TRUE TEMPER COMPLETES NEW WEST COAST FACILITY

Memphis, TN - November 16, 1999 - Today, True Temper Sports announced the completion and grand opening of the Company’s composite operations located in El Cajon, California. The new state-of-the-art design and manufacturing facility covers over 46,000 square feet, has the capacity to produce 17,000 shafts per day, and employs an expanded workforce of 225.

Commenting on the expansion, True Temper CEO and President Scott Hennessy states, “We are very excited about the increased capacity and composite production opportunities for both our Grafalloy and True Temper brands. This new facility not only features cellular manufacturing workflow and rapid prototyping cells, but also extensive research and development capabilities, creating a world class production environment.”

The expanded site will further True Temper’s position as the leader in both the development and sale of premium graphite shafts. “The success of our flagship brands can be directly attributed to our momentum on Tour and the strengthening of our customer partnerships. ProLite® and EI-70® combined for 34 wins on Tour in 1999 and both shafts are now available as stock or custom options with over 25 major club manufacturers,” says Hennessy. The new facility also houses a True Temper Shaft Lab™, a computerized shaft fitting system, which analyzes swing and shaft dynamics.

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.