Adams Golf, Inc. and Its Top Officers and Directors Are Sued by the Shareholders as Per the Class Action Lawsuit Filed by Berger & Montague, P.C.

PHILADELPHIA--(BUSINESS WIRE)--July 14, 1999--

On June 14, 1999, Berger & Montague, P.C. filed a class action on behalf of investors alleging Adams Golf, Inc. (Nasdaq:ADGO) and certain of its officers and directors violated the federal securities laws.

According to the lawsuit, defendants omitted or misrepresented information from the Registration Statement they filed with SEC and the Prospectus they disseminated to investors who purchased Adams Golf (Nasdaq:ADGO) common stock in the initial public offering in July 1998 (the "IPO").

The lawsuit charges that the Registration Statement and the Prospectus failed to disclose material risks arising from two important conditions existing at the time of the IPO, namely that at the time of the IPO, gray market distribution of Adams Golf products and an oversupply of golf club inventory at the retail level were negatively affecting Adams Golf's earnings.

According to the complaint, the price of Adams Golf stock has declined dramatically in the period following the IPO as investors have learned the truth. The complaint also alleges that, in the IPO, individual defendants sold more than two million shares of the Company's stock for more than $36 million in proceeds. The complaint was filed Friday in the United States District Court for the District of Delaware, and the case number is 99-371. The class consists generally of persons who purchased in the IPO.

The law firm of Berger & Montague, P.C. has extensive experience in securities class action cases. The Berger firm has played lead roles in major cases over the past 25 years resulting in recoveries in the billions of dollars to investors. Courts widely recognize Berger and Montague, P.C. for the high quality of its legal representation on behalf of defrauded investors. If you purchased Adams Golf common stock in the IPO, you may, not later than 60 days from today, move the Court to serve as lead plaintiff of the class.

If you wish to discuss this action or have any questions concerning the notice or your rights or interests with respect to these matters, please contact Berger & Montague, P.C. (Todd S. Collins Esq. or Jacob Goldberg, Esq.) at 1622 Locust Street, Phila., PA 19103, Law Offices of Donald B. Lewis (Donald B. Lewis, Esq.) at 5 Cynwyd Rd., Bala Cynwyd, PA 19004, Abrahams, Loewenstein, Bushman & Kaufman, P.C. (Robert H. Louis, Esq. or Jeffrey P. Bates) at One Liberty Place, Suite 3100, 1650 Market Street, Philadelphia, PA 19103 or The Olsen Law Firm (Kurt B. Olsen, Esq.) at 212 K St., N.W., Suite 800, Washington, D.C. 20037.