EXHIBIT 99.3
                                                                    ------------

FOR IMMEDIATE RELEASE                       Contact: Michael B. Perrine
- ---------------------                                Chief Financial Officer
                                                     (512) 347 - 8787 Ext 119

TRAVIS BOATS FILES FOR TRANSFER TO NASDAQ SMALL CAP MARKET

AUSTIN,  TEXAS  (October 8, 2002) - Travis  Boats & Motors,  Inc.  (Nasdaq/TRVS)
reported that it has filed an application with the NASDAQ Stock Market,  Inc. to
transfer its outstanding  common shares to the NASDAQ Small Cap Market effective
as of October 23,  2002.  The  application  for transfer to the NASDAQ Small Cap
Market was filed based on the Company  receiving notice from the NASDAQ that the
Company is not compliant with the minimum required Market Value of Publicly Held
Shares (MVPHS).  Among other factors,  to maintain status on the NASDAQ National
Market, the MVPHS, or market value of all shares, excluding those shares held by
a  company's  officers,  directors  and 10%  shareholders,  must equal a minimum
combined  market value of  $5,000,000.  The Company's  significant  ownership of
common shares by its officers,  directors and 10% shareholders combined with the
decline in its share price has resulted in a MVPHS below required levels.

Upon consideration of the factors involved,  the Company has elected to transfer
from the NASDAQ National Market and,  consequently  has filed an application for
the listing of its common shares on the NASDAQ Small Cap Market.  Based upon the
Company's  review,  it would be compliant with  requirements for transfer to the
NASDAQ Small Cap Market.  The Company's  ticker symbol would remain unchanged as
"TRVS".

Michael B.  Perrine,  Chief  Financial  Officer of Travis Boats noted,  "At this
stage,  the  transfer  of our common  shares to the Small Cap  Market  would not
require any  alteration of the mechanics of trading our stock in that the ticker
symbol  remains  unchanged  and it is quoted as any other NASDAQ  security."  He
further noted,  "Our common shares currently trade at a discount to our tangible
net worth.  This,  combined  with the  significant  ownership  positions  of our
directors,  officers and major stockholders has made it difficult to continue to
meet the MVPHS test and therefore  more  attractive for us to apply for transfer
to the NASDAQ Small Cap Market."

Travis Boats & Motors,  Inc., is a leading  multi-state  superstore  retailer of
recreational  boats,  motors,  trailers and related  marine  accessories  in the
southern United States. The Company operates store locations in Texas, Arkansas,
Oklahoma, Louisiana, Alabama, Tennessee,  Mississippi, Georgia and Florida under
the    name    Travis    Boating    Center.    The    Company's    website    is
www.travisboatingcenter.com.

Cautionary  Statement  for  purposes of the Safe Harbor  Provisions  of the 1995
Private Securities  Litigation Reform Act. The statements in this document or in
documents  incorporated  by reference  herein that are not historical  facts are
forward-looking  statements  as  that  term is  defined  in  Section  21E of the
Exchange Act that involve a number of risks,  assumptions or uncertainties.  The
actual results of the future events could differ materially from those stated in
such  forward  looking  statements.  Among the factors  that could cause  actual
results to differ materially are: the impact of seasonality and weather, general
economic conditions and the level of discretionary  consumer spending,  national
or  local  catastrophic  events,  the  identification  of new  markets  and  the
Company's   ability  to  integrate  new  stores  and  personnel   into  existing
operations.  These and numerous other risk factors were identified in the Report
on Form 10-K filed for fiscal year 2001 and other documents filed of record.  We
undertake  no  obligation  to  release  any  revisions  to any  forward  looking
statements