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SMITH & WESSON 50-CALIBER WINS HANDGUN OF THE YEAR

Press Release

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SCOTTSDALE, Ariz., (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