CONSUMERS AND RETAILERS RATE TRUE TEMPER AS #1 SHAFT BRAND

Memphis, TN - January 29, 1999 - The results of a recent New York Times Magazine Group market research survey show that True Temper is the number one preferred golf shaft brand in the market. The study polled a combination of 500 core and avid core golfers on their awareness and attitudes of different golf shaft brands.

“A similar survey conducted in 1995 showed True Temper as the clear leader in shaft brand awareness with consumers,” says Scott Hennessy, President and CEO of True Temper Sports. “The 1998 survey confirms that the True Temper brand is continuing to grow and distance itself from other brands in the industry.” True Temper shafts are not only the most recognized brand, they are also perceived as the number one performing shafts in the industry. “True Temper’s commitment to new technologies and a strong presence on tour has positioned us as the high performance leader in the shaft industry,” states Hennessy. The survey also found that over 75% of the respondents list the shaft performance benefits as very important in their overall golf club purchase decision. “Golf shafts are now clearly being viewed by consumers as the engine of the golf club,” notes Hennessy.

Consumers aren’t the only audience who rate True Temper as the number one shaft brand. An independent piece of research taken from a survey of golf industry retailers has True Temper scoring above all other shaft brands on key performance attributes like product innovation, product quality, and brand image.

Another important finding in the consumer survey showed that Grafalloy, which was recently acquired by True Temper, is gaining strong momentum in consumer brand awareness. “In the last three years, Grafalloy has done an excellent job of positioning their product and brand in the ultra light graphite shaft category,” adds Scott Hennessy. “Grafalloy is the only shaft company, other than True Temper, that has gained brand awareness with consumers during the last three years. They have positioned themselves to be the next power brand in the shaft industry. Having the Grafalloy product line under the True Temper umbrella only strengthens our overall position in the market.”

True Temper Sports is the leading manufacturer of golf shafts in the world and is consistently the number one shaft on Tour. The Company markets a complete line of shafts under the True Temper, Grafalloy, and True Temper Titanium shaft brands, and sells these brands in over thirty countries throughout the world. True Temper Sports employs over 700 people in seven facilities located in the United States, Europe, Japan and Australia.