Thursday October 1, 12:49 pm Eastern Time
Company Press Release
SOURCE: Adams Golf
Adams Golf Plans to Repurchase Up to 2
Million Shares of the Company's Common Stock
PLANO, Texas, Oct. 1 /PRNewswire/ -- Adams Golf (Nasdaq: ADGO - news) announced today that its
Board of Directors has authorized the repurchase of up to two million shares of the Company's Common
Stock. A purchase of the total number of shares authorized would equal approximately 8.6% of the
23,136,782 shares outstanding.
Adams Golf will repurchase its Common Stock using periodic open market purchases and by block
purchases at prevailing prices and based on market conditions. The Company intends to use surplus
cash to fund the repurchase program and expects the program to begin immediately.
Barney Adams, Chairman, CEO and President of Adams Golf stated, ''We believe our shares are
significantly undervalued at this time and believe the share repurchase program communicates our
confidence in the future of Adams Golf as a leader in the golf equipment industry. Given our Company's
strong cash and financial position, the Board determined that purchasing our own stock represents an
excellent investment for the Company and is in the best interest of our shareholders.''
Adams Golf designs, manufactures and markets premium quality, technologically innovative golf clubs
including the Tight Lies(R) fairway woods. Further information on the Company can be found on its
Internet site, www.adamsgolf.com.
This release, other than historical information, includes forward-looking statements with respect to
industry trends and certain other matters. These statements are made under the ''safe harbor''
provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in the forward-looking statements,
including but not limited to the following: product development; product introductions; market demand
and acceptance of products; the impact of changing economic conditions; business conditions in the
golf industry; reliance on third parties including suppliers; the impact of market peers and their products;
the actions of competitors, including pricing; risks concerning future technology; and one time events
and other factors detailed in the Company's prospectus, and other Securities and Exchange
Commission filings. These filings can be obtained by contacting Adams Golf Investor Relations.
SOURCE: Adams Golf
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