Smith & Wesson Brand Returns to Auto Racing; Sponsors Father-Son Luyendyk Team for Two Indianapolis Events

    SCOTTSDALE, Ariz.--May 14, 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 Arie Luyendyk, Jr. for the upcoming IRL Infiniti Pro Series Freedom 100 on Saturday, May 17th at Indianapolis Motor Speedway and Arie Luyendyk Sr. for the 2003 Indianapolis 500 on May 25th.
    Luyendyk Jr., son of two-time Indianapolis 500 champion Arie Luyendyk Sr., finished second in the 2002 Infiniti Pro Series championship. Luyendyk, 21, captured the pole for the Michigan 100 and earned four second-place finishes in seven races. Luyendyk Sr. is best known for his sensational 1990 and 1997 Indianapolis 500 victories and a long-standing, distinguished career in many forms of racing.
    "It's an outstanding opportunity to get the Smith & Wesson brand exposed to the auto racing demographic. Our brand research indicates that this market group clearly aligns with our brand attributes of quality, craftsmanship, safety and security," said Corey Lambrecht, executive vice president of Smith and Wesson Holding Corporation.
    Arie Luyendyk Sr. said he is excited about partnering with the Smith & Wesson brand name. "Smith & Wesson is a very respectable company that has been around for so long, we hope to emulate the Company's success."
    Luyendyk Jr. adds, "Plus there's the cool factor. I get to drive around with the Smith & Wesson name on my car."
    The Smith & Wesson sponsorship includes the Smith & Wesson logo on the engine cover of the car driven by Arie Luyendyk Jr. during the Freedom 100 and on the helmet of Arie Luyendyk Sr. during the 2003 Indianapolis 500.
    For more race information go to: http://www.indyracing.com/pro/schedule/ for the Freedom 100 airing at 3:00pm EDT on May 17 (LIVE) on ESPN2 or www.indy500.com for information on the Indianapolis 500.

    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: development of licensing and branding 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