Sport Supply Group, Inc. And Collegiate Pacific

Terminate Merger Agreement

Collegiate Pacific Increases Ownership

Interest in Sport Supply Group, Inc.

Dallas, Texas Tuesday, November 22, 2005 Sport Supply Group, Inc. (Pink Sheets: SSPY.PK), announced today that it and Collegiate Pacific, Inc. (AMEX: BOO) have terminated the Merger Agreement entered into by the parties on September 7, 2005 pursuant to which Collegiate Pacific would acquire the remaining 47% ownership interest in Sport Supply Group. Sport Supply Group and Collegiate Pacific jointly concluded that consummation of the merger in a timely fashion under the agreed upon terms was highly unlikely. Pursuant to the Termination Agreement, Collegiate Pacific has agreed to reimburse Sport Supply Group for all fees and expenses reasonably incurred by Sport Supply Group in connection with the Merger Agreement in an amount not to exceed $350,000. The Termination Agreement was approved by the Board of Directors of each company.

In addition, Collegiate Pacific announced today that it purchased an additional 1.66 Million shares of Sport Supply Group for approximately $9.2 Million in cash from an institutional holder. This purchase increases Collegiate Pacific’s ownership interest to approximately 72% of the issued and outstanding shares of Sport Supply Group.

Sport Supply Group is a leading direct marketer and B2B e-commerce supplier of sporting goods and physical education 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 our products.

For more information about Sport Supply Group and for complete financial statements, please visit www.sportsupplygroup.com.