TRUE TEMPER INTRODUCES FIRST TITANIUM PRODUCT LINE

Orlando, FL - January 29, 1999 - True Temper Sports introduced its first ever titanium product line today at the 1999 PGA Merchandise Show. The extensive line of titanium wood and iron shafts will be marketed under the name and trademark of True Temper Titanium™ and True Temper Ti Tour™.

Commenting on the titanium product line, Scott Hennessy, president and CEO of True Temper stated, "We are very excited to market this new range of titanium shafts under the True Temper brand! It allows us to further broaden our shaft offering with a complete range of materials and provides us even greater opportunities for future innovations in shaft design and technology.”

"This product launch is just one more piece of an exciting product development strategy that will position our company for accelerated growth in the future. It follows up on the successful re-capitalization of True Temper Sports with Cornerstone Equity Partners in late September, and the acquisition of Grafalloy in October of 1998,” notes Hennessy.

Titanium shafts offer unique performance attributes when compared to steel or graphite. They possess a weight profile slightly lower than steel and they have a much softer feel. The shafts are extremely strong and are an excellent complement to many of today’s titanium woods.

The True Temper Ti Tour line consists of both wood and iron shafts. The Ti Tour shafts deliver a low, tour trajectory and are designed for players with strong swing tempos. The True Temper Titanium line offers wood shafts that are designed for players with moderate swing tempos and those golfers who require a slightly higher ball flight. Both the Ti Tour and Titanium shafts feature lightweight designs, low torque ratings for more control, and a smooth distinctive feel.

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.