Arbitrator Upholds Converse Termination of Latrell Sprewell.

NORTH READING, Mass.--(BUSINESS WIRE)--July 23, 1998--Converse Chairman and CEO Glenn N. Rupp today announced that Los Angeles, CA arbitrator Robert A. Holtzman ruled on July 15, 1998 that Converse was within its rights to terminate its endorsement contract with Latrell Sprewell.

Converse notified Sprewell on December 4, 1997 that it was terminating his contract following a December 1, 1997 altercation with his coach, P.J. Carlesimo of the Golden State Warriors. Sprewell filed an arbitration action against Converse on December 29, 1997 claiming that Converse did not have the right to terminate his contract. Holtzman's July 15 ruling upheld the decision by Converse to terminate Sprewell's contract and required Converse to only pay Sprewell's endorsement fee through the effective date of termination.

Converse is a leading global designer, manufacturer and marketer of high quality athletic footwear for men, women and children. The Company is also a global licenser of sports apparel, accessories and selected footwear. The Company's products are distributed in over 90 countries to approximately 9,000 customers that include specialty athletic, sporting goods, department and shoe stores.

    CONTACT: Converse
              Jennifer Murray, 978/664-7521
              Kellie Buckley, 978/664-7522