Sport Supply Group, Inc. announced results for the three and six months ended September 26, 2003.

Revenues remained relatively the same for the three and six months ended September 2003. Gross profits as a percentage of revenues declined from 30.7% and 30.5% to 28.2% and 28.3% for the three and six months ended September 2003 and September 2002, respectively, primarily due to aggressive competitive pricing and increased importing costs. Selling, general and administrative expenses continue to show significant reductions from the prior year due to the effects of previously implemented and ongoing cost reduction programs. Net income (loss) from continuing operations showed a $41,000 and $108,000 decline for the three and six months ended September 2003.

During the September quarter, the Company began closing certain of its team dealer operations, with the sale of substantially all the assets (other than accounts receivable) of its team dealer located in Little Rock, Ark. This sale resulted in a year-to- date after tax charge to earnings of $289,000. Subsequent to the September quarter, the Company discontinued its team dealer operations in Enid, Okla. and Wichita, Kan. The prior year six-month period reflects a one-time, $7.4 million non-cash charge associated with the cumulative accounting effect of implementing Financial Accounting Standards Board Statement 142 (Accounting for Goodwill and Other Intangible Assets).

Geoffrey P. Jurick, Chairman & Chief Executive Officer and President of Sport Supply Group, Inc. stated, “We are pleased with the revenue stabilization and continued operating cost efficiencies at Sport Supply Group. We believe the future closing of our Oklahoma and Kansas team dealer locations will enable us to focus more resources on our core institutional sporting goods market.”

Sport Supply Group is a leading direct marketer and B2B e-commerce supplier of sporting goods equipment to the institutional and youth sports market place. Athletes, coaches and instructors in schools, colleges, universities, governmental agencies, camps and youth organizations across the country use the Company's products.

            SPORT  SUPPLY  GROUP,  INC.  AND  SUBSIDIARIES
               CONSOLIDATED  STATEMENTS  OF  OPERATIONS
                             (UNAUDITED)


                      Three Months Ended         Six Months Ended
                    September    September    September    September
                       2003         2002         2003         2002
                   ------------ ------------ ------------ ------------
Net revenues       $25,896,678  $25,544,214  $51,687,793  $51,951,454
Cost of sales       18,585,257   17,696,357   37,044,925   36,088,743
                   ------------ ------------ ------------ ------------
Gross profit         7,311,421    7,847,857   14,642,868   15,862,711
Selling, general &
 administrative
 expenses            7,213,591    7,693,840   14,171,971   15,187,774
Operating income        97,830      154,017      470,897      674,937
Interest expense      (150,080)    (147,095)    (299,518)    (315,224)
Other income
 (expense), net         (1,447)       3,953       11,741       (3,994)
                   ------------ ------------ ------------ ------------
Income before
 income taxes,
 discontinued
 operations and
 cumulative effect
 of accounting
 change                (53,697)      10,875      183,120      355,719
(Provision for)
 benefit of income
 taxes for
 continuing
 operations             19,868       (4,024)     (68,909)    (133,931)
Income from
 continuing
 operations            (33,829)       6,851      114,211      221,788
Discontinued
 operations, net
 of tax               (256,428)      15,374     (289,425)      10,158
Cumulative effect
 of accounting
 change                     --           --           --   (7,442,432)
                   ------------ ------------ ------------ ------------
Net income (loss)    $(290,257)     $22,225    $(175,214) $(7,210,486)
                   ============ ============ ============ ============

Basic earnings
 (loss) per share:
  Income from
   continuing
   operations           $(0.00)       $0.00        $0.01        $0.02
  Discontinued
   operations            (0.03)        0.00        (0.03)        0.00
  Cumulative
   effect of
   accounting
   change                 0.00         0.00         0.00        (0.83)
                   ------------ ------------ ------------ ------------
  Basic loss per
   share                $(0.03)       $0.00       $(0.02)      $(0.81)
                   ============ ============ ============ ============

Diluted earnings
 (loss) per share:
  Income from
   continuing
   operations           $(0.00)       $0.00        $0.01        $0.02
  Discontinued
   operations            (0.03)        0.00        (0.03)        0.00
  Cumulative
   effect of
   accounting
   change                 0.00         0.00         0.00        (0.83)
                   ------------ ------------ ------------ ------------
  Diluted loss per
   share                 $0.03)       $0.00       $(0.02)      $(0.81)
                   ============ ============ ============ ============