Exhibit 1
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ROYAL PRECISION TERMINATES NEGOTIATIONS
TO ACQUIRE PH GROUP INC.
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FOR IMMEDIATE RELEASE
Contact: THOMAS A. SCHNEIDER, President and Chief Operating Officer
KEVIN L. NEILL, Vice President - Finance and Chief Financial Officer
Royal Precision, Inc. (480) 627-0200
INTERNET: WWW.ROYALPRECISION.COM
RCG Capital Markets Group, Inc. (480) 675-0400
RETAIL: JIM ESTRADA, BRETT MAAS
ANALYSTS/INSTITUTIONAL: JOE DORAME
MEDIA: JEFF STANLIS
INTERNET: WWW.RCGONLINE.COM
(NOVEMBER 28, 2000) - SCOTTSDALE, Arizona - Royal Precision, Inc. (Nasdaq: RIFL)
announced today that it has terminated the non-binding letter of intent and
discontinued negotiations with PH Group Inc. (OTC Bulletin Board: PHHH)
regarding the potential acquisition announced September 28, 2000. In connection
with the termination of the letter of intent, Royal Precision's option to
acquire up to 500,000 shares of PH Group common stock has also been terminated.
PH Group is a manufacturer of hydraulic presses and injection molding machines
for applications in metal working, compression molding and plastic injection
molding.
Thomas A. Schneider, President and Chief Operating Officer, commented "Although
we ultimately determined this opportunity was not in the Company's best
interests, we will continue to look for additional opportunities to grow our
business and increase shareholder value."
Royal Precision, Inc. is a leading designer and manufacturer of high-quality
innovative golf club shafts, including the Rifle(R) shaft featuring the
Company's "Frequency Coefficient Matching" technology, or "FCM," designed to
provide consistent flex characteristics to all the clubs in a golfer's bag.
Royal Precision, Inc. is also a designer and distributor of Royal Grip(R) golf
club grips offering a wide variety of standard and custom models, all of which
feature durability and a distinctive feel and appearance.
THIS PRESS RELEASE INCLUDES STATEMENTS WHICH MAY CONSTITUTE FORWARD LOOKING
STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISION OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. THESE STATEMENTS, WHICH USUALLY CONTAIN THE WORDS
"BELIEVE," "EXPECT," "ANTICIPATE," OR "WILL," ARE SUBJECT TO RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE
FORWARD LOOKING STATEMENTS. FACTORS THAT WOULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THE FORWARD LOOKING STATEMENTS INCLUDE, BUT ARE NOT LIMITED TO,
RISKS RELATED TO THE COMPANY'S DEPENDENCE ON DISCRETIONARY CONSUMER SPENDING AND
DEMAND FROM ORIGINAL EQUIPMENT MANUFACTURERS, THE COMPANY'S LIMITED OPERATING
HISTORY, THE TIMELINESS AND MARKET ACCEPTANCE OF NEW PRODUCT INTRODUCTIONS,
COMPETITION, SEASONALITY OF SALES, FLUCTUATIONS IN OPERATING RESULTS, PROTECTION
OF INTELLECTUAL PROPERTY RIGHTS, SUPPLY DELAYS, USE OF THIRD PARTY SUPPLIERS,
CUSTOMER CONCENTRATION AND OTHER FACTORS DETAILED IN THE COMPANY'S SECURITIES
AND EXCHANGE COMMISSION FILINGS.
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