Cobra Golf enters into long-term licensing agreement with Como Sport LLC

Business Wire, August 1, 1996

CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 1, 1996--Cobra Golf Inc. Thursday announced that it has sold the inventory and equipment of its Como Sport apparel division to Como Sport LLC, and has entered into a long-term apparel licensing agreement with Como Sport LLC.

Como Sport LLC is a new company composed of a group of investors headed by Dick Pressler. Under the terms of the agreement, Como Sport LLC will license Como Sport, Como Sport by Cobra Golf, and other Cobra Golf trademarks.

``We want to continue to focus on golf equipment, our core business,'' said Mark McClure, president and chief executive officer of Cobra Golf. ``By licensing our Como Sport trademarks instead of operating our apparel business in-house, we can give our full attention to our upcoming King Cobra II product launch.''

Como Sport apparel for men and women is designed in Italy and features a classic look with European flair. Cobra Golf acquired the Como Sport apparel company in April 1994, and the company rapidly increased sales through its nationwide distribution in fine pro shops and Saks Fifth Avenue stores.

``Como Sport by Cobra has always offered a superior product at an unmatched value,'' said Pressler, president of Como Sport LLC, who has more than 30 years' experience in the apparel industry. ``We believe it has a large potential for growth, and we will continue the focus on high-quality Italian-made apparel, elegant styling and selective distribution.''

Cobra Golf designs, manufactures and markets high-quality golf clubs principally for the premium-priced game-improvement segment of the golf-equipment market. Cobra Golf's primary focus is on oversize irons and titanium metalwoods marketed and sold under the King Cobra brand name.

Cobra Golf Inc. is an operating company of American Brands Inc., Old Greenwich, Conn. -0-

NOTE TO EDITORS: Cobra Golf news releases are available on-line at http://www.cobragolf.com.

CONTACT: Cobra Golf Inc.

Mark McClure or Alison Jenks, 619/929-0377

or

Como Sport LLC

Dick Pressler, 619/431-2903