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Smith & Wesson Enters Licensing Agreement With Cycle Source Group

- Veteran Bicycle Distributor Will Sell to Both

Consumer and Law Enforcement Marketplace -

SCOTTSDALE, Ariz., Oct. 3 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corporation (OTC Bulletin Board: SMWS) parent company of the legendary 150-year-old handgun maker, Smith & Wesson Corp., today announced it has entered into a licensing agreement with Cycle Source Group, which produces bicycles and a wide array of accessories for Jeep and Honda.  Cycle Source Group currently distributes their lines through mass retailers, sporting goods chains and bicycle shops.

This new licensee affords us the opportunity to increase our exposure in the traditional consumer retail channels, said Mitchell Saltz, CEO and chairman of Smith & Wesson Holding Corp.  This is another step in our strategic licensing plan to create new revenue streams leveraging the legendary Smith & Wesson brand.

We are very excited about taking over the Smith & Wesson bicycle line, said Nyle Nims, president of Cycle Source Group.  We already deal with institutional and fleet orders and are prepared to expand and meet the needs of law enforcement, municipalities and the consumer marketplace.  This is a great opportunity to expand the Smith & Wesson name.

Cycle Source Group will launch their representation of the Smith & Wesson bicycle line at the InterBike Show to be held at the Sands Convention Center in Las Vegas, NV from Sunday, October 6, 2002 through Tuesday, October 8, 2002.  The InterBike Show is the largest bicycle trade Show in the U.S. and Cycle Source Group will be located in booth #339.

About Smith & Wesson Holding Corporation

Smith & Wesson Holding Corporation is the parent company of Smith & Wesson Corp., one of the world's leading producers of quality handguns, law enforcement products and firearm safety and security products.  Law enforcement personnel, military personnel, target shooters, hunters, collectors and firearms enthusiasts throughout the world have used the company's products with confidence for 150 years.  Smith & Wesson Corp. also manufactures and markets Smith & Wesson branded bicycles, handcuffs and other products utilizing its metal working expertise and providing products and services to many external customers through its Specialty Services division.

Safe Harbor Statement

Statements in this press release about the company's future expectations, including the financial progress and position in the marketplace, the anticipation of strong third and fourth quarter results, and the development of licensing and branding opportunities, and all other statements in this release, other than historical facts, are forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.  It is important to note that actual results and ultimate corporate actions could differ materially from those is such forward-looking statements based on such factors as softening consumer demand based on national or political events or based on consumers' personal satisfaction or desire for our products for a variety of reasons (style, quality, etc.); or the inability to leverage the name Smith & Wesson in the licensing categories selected by management to pursue; or a perceived or actual decline in the quality of products produced among other factors.  Such forward-looking statements are subject to risks and uncertainties set forth from time to time in the Company's SEC reports, including the report on form 10-KSB for the year ended April 30, 2002 and the form 10-QSB for the quarter ended July 31, 2002.

For more information, visit the company's Web site at: http://www.smithandwesson.com

For further information, please contact:  media, Teri James of E.B. Lane Marketing Communications, +1-602-258-5263; or investors, Shannon T. Squyres, President of Market Pathways, +1-949-955-1860, both for Smith & Wesson Holding Corporation; or Carol Heide, Dir. of Communications of Smith & Wesson Holding Corporation, +1-480-949-9700.

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SOURCE  Smith & Wesson Holding Corporation

    -0-                             10/03/2002

/CONTACT:  media, Teri James of E.B. Lane Marketing Communications, +1-602-258-5263; or investors, Shannon T. Squyres, President of Market Pathways, +1-949-955-1860, both for Smith & Wesson Holding Corporation; or Carol Heide, Dir. of Communications of Smith & Wesson Holding Corporation, +1-480-949-9700/

/Web site:  http://www.smithandwesson.com  /

(SMWS)

CO:  Smith & Wesson Holding Corporation; Smith & Wesson Corp.; Cycle Source

Group

ST:  Arizona, Nevada
IN:  REA SPT AUT OTC
SU:  LIC TDS

SE
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6877 10/03/2002 08:03 EDT http://www.prnewswire.com

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