICA, N.A.,
                         as Administrative Agent,

                           CITICORP USA, INC.,
                          as Syndication Agent,

                             BANK ONE, NA,
                            HSBC BANK USA,
                                 and
                     THE BANK OF TOKYO-MITSUBISHI, LTD.

                        as Co-Documentation Agents,

                                  and

                          THE BANKS PARTY HERETO



                Joint Lead Arrangers and Joint Book Managers:

                       BANC OF AMERICA SECURITIES LLC
                                   and
                         SALOMON SMITH BARNEY INC.


                              NIKE, INC.
                            FIRST AMENDMENT
                           TO CREDIT AGREEMENT
                            (364-Day Facility)
     This FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is dated as
of November 16, 2001 and entered into by and among NIKE, Inc. (the
"Borrower"), the financial institutions listed on the signature pages hereof
(the "Facility B Banks"), Bank of America, N.A., as Administrative Agent,
Citicorp USA, Inc., as Syndication Agent, Bank One, N.A., HSBC Bank USA, and
The Bank of Tokyo-Mitsubishi, Ltd., as Co-Documentation Agents, and is made
with reference to that certain Credit Agreement dated as of November 17, 2000
(as amended or otherwise modified up to the date hereof, the "Credit
Agreement"), by and among the parties thereto.  Capitalized terms used herein
without definition shall have the same meanings herein as set forth in the
Credit Agreement.

                                  RECITALS

     WHEREAS, the Borrower and the Facility B Banks desire to amend the Credit
Agreement (a) to extend the Facility B Termination Date for an additional 364
day period, (b) adjust the Facility B Commitments, and (c) amend the
definition of "Applicable Facility Fee Rate" with respect to the Facility B
Commitments and amend the definition of "Applicable Margin" with respect to
the Facility B Loans;

     NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as
follows:

Section 1.     AMENDMENTS TO THE CREDIT AGREEMENT

1.1     Amendments to Article I:  Definitions

          A.     Section 1.1 of the Credit Agreement is hereby amended by
deleting in the definition of "Applicable Facility Fee Rate" the Facility B
Commitments column and substituting in lieu thereof the following:

               "Applicable Rating          Facility B Commitments
                     Level
               __________________          ______________________
                     Level I                        5.0
                     Level II                       5.0
                     Level III                      6.0
                     Level IV                       8.0
                     Level V                        8.0
                     Level VI                       8.0"

          B.     Section 1.1 of the Credit Agreement is hereby further amended
by deleting in the definition of "Applicable Margin" the Facility B Loans
column and substituting in lieu thereof the following column:

               "Applicable Rating          Facility B Loans
                     Level
               __________________          ________________
                     Level I                    17.5
                     Level II                   17.5
                     Level III                  24.0
                     Level IV                   32.0
                     Level V                    32.0
                     Level VI                   32.0"

          C.     Section 1.1 of the Credit Agreement is hereby further amended
by deleting, in the definition of Facility B Termination Date the date
"November 16, 2001" and substituting in lieu thereof the date "November 15,
2002".

          D.     Section 2.4.1 of the Credit Agreement is hereby amended by
adding "and the letter agreement dated October 8, 2001" after the reference to
October 5, 2000.
1.2     Substitution of Schedule.

        Schedule 3 to the Credit Agreement is hereby amended by deleting the
page providing Facility B Commitments in said Schedule 3 in its entirety and
substituting in place thereof Facility B Commitments in the form of Annex I to
this Amendment.

Section 2.     CONDITIONS TO EFFECTIVENESS

        This Amendment shall become effective on November 16, 2001 upon
receipt by the Administrative Agent of all of the following, in form and
substance satisfactory to the Administrative Agent (the date of satisfaction
of such condition being referred to herein as the "First Amendment Effective
Date"):

              A.     Amendment.  This Amendment executed by each party hereto;

              B.     Incumbency Certificate.  A certificate of the Secretary
or Assistant Secretary of the Borrower, certifying the names and true
signatures of the officers of the Borrower authorized to execute, deliver and
perform, as applicable, this Amendment, and all other Loan Documents to be
delivered by it hereunder;

              C.     Payment of Fees.  Evidence of payment by the Borrower of
all accrued and unpaid fees, costs and expenses to the extent then due and
payable on the First Amendment Effective Date, together with Attorney Costs of
Bank of America to the extent invoiced prior to or on the First Amendment
Effective Date; provided that, notwithstanding the above, such payment by the
Borrower shall include all accrued and unpaid facility fees with respect to
the Facility B Commitments through the First Amendment Effective Date;

              D.     Banks' Participation Fee.  Payment by the Borrower to the
Administrative Agent, for the account of each of the Facility B Banks as set
forth on Schedule 3 to the Credit Agreement, the Facility B Commitments of
which are attached as Annex I to this Amendment, in accordance with their
respective pro rata shares, a participation fee in an amount set forth in a
separate letter agreement between the Borrower, Bank of America and Banc of
America Securities LLC.

              E.     Borrower Certificate.  A certificate signed by an
authorized officer of the Borrower, dated as of the First Amendment Effective
Date, stating that:

                     (i)     the representations and warranties contained in
        Section 3 hereof and in Article V of the Credit Agreement are true and
        correct on and as of such date, as though made on and as of such date,
        except for changes in the Schedules hereto reflecting transactions
        permitted by this Agreement;

                     (ii)    no Default or Unmatured Default exists; and

                     (iii)   since August 31, 2001, there has been no change
        in the business, properties, condition (financial or otherwise) or
        results of operations of the Borrower and its Subsidiaries which could
        have a Material Adverse Effect.

Section 3.     BORROWER'S REPRESENTATIONS AND WARRANTIES

     In order to induce the Facility B Banks to enter into this Amendment and
to amend the Credit Agreement in the manner provided herein, the Borrower
represents and warrants to each Facility B Bank that the following statements
are true, correct and complete:

              A.     Authorization of Agreements.  The execution and delivery
of this Amendment and the performance of the Credit Agreement as amended by
this Amendment (the "Amended Agreement") have been duly authorized by all
necessary corporate action on the part of the Borrower.

              B.     Binding Obligation.  This Amendment has been duly
executed and delivered by the Borrower and this Amendment and the Amended
Agreement are the legally valid and binding obligations of the Borrower,
enforceable against the Borrower in accordance with their respective terms,
except as enforceability may be limited by bankruptcy, insolvency or similar
laws affecting the enforcement of creditors' rights generally.

              C.     No Outstanding Facility B Advances.  No Facility B
Advances are outstanding as of the First Amendment Effective Date.

Section 4.     MISCELLANEOUS

              A.     Reference to and Effect on the Credit Agreement and the
Other Loan Documents.

                     (i)     On and after the First Amendment Effective Date,
        each reference in the Credit Agreement to "this Agreement",
        "hereunder", "hereof", "herein" or words of like import referring to
        the Credit Agreement, and each reference in the other Loan Documents
        to the "Credit Agreement", "thereunder", "thereof" or words of like
        import referring to the Credit Agreement shall mean and be a reference
        to the Amended Agreement.

                     (ii)    Except as specifically amended by this Amendment,
        the Credit Agreement and the other Loan Documents shall remain in full
        force and effect and are hereby ratified and confirmed.

                     (iii)   The execution, delivery and performance of this
        Amendment shall not, except as expressly provided herein, constitute a
        waiver of any provision of, or operate as a waiver of any right, power
        or remedy of the Administrative Agent or any Bank under, the Credit
        Agreement or any of the other Loan Documents.

                     (iv)    The Credit Agreement, as amended hereby, together
        with the other Loan Documents, embodies the entire agreement and
        understanding among the Borrower, the Banks and the Administrative
        Agent, and supersedes all prior or contemporaneous agreements and
        understandings of such Persons, verbal or written, relating to the
        subject matter hereof and thereof.

              B.     Fees and Expenses.  The Borrower acknowledges that all
costs, fees and expenses incurred by the Administrative Agent and its counsel
with respect to this Amendment and the documents and transactions contemplated
hereby shall be for the account of the Borrower.

              C.     Headings.  Section and subsection headings in this
Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose or be given any
substantive effect.

              D.     Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH (AND NOT THE LAW OF CONFLICTS) OF
THE STATE OF OREGON BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL
BANKS.

              E.     Counterparts.  This Amendment may be executed in any
number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages
are physically attached to the same document.

              IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed and delivered by their respective officers
thereunto duly authorized as of the date first written above.

                                        NIKE, INC., as the Borrower


                                        By: _______________________________
                                            Marcia A. Stilwell
                                            Treasurer

                                        One Bowerman Drive
                                        Beaverton, OR 97005-6453
                                        Attention: Marcia A. Stilwell,
                                        Treasurer
                                        Telephone: (503) 532-2100
                                        Facsimile: (503) 532-2616