http://www.blount.com/segclose.html

Contact: Richard H. Irving, III
Sr. Vice President, General Counsel
(334) 244-4340
Release: Immediately

Blount International Completes Sale of Sporting Equipment Group to Alliant Techsystems

MONTGOMERY, AL, December 10, 2001� Blount International, Inc. [NYSE: BLT] ("Blount"), a diversified manufacturer of outdoor products, industrial equipment and sporting goods, announced the completion of the sale of Blount�s Sporting Equipment Group ("SEG") to Alliant Techsystems, Inc. ("ATK") for 3,048,780 shares of ATK common stock and $10,000 of cash. Immediately following this sale, a secondary offering of the ATK shares was arranged by Lehman Brothers, Inc. and Credit Suisse First Boston Corporation for gross proceeds of approximately $237 million. In keeping with our strategic plan, and in accordance with our contractual obligations, net proceeds have been used to reduce term loan debt under our senior secured credit facility. We will now focus on the Outdoor Products Group and Industrial and Power Equipment Group, both leaders in their respective marketplaces. We also obtained an amendment to our $500 million senior credit facility that, among other things, provides for appropriate financial ratio covenants for the next two years.

Headquartered in Montgomery, Alabama, Blount International, Inc. is a diversified international company operating in two principal business segments: Outdoor Products; and Industrial and Power Equipment. Blount International, Inc. sells its products in more than 100 countries around the world. For more information about Blount International, Inc., please visit our website at

Forward-looking statements in this release, including without limitation the Company�s "expectations," "beliefs" and their variants, as defined by the Private Securities Litigation Reform Law of 1995, involve certain risks and actual results subsequent to the date of this announcement may differ materially.

Having been through a couple of these "takeovers", I'm going to gulp a bit , but not hold my breath. Rockwell took over North American Aviation ostensibly to "diversify". Being a heavy industry concern, their "bottom-line" mentality did not mesh at all with rocket engine research, development, or manufacturing. When they sold out to Boeing we breathed a sigh of relief, thinking that being an aerospace company, things would be different. Not so. The acquistion was to obtain more manufacturing capability for their aircraft production. Soon, there were more airplane parts in the plant than rocket engine parts. For other than Space Shuttle engine commitments, rocket engine R & D diminished still further. About then I retired.

There is a ray of hope. Alliant is one of our best suppliers of firearms and ammunition component producers. We'll just have to wait and see.

Good shooting.

Robert

quote:

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Originally posted by GAHUNTER:
I'm just glad I've got some older (current) Speer Manuals .....

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I'm glad I've got older manuals so that I can contrast them with the current sissy loads.

[This message has been edited by John S (edited 12-22-2001).]

I have been an "acquiree" myself, though not in the manufacturing industry. Nevertheless, frequently the acquirer has an agenda and disregards the real strengths and potential of the acquired concern.

Hopefully the fact that both Blount Sporting and Alliant Powder are in the same basic industry will help a lot.

It begs lots of questions...will Speer still manufacture Nitrex ammo, or will all ammo manufacturing go to Federal?? Will Federal still load Nosler Partitions in their Premium line, or only Speer G'Slams, T-Bondeds, etc?

In the end, the market will likely prevail; whatever sells will be made & sold.

JohnS, I realize that ATS is different from Alliant Poder, but ATS is the parent company, so they are related. Sometimes that's good, sometimes.......

I am looking forward to the Deep Shocks, I must admit.

BigIron