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FILA GOLF REPORTS COMPLETION OF BUYOUT AND FINANCING

 HUNTINGTON BEACH, Calif., Jan. 22 /PRNewswire/ -- Fila Golf today announced that it was recently purchased in a management-led buyout. The buyout was accomplished through the successful completion of a private placement of U.S. $3.5 million, 11 percent convertible notes, due Jan. 1, 1996. A European advisory group placed the entire transaction with European investors. The company subsequently issued 1.8 million shares of common stock.
 It was also reported that for the year ending Dec. 31, 1992, net sales increased approximately 9 percent to $3.8 million. While a public offering of stock is contemplated later this year, Fila Golf is currently considering another private placement because of an excellent response from investors regarding the successfully completed transaction.
 Miles Doody, chairman, president and chief executive officer, stated, "This new infusion of capital provides the company with increased funding for R&D, advertising, promotion and sales.
 Fila Golf is currently negotiating with the PGA of Europe to have its golf equipment carry their stamp of approval and recognition as their official golf clubs. Introduction of new products at the U.S. PGA show in Orlando, Fla. at the end of this month should enhance Fila Golf's position in all world markets."
 Fila Golf entered the highly competitive golf industry only two short years ago. The successful blend of quality workmanship, innovative technology and a logo and image acknowledged worldwide sets them apart from other newcomers to this industry. Fila Golf is licensed worldwide by Fila Sports SpA, Biella, Italy for exclusive manufacture and sales of all Fila Golf and golf related equipment.
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 /CONTACT: Miles Doody, chairman of Fila Golf, 714-897-8213/


CO: Fila Golf ST: California IN: LEI SU: TNM

MS-BP -- LA010 -- 7917 01/22/93 12:42 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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