MERIDIAN SPORTS NAMES TWO NEW DIRECTORS John P. Murray, Jr., Former Chairman of Wilson Sporting Goods, And Martin D. Payson, Former Vice Chairman of Time Warner, Join Board.

NEW YORK--(BUSINESS WIRE)--Nov. 16, 1994--Meridian Sports Incorporated (NASDAQ: MSPO) announced two appointments to its Board of Directors today: John P. Murray, Jr., who retired as Chairman and Chief Executive Officer of Wilson Sporting Goods Co. in 1989, and Martin D. Payson, who retired as Vice Chairman of Time Warner Inc. in 1992.

Mr. Murray joined Wilson Sporting Goods as Chairman and Chief Executive Officer in 1985. Previously he was President and Chief Executive Officer of Prince Manufacturing, Inc., and President and Chief Operating Officer of Atlantic Product Corporation. When active in these capacities, we was a member of the Executive Committee of the International Tennis Hall of Fame, a Director of the Sporting Goods Manufacturers Association and was involved in a number of other associations that promote sports.

Mr. Murray is Chairman of the Murray Foundation for Eye Research and served as Chairman of the Board of Recording for the Blind and as a Director of Eye Research Institute. In addition, he has been active in the Cancer Fund, Delaware Valley United Fund, Catholic Youth Organization, and Mercer County Heart Association. He is a Dean's Associate for the Business School of Indiana University and has also served as a Director of the New Jersey National Bank and of Core States Financial Corp. A graduate of Indiana University, he served in the Navy during World War II.

Martin D. Payson became Vice Chairman of Time Warner Inc. at the time that Time Inc. merged with Warner Communications in 1990. Prior to that he had been associated with Warner Communications since 1970, becoming its General Counsel in 1973 and a Director in 1976. Earlier he was an attorney in private practice and an instructor at the University of Michigan School of Law.

Mr. Payson serves as a Director of Renaissance Communications Corp. and of Ithaca Holdings Inc. Active in philanthropy, he is a Director of The Jewish Theological Seminary, United Jewish Appeal/Federation of Jewish Philanthropies of New York, The Jewish Museum, NAACP Legal Defense and Educational Fund, and Legal Aid Society of New York. In addition, he a Trustee of Howard University, New York University and the New York University Law Center Foundation. He also serves Vice Chairman and Trustee of Maimonides Medical Center and on the Board of Administrators of Tulane University.

A graduate of Cornell University, he received a law degree with honors from New York University School of Law, where he was an editor of the Law Review.

With net sales of $134.2 million for the first nine months of 1994, a 57% increase over the equivalent period in 1993, Meridian is a leading designer, manufacturer and marketer of specialized boats and water sports equipment, targeted principally to boating, fishing, waterskiing and scuba enthusiasts. Its well-known brands include Boston Whaler, MasterCraft, Skeeter and O'Brien. Following its initial public offering on October 12, 1994, the company's common shares began trading on the NASDAQ National Market under the ticker symbol MSPO.

CONTACT: Mary Ann Dunnell

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