TRUE TEMPER GROWTH CONTINUES

Memphis, TN - January 30, 1998 - With sales and unit volume increases in both their steel and composite product lines, True Temper Sports announced today that it dramatically exceeded company expectations in 1997. Sales of new products drove the results and accounted for 25% of total sales.

SensiCore® vibration damping products led the way in ‘97 with a threefold increase in both unit and sales volume to a record 2 million shafts in 18 months. “The success of the SensiCore® product line is a testament to True Temper’s commitment to bring new and innovative products to the golf industry,” says Scott Hennessy, President of True Temper Sports. In 1997, SensiCore® was the choice of leading manufacturers like Callaway, Cobra, Henry Griffitts, Lynx, Maxfli, Mizuno, Palmer, Prince, Spalding, Titleist, and Wilson for use in their premium performance club lines. In 1998, True Temper is launching the next generation in SensiCore® technology, SensiCore® Graphite Flight Trajectory Series™ (For more information, see news release on SensiCore® Graphite).

With 1997’s sales success, True Temper has increased manufacturing capacities at both their Amory and Olive Branch, Mississippi facilities. Upgrades were installed at the Amory steel shaft operation to help the company meet the growing demand for SensiCore® products. The expansion at the Olive Branch composite plant not only brought capacity to over 12,000 shafts per day, but also included the installation of an indoor testing facility which increased the capabilities of True Temper’s Research and Development department.

True Temper also expanded globally in 1997 by opening its third international affiliate: True Temper Japan. The Japanese company will be charged with growing sales
and improving service to the second largest golf market in the world. The Japanese operation joins True Temper’s other international affiliates located in Europe and Australia. Scott Hennessy comments, “Increasing True Temper’s presence in Japan and the Far East is part of our overall strategic plan to dramatically increase our international presence and growth.”

Continued success is in True Temper’s plan for 1998. “With a strong new product line, led by SensiCore® Graphite FTS, True Temper is poised to exceed 1997’s successful campaign,” notes Hennessy. “By bringing new technologies and materials to the industry, and constantly innovating against our own product line, True Temper will target to strengthen its market position in 1998.”

True Temper Sports is the largest producer of golf shafts in the world and is consistently the number one shaft on the PGA tour. True Temper manufactures a full line of steel and graphite shafts.