Adams Golf Announces Nasdaq Delisting.

Business Editors

PLANO, Texas--(BUSINESS WIRE)--May 19, 2003

Adams Golf (NasdaqSC:ADGO) stated today that it received a Nasdaq staff determination that its securities will be delisted from The Nasdaq SmallCap Market at the opening of business on May 22, 2003 for failure to regain compliance with the minimum $1.00 closing bid price per share requirement found in Marketplace Rule 4310(c)(4). Although the Company was given until May 20, 2003 to request a hearing to appeal the staff determination, the Company does not expect to seek such an appeal at this time.

Following the delisting with The Nasdaq SmallCap Market, the Company intends for its stock to be traded via the OTC Bulletin Board (OTCBB). The OTCBB is a regulated quotation service that displays real-time quotes, last-sales prices and volume information for eligible securities.

The National Association of Securities Dealers is in the process of establishing a new market to replace the OTCBB. This new market, the BBX, will be for small companies that are required to meet many of the corporate governance requirements of Nasdaq-listed companies, but there will be no financial requirements for listing. Specifically, BBX companies will not be required to meet minimum share price, market capitalization, or shareholder equity requirements. The BBX is scheduled to launch in the fourth quarter of this year, pending approval of the Securities and Exchange Commission. The Company expects to further transition its securities to the BBX at the appropriate time.

"While the Company would have preferred to have maintained its Nasdaq listing status, we remain focused on our core objective of designing and marketing golf clubs that make the game more fun for golfers everywhere," stated Chip Brewer, President and CEO of Adams Golf. "We continue to believe that our emphasis on Adams' operating performance provides the best long term opportunity for increasing shareholder value."

Adams Golf designs, manufactures and markets premium quality, technologically innovative golf clubs including the newly introduced Adams Idea irons and Redline fairway woods and drivers. In addition, the Company produces Tight Lies(R) GT irons and i-Woods, the Tight Lies family of fairway woods and drivers, Tight Lies GT woods and the Tom Watson signature series wedges. Further information on the Company can be found on its Internet site at adamsgolf.com.

This release contains forward-looking statements including certain statements with respect to the future listing of the stock on the OTC Bulletin Board and the BBX, certain potential effects of its delisting from The Nasdaq SmallCap Market, and other matters. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this release, the words "anticipate," "believe," "expect" and words or phrases of similar import, as they relate to the Company or Company management, are intended to identify other forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions which could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the acceptance of the Company's stock for inclusion on the OTC Bulletin Board and/or the BBX; the market for and price of the Company's stock if and when it is listed on the OTC Bulletin Board and/or the BBX; the fact that the delisting of the Company's stock may adversely affect the ability or willingness of investors to purchase or sell the Company's stock; the adverse effect on the market liquidity of the Company's securities; the impact of changing economic conditions; and one time events and other factors detailed in the Company's 10-Ks, 10-Qs and other Securities and Exchange Commission filings. The Company's SEC filings can be obtained by contacting Adams Golf Investor Relations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described in this release. Except as required by federal securities laws, Adams Golf undertakes no obligation to publicly update or revise any written or oral forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this report. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the applicable cautionary statements.