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NEW DIRECTORS ELECTED FOR PROGROUP, INC.; ARNOLD PALMER RETURNS TO THE BOARD

 NEW DIRECTORS ELECTED FOR PROGROUP, INC.;
 ARNOLD PALMER RETURNS TO THE BOARD
 CHATTANOOGA, Tenn., Feb. 14 /PRNewswire/ -- An independent shareholder committee today received a majority vote electing a new board of directors for ProGroup, Inc. (NASDAQ-NMS: PRGR), replacing the incumbent board members. The new board members are:
 -- Arthur Becker, New York, a private investor and associate
 director of Bear Stearns & Co., Inc.
 -- Richard E. Wenz, Alpharetta, Ga., executive vice president
 and chief financial officer of Wilson Sporting Goods from 1983
 to 1990.
 -- Robert H. Caldwell, Chattanooga, a member of the board of
 ProGroup since 1964 and an investment counselor.
 -- John P. Murray, Jupiter, Fla., presently retired. Murray was
 Chairman of Wilson Sporting Goods from 1985 to 1989 and Chief
 Executive Officer of Prince Manufacturing Company from 1978 to
 1982.
 -- Russell B. Newton, III, Jacksonville, Fla., president of a
 registered investment advisor and a long-time shareholder of
 ProGroup.
 -- Arnold Palmer, Latrobe, PA, licensor to the Company of its
 principal golf equipment line and a member of the board until
 1990.
 The new board takes control immediately. Its first action was to elect Becker chairman of the board. Wenz was named president and chief executive officer and will report to ProGroup's offices in Ooltewah on Monday.
 Becker said, "We're very pleased with the shareholder vote and the endorsement of our plans to take ProGroup in a new direction of sustained growth. This is a great company and we look forward to the opportunities we see ahead."
 Wenz said, "This company has enormous unrealized potential and we want to tap into that potential, with the ultimate goal of providing better value to shareholders."
 He added, "Progroup has an experienced group of employees and we want to make sure that the transition is a smooth one for everyone, including the employees, customers and shareholders."
 "We are excited at the prospect of working with Arnold Palmer to enhance the Palmer product line and to expand the marketing of ProGroup into the international arena," Wenz said. "We have a committed Board and I look forward to working with them to implement our plans."
 ProGroup, headquartered in Chattanooga, is a manufacturer and wholesaler of the Arnold Palmer and First Flight lines of golf clubs, Duckster sportswear and Hotze golf bags and luggage.
 -0- 2/14/92
 /CONTACT: Dick Wenz, 615-756-3000 (Friday) or 404-740-8251 (Weekend), or Arthur Becker, 212-272-7137 (Office) or 212-737-9723 (Home)/
 (PRGR) CO: ProGroup, Inc. ST: Tennessee IN: SU: PER


CM-JZ -- CH009 -- 0415 02/14/92 17:43 EST
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Publication:PR Newswire
Date:Feb 14, 1992
Words:413
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