True Temper Sports, Inc.
Code of Ethics for Financial Professionals

The True Temper Sports, Inc. (“True Temper” or the “Company”) Code of Ethics for Financial Professionals (“Code of Ethics”) applies to the Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and other senior financial professionals at the Company (“Financial Professionals”)

True Temper expects all of its employees to (i) act in accordance with the highest standards of personal and professional integrity in all aspects of their activities, (ii) to comply with all applicable laws rules and regulations, (iii) to deter wrongdoing, and (iv) to abide by the overall True Temper code of conduct and other policies and procedures that govern the conduct of its employees. This Code of Ethics is intended as a supplement to the Company’s overall code of conduct and other policies and procedures, and is intended to govern the actions of its Financial Professionals.

As a Financial Professional at True Temper, you agree to:

1. Engage in and promote honest and ethical conduct, including handling of actual or apparent conflicts of interest between personal and professional relationships;
2. Avoid conflicts of interest and disclose to an appropriate Officer od Director of the Company, or to the Audit Committee of the Board of Directors, any material transaction or relationship that reasonably could be expected to give rise to such a conflict;
3. Take all reasonable measures to protect the confidentiality of material, non-public information about the Company and its customers, and to prevent the unauthorized disclosure of such information unless required by applicable law or legal regulatory process;
4. Produce full, fair, accurate, timely and understandable disclosures in reports and documents that True Temper files with, or otherwise submits to, the Securities and Exchange Commission and/or other regulatory bodies, or in other public communications made by the Company;
5. Promptly bring to the attention of an appropriate Officer or Director of the Company, or the Audit Committee of the Board of Directors, any information concerning (i) significant deficiencies in internal controls over financial reporting which could adversely affect the Company’s ability to record, process, summarize and report accurate financial data, or (ii) and fraud, without regard to materiality, that involves individuals who have a significant role in financial reporting, disclosures or internal controls;
6. Comply with applicable governmental laws, rules and regulations; and
7. Promptly report and possible violators of this Code of Ethics to an appropriate Officer or Director of the Company, or to the Audit Committee of the Board of Directors.

In addition, you are prohibited from directly or indirectly taking action to fraudulently influence, coerce, manipulate or mislead the Company’s independent public auditors for the purpose of rendering the financial statements of True Temper misleading.

You understand that you will be held accountable for your adherence to this Code of Ethics. Your failure to observer the terms of this Code of Ethics may result in disciplinary action, up to and including termination of employment. Violations of this Code of Ethics may also constitute violations of law and may result in civil and/or criminal penalties to you, your supervisors and/or True Temper.

If you have any questions regarding the best course of action in a particular situation, you should promptly contact an appropriate Officer or Director of the Company, or the Audit Committee of the Board of Directors. You may choose to remain anonymous in reporting any possible violations of this Code of Ethics.

Adopted by the Audit Committee
March 2005