July 14, 2000

In a recent report, the Brunswick Corporation, a major U.S. supplier of consumer products, said that the company plans to divest its bicycle, camping and fishing businesses, citing low-cost imports and market weakness as major factors contributing to the decision.

"[These sectors] are not meeting our financial criteria, despite significant efforts to improve their performance,"stated George W. Buckley, newly appointed chairman of the board and chief executive officer.

Prior to the announcement, the company outsourced production and consolidated operations in an effort to increase profit margins, but, Mr. Buckley noted,"These actions have not been sufficient to outweigh the effect of continued pricing pressure from low-cost Asian imports and weak market conditions in the bicycle, camping and fishing segments."

Brunswick, whose other business interests include marine products and sporting goods, intends to shift its focus to concentrate on "leading active recreation brands" that are innovative and have good market potential. In 1999, sales from Brunswick's bicycle, camping and fishing sectors totaled US$478 million, or about 11 percent of the US$4.3 billion reported by the company. Brunswick's major bicycle brands are Mongoose and Roadmaster.