EX. 99.2

                       [Coastcast Corporation Letterhead]

For Immediate Release                      Contact: Hans H. Buehler, Chairman &
                                                    CEO    (310) 638-0595


      COASTCAST ANNOUNCES SPECIAL DIVIDEND AND ADOPTION OF DIVIDEND POLICY

     Rancho Dominguez, California (October 27, 2000) - Coastcast Corporation
(NYSE: PAR) today announced that its Board of Directors has declared an
extraordinary cash dividend of $5.00 per share of common stock, payable on
January 9, 2001 to shareholders of record as of December 19,  2000.

     In addition, the Board of Directors today approved the adoption of a new
dividend policy pursuant to which the Company will distribute excess cash to
stockholders in regular quarterly dividends. The amount of dividends will depend
upon results of operations and the needs of the business. Currently it is
expected that the first quarterly dividend will be paid in May 2001 and that the
initial quarterly dividend rate will be $0.26 per share.

     Coastcast, a leading manufacturer of golf clubheads, produces metal woods,
irons and putters in a variety of metals, including stainless steel and
titanium. Customers include Callaway, Cleveland, Cobra, Odyssey, Ping, Taylor
Made and Titleist. The Company also manufactures a variety of investment-cast
orthopedic implants and surgical tools and other specialty products that are
made to customers' specifications.

  COASTCAST CORPORATION ~ 3025 EAST VICTORIA STREET, RANCHO DOMINGUEZ, CA 90221



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