Collegiate Pacific Executes New Credit Facility.

Business Editors

DALLAS--(BUSINESS WIRE)--Dec. 29, 2003

Collegiate Pacific (AMEX:BOO) today stated that it has executed a long-term, commercial banking agreement with Merrill Lynch Business Services.

Michael Blumenfeld, CEO, stated, "the new banking relationship with Merrill Lynch will lower our banking costs while vastly expanding our banking resources. As we continue to grow internally and through acquisitions, the value of this relationship will be recognized many times over. We are excited about the variety of opportunities that are within the framework of an institution the size of Merrill Lynch."

Collegiate Pacific is the nation's fastest growing manufacturer and supplier of sports equipment primarily to the institutional markets. The Company offers more than 3,200 products to 35,000 existing customers.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The company has based these forward-looking statements on its current expectations and projections about future events, based on the information currently available to it. The forward-looking statements include statements relating to the company's anticipated financial performance, business prospects, new developments, new strategies and similar matters. The following important factors, in addition to those described in the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended June 30, 2003, especially in the Risk Factors and the Management's Discussion and Analysis sections, and its Quarterly Reports on Form 10-QSB and its Current Reports on Form 8-K (each of which is available upon request from the company or on the company's website, www.cpacsports.com, under the heading "Investors") may affect the future results of the company and cause those results to differ materially from those expressed in the forward-looking statements, material adverse changes in the economic conditions in the Company's markets, including as a result of terrorist attacks, competition from others, how much the Company may receive from the exercise of outstanding stock options and warrants, if anything, and the ability to obtain and retain key executives and employees. We disclaim any obligation to update these forward-looking statements.