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                                  Exhibit 28.1


  THE ARNOLD PALMER GOLF COMPANY ANNOUNCES RECEIPT OF FAIRNESS OPINION
REGARDING PROPOSAL FOR MANAGEMENT-LED BUY-OUT

OOLTEWAH, TENNESSEE, MAY 27, 1999 - The Arnold Palmer Golf Company (OTC Bulletin
Board: APGC) announced today that the Board of Directors has received the
opinion of Scott & Stringfellow, Inc. that, subject to the qualifications
described in their report, the consideration of $1.20 per share offered by APGC
Holdings Company, LLC, pursuant to a proposed cash-out merger of the public
shareholders is fair to the shareholders of the Company from a financial point
of view.

          APGC Holdings Company, LLC, is a closely held company formed by Cindy
L. Davis, President and Chief Executive Officer of The Arnold Palmer Golf
Company, and John T. Lupton and Arnold D. Palmer and certain of their
affiliates.

          The Board of Directors has authorized a special independent committee
to negotiate the terms and conditions of the proposed transaction. The
transaction remains subject to the negotiation and execution of the definitive
merger agreement, approval of the Company's shareholders and certain other
conditions. There can be no assurances that the negotiations will lead to a
definitive agreement or that the transaction will be successfully completed.

          The Arnold Palmer Golf Company manufactures, markets and distributes
golf equipment under the brand names of its three franchise divisions: PALMER;
HOTZ golf bags; and the recently-introduced NancyLopezGolf equipment and
products.

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For further information, please contact:

           Mike Alday, Beth McCombs
           Alday Communications, Inc.
           (615) 791-1535




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