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Police Firearms Press Release

November 10, 2003

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Smith & Wesson Teams Up with Kerry Earnhardt for NASCAR Event


For Immediate Release - November 7, 2003

Horsepower Meets Firepower at Target House 200 BGN Rockingham Race

Scottsdale, Ariz. - November 7, 2003 - Smith & Wesson Holding Corporation (AMEX: SWB), parent company of the legendary 151-year-old handgun maker, Smith & Wesson Corp., announced today its sponsorship of Kerry Earnhardt for the upcoming Target House 200 NASCAR® Busch Series Race on Saturday, November 8, 2003 at Rockingham. This car will also feature promotion for the world's most powerful revolver - the 500 Smith & Wesson Magnum®.

Known as an outdoorsman and handgun enthusiast, Earnhardt, son of auto racing legend, the late Dale Earnhardt, will be driving the Smith & Wesson sponsored BACE Motorsports no. 74 Chevrolet sporting the Smith & Wesson medallion logo.

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"It's a winning combination with two great legendary names uniting to offer fans an exciting race," said Colton Melby, president and chief operating officer of Smith & Wesson Holding Corporation. "The demographics for NASCAR fans and firearms enthusiasts are very similar and we look forward to a long relationship."

Earnhardt, 33, began his racing career in 1992 racing street stocks against his brother Dale Earnhardt, Jr. and sister Kelley. He has raced in numerous series including Late Models, Goody's Dash, ARCA, NASCAR Busch and Winston Cup. In the 2001 season, Kerry claimed three ARCA Series Victories in only five starts and has been gaining experience in the Busch Series ever since. Earnhardt's Smith & Wesson sponsorship is under consideration for the 2004 season and will include production of a commemorative die-cast collector car from Action Performance Companies, Inc. (NYSE: ATN).

"I am certain the presence of the Smith & Wesson 500 Magnum will be felt on the track when my competitors and the fans see our car," said Earnhardt. "We plan to make our mark this weekend on and off the track with the added Smith & Wesson firepower."

Prior to the race, Melby will present Earnhardt with a commemorative model 500 with serial number KDE00001 (Earnhardt's initials), hand engraved with an inlaid replica of the Smith & Wesson car and Earnhardt's signature.

For more information on this event, visit www.hawk-sports.com . The Target House 200 will be broadcast live at 1:00pm EDT on Saturday, November 8 on TNT, your local MRN Radio affiliate or XM Satellite Radio Channel 144.

The 500 Smith & Wesson Magnum, the most powerful production revolver in the world today, was named "Handgun of the Year" in February by Shooting Industry Magazine. This 50 caliber revolver has generated great interest from the handgun hunting community, collectors and has been very well received by the marketplace with orders exceeding all expectations.

About Action Performance Companies, Inc. Action Performance Companies Inc. (NYSE: ATN) is the leader in the design, promotion, marketing and distribution of licensed motorsports merchandise. The Company's products include a broad range of motorsports-related die-cast replica collectibles, apparel, souvenirs and other sports-related memorabilia. Action Performance markets and distributes products through a variety of channels including the Action Racing Collectables network of wholesale distributors, the Racing Collectables Club of America, QVC, goracing.com, trackside at racing events, direct corporate promotions, mass retail and department stores, specialty dealers and select online retailers. For more information about Action Performance and its many subsidiaries, please visit the company's corporate Web site at www.action-performance.com.

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 handcuffs and other products utilizing its metal working expertise. For more information, visit www.smithandwesson.com.

Safe Harbor Statement

Statements in this press release about the company's future expectations, including 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 in 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 Forms 10-QSB for the quarters ending July 31, 2002, October 31, 2002 and January 31, 2003.

CONTACT:

Media/Investor Relations:
Amy Armstrong, 480/949-9700
aarmstrong@smithandwesson.com

RACING RELATIONS:
Todd Smartt
Hawk Sports Management
704-947-2192
(cell) 704-560-9484

INVESTOR RELATIONS:
Patty Bruner
Christensen
480-614-3009

Smith & Wesson