Collegiate Pacific Successfully Completes Sport Supply Group Inc. Transaction.

DALLAS -- Collegiate Pacific Inc. (AMEX:BOO) today announced it had successfully completed its acquisition of the remaining shares of Sport Supply Group Inc. ("SSPY") that it did not already own for approximately $24 Million in cash. Under the terms of the September 21, 2006 definitive merger agreement, SSPY stockholders will receive $8.80 in cash for each share of SSPY common stock. The company financed the merger through borrowings under its new credit facility with Merrill Lynch Business Financial Services, Inc.

Additional information regarding the transaction and future plans will be discussed on the Q107 Earnings conference call this afternoon at 3:30 PM CST.

Collegiate Pacific is the nation's fastest growing manufacturer and supplier of sports equipment primarily to the institutional and team dealer markets. The Company offers more than 4,500 products to 300,000 prospective and existing customers. The Company distributes approximately 3.0 million catalogs annually and employs approximately 200 professional road salesmen including those associated with the Sport Supply Group platform.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements relating to Collegiate Pacific's anticipated financial performance, business prospects, new developments and similar matters, and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These forward-looking statements are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results may differ materially from those suggested by the forward-looking statements due to a variety of factors, including changes in business, political, and economic conditions due to the threat of future terrorist activity or otherwise, actions and initiatives by current and potential competitors, and certain other additional factors described in Collegiate Pacific's filings with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on Collegiate Pacific's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Collegiate Pacific is not under any obligation and does not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.