SCOTTSDALE, Ariz., Apr 29, 2003 (BUSINESS WIRE) -- The new 500 Smith & Wesson Magnum(R) revolver introduced by the legendary 150-year-old handgun maker, Smith & Wesson Corp., a subsidiary of Smith & Wesson Holding Corporation (AMEX:SWB) was named "Handgun of the Year" by the Shooting Industry Academy of Excellence at ceremonies held Friday in conjunction with the 132nd Annual NRA Meetings and Exhibits in Orlando, Florida.

The Shooting Industry Academy of Excellence, comprised of a select group of retailers, independent writers and industry executives, is dedicated to recognizing and rewarding excellence in product design, quality and service to the industry.

"The Smith & Wesson Model 500 represents the standard of excellence by which others will be measured for years to come," said Russ Thurman, editor of Shooting Industry Magazine.

Bob Scott, chairman of Smith & Wesson Corp., who was presented last year with the 2002 Shooting Industry Award, said demand for the Model 500 has overwhelmingly exceeded the Company's expectations. "Interest in the 500 Magnum(R) has been phenomenal. Once again, Smith & Wesson has demonstrated its industry leadership through product innovation and demand for the product continues to grow as many enthusiasts are just now reading about, or seeing the product for the first time."

The 500 Smith & Wesson Magnum(R) has debuted on the front covers and in feature articles of the industry's leading magazines including Guns & Ammo, Shooting Times, American Rifleman and Shooting Industry.

Heralded as the largest and most powerful production revolver ever made, the 500 Smith & Wesson Magnum(R) revolver was introduced by Smith & Wesson at the Shooting, Hunting, Outdoor Trade (SHOT) Show in February. At that event, Smith & Wesson introduced nine new handgun products including: the highly successful SW1911 in .45ACP; the SW99 full size pistol in .45ACP; two new SW99 compact models in 9mm and .40S&W; and the first-ever scandium frame pistol, the Model 4040PD.

To see a list of the 2003 Academy of Excellence Award Winners go to: http://www.shootingindustry.com/03siae/03SIAEwin.html

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 manufacturers and markets Smith & Wesson branded handcuffs and other products utilizing its metal working expertise. For more information, visit http://www.smithandwesson.com

Safe Harbor Statement

Statements in this press release about the company's future expectations, including: the success of the Model 500 and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Act of 1934, as that term is defined in the Private Securities Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as softening of 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 Forms 10-QSB for the quarters ending July 31, 2002, October 31, 2002, and January 31, 2003.

SOURCE: Smith & Wesson Holding Corporation

CONTACT:          Smith & Wesson Holding Corporation
                  Media Relations
                  Amy Armstrong, 480/949-9700 ext. 100
                  or
                  Smith & Wesson Corp.
                  Ken Jorgensen, 413/747-3299
                  or
                  Investor Relations
                  Christensen
                  Patty Bruner, 480/614-3009
                  http://www.smithandwesson.com

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SOURCE: Smith & Wesson Holding Corporation