Rawlings Sets Special Meeting of Stockholders in Connection With Proposed Merger With K2 Inc.

    FENTON, Mo., Feb. 14 /PRNewswire-FirstCall/ --
 Rawlings Sporting Goods Company, Inc. (Nasdaq:   RAWL) today announced it has
 scheduled a special meeting of its stockholders to vote on the previously
 announced merger agreement with K2 Inc. (NYSE:   KTO).  The special meeting will
 be held on Wednesday, March 26, 2003 at 9:30 CST in Fenton, Missouri.
     Stockholders of record at the close of business on February 24, 2003, the
 record date for the special meeting will be entitled to vote at the meeting.
 Completion of the merger is subject to certain closing conditions, including
 approval of the issuance of shares of common stock in connection with the
 merger by stockholders of K2 at a special meeting being conducted in Los
 Angeles, California on the same day, March 26, at 11:00 a.m. PST and the
 receipt of the consent of certain major customers of Rawlings.
     Rawlings and K2 filed a preliminary joint proxy statement soliciting the
 votes of their shareholders with respect to the transaction with the
 Securities and Exchange Commission on January 17, 2003.  The joint proxy
 statement was part of a K2 registration statement that also included a K2
 prospectus and other relevant documents concerning the proposed merger.  A
 definitive joint proxy statement will be sent to stockholders of Rawlings and
 K2 seeking their approval of the proposed transaction.
     STOCKHOLDERS OF RAWLINGS AND K2 ARE URGED TO READ THE REGISTRATION
 STATEMENT, INCLUDING THE PROSPECTUS AND THE DEFINITIVE JOINT PROXY STATEMENT
 WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION.
 Copies of these documents may be obtained free of cost on the SEC's website,
 http://www.sec.gov, or upon oral or written request to:  William F. Lacey,
 Vice President and Chief Financial Officer at Rawlings, telephone number
 (636) 349-3500 or at wlacey@rawlings.com .
     Rawlings and its directors and executive officers may be deemed to be
 participants in the solicitation of proxies of Rawlings stockholders in
 connection with the proposed merger.  A detailed list of the names,
 affiliations and interests of the participants in the solicitation is set
 forth in the preliminary joint proxy statement that as filed with the SEC on
 January 17, 2003 and will be set forth in the definitive joint proxy statement
 when it becomes available.
     This press release is not a proxy statement.  The company has not yet
 filed a definitive proxy statement in connection with the solicitation of
 proxies relating to the proposed transaction.  Stockholders of Rawlings and K2
 will receive such a statement and a proxy card in connection with the
 solicitation.
     Rawlings is a leading marketer and manufacturer of baseball equipment in
 the United States.  Rawlings is the official baseball of Major League Baseball
 and the NCAA Baseball Championships.  Over half of all Major League players
 use a Rawlings glove, including such stars as Derek Jeter, Alex Rodriquez, Ken
 Griffey, Jr., and Pedro Martinez.  Over one third of all Major League players
 use a Rawlings bat.  Rawlings is also a leading marketer of basketballs,
 footballs, and team apparel, including the new patented Rawlings Ten
 basketball, a new ten seam basketball to provide greater ball control, and the
 new patented Rawlings VR5 football, a 5 panel football for better handling.
     K2 is a leading designer, manufacturer and marketer of brand-name sporting
 goods, recreational and industrial products.  The company's sporting goods and
 recreational products include well-known names such as K2 and Olin alpine
 skis; K2, Ride and Morrow snowboards, boots and bindings; K2 inline skates;
 Stearns sports equipment; Shakespeare fishing tackle; K2 bikes; and Dana
 Design backpacks.  K2's other recreational products include Planet Earth
 apparel, Adio skateboard shoes and Hilton corporate casuals.  K2's industrial
 products include Shakespeare extruded monofilaments, marine antennas and
 composite light poles.
 
 

SOURCE Rawlings Sporting Goods Company, Inc.

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