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Smith & Wesson Signs Licensing Agreement With Heritage Safe Co. for Gun Vaults and Safes

Security, Safety and Responsibility Are Key to Smith & Wesson Branding Strategy

SCOTTSDALE, Ariz., Nov. 22 -- Smith & Wesson Holding Corporation (OTC Bulletin Board: SMWS) parent company of the legendary 150-year-old handgun maker, Smith & Wesson Corp., today announced that it has entered a licensing agreement with Heritage Safe Company of Grace, ID for the development, manufacture and distribution of several Heritage safes and vaults that will bear the Smith & Wesson name.

"Heritage Safe Co. is in the top tier of U.S. safe and vault manufacturers and the quality and craftsmanship of the Heritage product line matches the Smith & Wesson standard of excellence," said Mitchell Saltz, chairman and CEO of Smith & Wesson Holding Corporation. "The safes and vaults that will bear the Smith & Wesson name will be designed to protect firearms from theft and unauthorized use and personal items from fire."

"The special edition gun safes and vaults to be designed for Smith & Wesson will feature an authentic, old-west style with the legendary Smith & Wesson Model 1 Gun as part of the emblem," said Troy Neilson, president of Heritage Safe Co. "Heritage has already received a large amount of dealer interest about the Smith & Wesson line and we are honored to be a part of Smith and Wesson's continuing development of responsible safety products for its handgun users."

Heritage will be involved in the manufacture of larger, 300-pound and heavier safes, rather than portable safes like the Smith & Wesson VersaVault(TM) model. Heritage expects to begin taking orders in December 2002.

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 and provides 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 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 the form 10-QSB for the quarter ended July 31, 2002.

For more information on Heritage Safe Company, visit the company's Web site at: http://www.heritagesafe.com

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


Media Relations:
Ken Jorgensen, 413/747-3299
Investor Relations:
Amy Armstrong, 480/949-9700

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