Stockholders of Hibbett Sporting Goods, Inc. Place Shares of Common Stock

Business Wire, Jan 16, 2002

Business Editors

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 16, 2002

Hibbett Sporting Goods, Inc. (Nasdaq/NM:HIBB) today announced that affiliates of Saunders Karp & Megrue (SKM) have priced a public offering of 1,180,000 shares of the Company's common stock. All of the shares being sold in the offering are being sold by affiliates of SKM. The offering is expected to close on January 22, 2002. The Company will not receive any of the proceeds from the sale of the shares by the selling stockholders.

The sale of the shares in this offering was made under the Company's current shelf registration statement filed with the Securities and Exchange Commission on November 23, 2001. SKM offered these shares to realize a portion of the value of its original investment made in 1995 and will continue to own approximately 20% of the Company's common stock after the offering.

SunTrust Robinson Humphrey acted as sole underwriter for the offering. SunTrust Robinson Humphrey is offering the shares to the public at a price of $32.10 per share. Copies of the prospectus supplement and prospectus relating to the offering may be obtained from SunTrust Robinson Humphrey, 3333 Peachtree Road, Atlanta, Georgia 30336. These documents will also be filed with the Securities and Exchange Commission and will be available at the SEC's website at http://www.sec.gov.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Hibbett Sporting Goods, Inc.

Hibbett is a rapidly growing operator of full-line sporting goods stores in small to mid-sized markets, predominately in the southeastern United States. The Company's primary store format is Hibbett Sports, a 5,000-square-foot store located in enclosed malls and dominant strip centers.

Certain matters discussed in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not limited to general and regional economic conditions, industry trends, merchandise trends, vendor relationships, customer demand, and competition. A complete description of these factors, as well as others which could affect the Company's business, is set forth in the Company's periodic filings, including its Form 10-K and the Prospectus dated December 6, 2001.