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                                   QUADRAX
                                        Advanced Materials Systems

For:     Quadrax Corporation
Contact: Edward A. Stoltenberg
         401-683-6600

                                        FOR IMMEDIATE RELEASE

          QUADRAX COMPLETES ACQUISITION OF LION GOLF OF OREGON, INC.

PORTSMOUTH, RI, January 3, 1996... Quadrax Corporation (NASDAQ:QDRX) announced
today the completion, on December 28, 1995, of its previously announced
acquisition of Lion Golf of Oregon, Inc. Lion Golf, formerly a privately-held
brand marketer of value priced golf putters, drivers, irons and accessories, is
expected to report revenues of approximately $3.5 Million for its 1995 fiscal
year just ended. This will bring 1995 revenues for the combined entities, when
reported on a pro forma basis, to over $7.5 Million. Terms of the acquisition
are favorable to Quadrax, since payment of the purchase price is directly
related to the profitability of the Lion Golf operations.

The Lion Golf operations will assume Quadrax's existing McManis Sports
Associates golf business, as well as the Wimbledon tennis operations, to form a
new Quadrax Sports Consumer Products Division. This new division will be headed
up by Kim Cole, founder and driving force behind the success of Lion Golf, who
will assume the role of Chief Executive Officer at Quadrax Sports. The combined
businesses will be headquartered at the facilities of Lion Golf in Bend,
Oregon.

Mr. Cole was quoted as saying, "I have enjoyed over 15 years of success as an
independent owner/operator in the golf club business, but the industry is
changing rapidly. Big names that were unheard of when I started in this
business have emerged as major national, and even international brands. At the
same time, national sporting goods chains are redefining the way sports
enthusiasts buy their equipment. Golf has become Big Business."

Mr. Cole continued, "I'm excited to be merging with Quadrax Corporation because
it will give Lion Golf the financial depth and the technology edge needed to
play and win by the new rules of national sporting goods distribution. The
addition of the existing quadForce club designs, together with the other new
designs planned for introduction later this year, will extend the Lion lines
into the premium and ultra-premium product categories. This expanded product
line, driven by cutting edge Quadrax materials technology, will enable us to
add new channels of distribution, as well as increase our presence in our
established markets."

Quadrax Corporation
300 High Point Avenue, Portsmouth, RI 02871
Tel: (401) 683-6600  -  Fax: (401) 683-6606

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Mr. Cole further stated, "I will be introducing the new Quadrax Sports Consumer
Products Division to my friends and associates in the sporting goods industry
at the upcoming PGA Show in Orlando, and at the Supershow in Atlanta, where we
will also be unveiling three new additions to our CONQUEROR brand of quadrax
tennis racquets. Look also for a string of exciting new golf club designs to be
introduced throughout the 1996 playing season, as we position quadrax material
as the new force in golf...and tennis."

Jim Palermo, Chairman and Chief Executive of Quadrax Corporation was also
quoted as saying, "We are pleased to be adding the Cole family to our team at
the new Quadrax. Kim and his son, Jim, who will be serving as President of our
Quadrax Sports, have the kind of entrepreneurial spirit and specialized product
distribution expertise that will be key to our success at Quadrax as we move
aggressively to build shareholder value in 1996 and beyond".

Mr. Palermo continued, "The merger of Quadrax Sports and Lion Golf is important
to Quadrax and its shareholders for many reasons. First, it gives us a solid
base of recurring revenues upon which to build future growth. Second, it saves
us a minimum of $1.5 Million in captial that we would otherwise have to spend
to build our own distribution network for our quadForce products. Third, it
gives us instant presence, nationwide, that would otherwise have taken us many
months to build. Fourth, it not only gives us a marketing and distribution
solution for our proprietary golf products, but also gives us a distribution
solution for our Wimbledon CONQUEROR tennis racquets. We see signs that the
tennis industry is recovering and the Lion acquisition will help position us to
take advantage of the rebound."

Mr. Palermo concluded, "1996 is shaping up as an exciting year for Quadrax
Corporation. The investiture of our Quadrax Sports unit with an established
distribution network marks the consummation of initiatives into consumer brand
marketing that began in 1995. This new Consumer Products Division will parallel
ongoing efforts to introduce Quadrax material into high performance sporting
goods through strategic alliances with established brand marketers, such as
Brine (lacrosse and soccer) and Cannondale (bicycles). Through a carefully
coordinated program of internal initiatives and future strategic acquisitions,
some of which are presently under evaluation, we expect to establish Quadrax
Sports as a new force in sporting goods and position Quadrax Corporation for
rapid expansion into other markets."


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Quadrax Corporation is a 21st Century Materials Company that makes and markets
products made using its proprietary thermoplastic composite fabrication and
manufacturing processes.