LIFETIME PRODUCTS STATEMENT IN RESPONSE TO FINE LEVIED BY CPSC

March 29, 2004

CLEARFIELD, UTAH - “The problem in question occurred when customers disregarded the instructions and over-tightened the bolt. The instructions warned against this because the over-tightening would indent the pole, causing damage to the pole which led the bolt to protrude past the end of the bolt.”

“Our in-house product tests showed that our basketball systems passed all ASTM standards and there was no protruding danger when properly assembled. The ASTM (American Society for Testing and Materials) provides international safety standards for our industry – specifically the manufacture, assembly, recommended maintenance and use of complete residential basketball systems.”

“We provided our ASTM testing information to CPSC in March 2000, we got no response from CPSC in regards to our testing results.”

“In June 2000, we added cap nuts to the system to protect the end of the bolt IN CASE the customers disregarded our instructions (which passed ASTM Standards) and over-tightened the bolt.”

“The CPSC did not require a recall until nearly two years after we had added the cap nuts to the system.”

“We maintain that the bolt, when assembled correctly, does not protrude and was not defective.”

For more information on Lifetime or its products, contact Communications Manager Phil Mickey at (801) 776-1532 ex. 1239 or e-mail pmickey@lifetime.com.