Ashworth, Inc. named Allan Fletcher CEO,
effective immediately. In addition, the company appointed Greg Slack
CFO. Peter Weil, former Ashworth CEO, has resigned to spend more time
with his family on the East Coast. Weil will continue to provide
consulting services during the 90 days following his departure. Eric
Hohl, former EVP, CFO and treasurer, has also left Ashworth.

“We are delighted to welcome Allan to lead the
Ashworth team,” said David Meyer, chairman of Ashworth. “As the founder
and chairman of Fletcher Leisure Group – a long-standing business
partner of Ashworth and Canada's leading supplier of branded golf
apparel, sportswear and golf equipment – Allan has proven that he has
exceptional insight into our business. With more than 40 years of
experience in the golf apparel industry, Allan is uniquely qualified to
help Ashworth further capitalize on the progress it is making. Mr.
Fletcher also has a true love of golf which was instilled in him by his
father, Pat Fletcher, who was a golf professional at The Royal Montreal
Golf Club and winner of the 1954 Canadian Open at Point Grey Golf Club.”

Fletcher commented, “As passionate players know, the
game of golf is all about precision, patience and dedication.
Ashworth's management will be focusing on these qualities once again
and build on its strong, authentic golf brand. We will pay close
attention to details and make certain everything we do corresponds to
the highest standards in the industry.”

After his appointment as CEO of Ashworth, Fletcher
will retain a significant ownership interest in Fletcher Leisure Group.
To ensure proper corporate governance practices, the board of Ashworth
has charged Edward Fadel, president of Ashworth, with the
responsibility for overseeing Ashworth's business relationship and
contracts with Fletcher Leisure Group and reporting on these matters
directly to the Board.

Ashworth and Fletcher entered into an employment
agreement on October 24, which provides, among other matters, for an
annual base salary of $1.00, an option to purchase 100,000 shares of
the company's common stock at an exercise price equal to the fair
market value of the company's common stock on the grant date (with 50%
of the options vesting on each of the first two anniversaries of the
grant date) and a target bonus of $500,000 (depending upon achievement
of company and individual objectives for fiscal year 2008). Option
vesting will accelerate upon either the company's termination of
Fletcher's employment without cause or as a result of a change in
control. The option exercise period for vested options will extend
until the earlier of one year after termination of employment for any
reason or ten years after the grant date.

Meyer concluded, “We are also very pleased to
welcome Greg Slack back to Ashworth in his new position as Chief
Financial Officer. Greg has previously proven to be an invaluable
member of the Ashworth executive management team, and we are confident
in his leadership capabilities as he assumes this important
responsibility. We also greatly appreciate the contributions of Peter
Weil and Eric Hohl and wish them the best in their future endeavors.”