TRUE TEMPER® AND NIKE GOLF® FORGE STRONG RELATIONSHIP

Memphis, TN - December 17, 2001 - True Temper, the #1 Shaft in Golf, has been chosen as a primary shaft supplier for Nike Golf’s highly anticipated entry into the golf club arena. The company will be the sole supplier of steel shafts for both Nike forged irons and forged wedges. In addition, they were one of only three shaft manufacturers to be selected as Nike preferred graphite shaft suppliers. “We are very excited to be part of Nike’s long-awaited entry into the club side of the equipment industry, states Scott Hennessy, President & CEO. “The innovation that they have shown in other sports will, no doubt, filter into their club design and marketing initiatives.”

True Temper design engineers worked closely with Nike Golf’s Chief Club Designer, Tom Stites, to match the proper shaft with each clubhead design ensuring optimal performance. True Temper’s Dynamic Gold® has been chosen as the stock shaft for Nike Golf’s irons and wedges. The Tour-proven, high-flex design has made it the #1 shaft in the world for over 50 years, currently being played by over 50% of PGA Tour players each week. In addition to the stock steel and graphite offerings, both EI-70® and Grafalloy ProLite® have been included in the custom program for drivers.

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 and Grafalloy 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.