Ram Golf acquired by TearDrop Golf

Union, N.J.- TearDrop Golf Company (Nasdaq: TDRP) Chairman and CEO Rudy Slucker announced today that the company has signed a letter of intent to purchase Ram Golf for a combination of cash and stock.

In early November, TearDrop announced the purchase of Tommy Armour Golf for $10 million cash, $10 million of preferred stock and one million shares of common stock of TearDrop.

"By acquiring Ram Golf, we will be able to offer an array of established major golf clubs to golfers of all levels worldwide," Slucker said. "Ram Golf's management and its products, along with our newly re-launched 845s irons from Armour Golf will present the perfect complement to the TearDrop product line.

"This acquisition will create an even stronger presence on each of the major professional golf tours," he added. "Ram Golf's Zebra Putter is the all-time money and win leading mallet in golf and has over 35 top five finishes on Tour in '97. The Zebra Putter and all Ram Golf products will certainly enhance our TearDrop/Armour product line."

TearDrop manufactures specialty golf clubs, including wedges and putters. Tommy Armour sells clubs and accessories, including the popular 845s irons.