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                                                                    EXHIBIT 99.4

ESCALADE SPECIAL MEETING OF STOCKHOLDERS ADJOURNED UNTIL
           DECEMBER 18, 1998; NEW DISCUSSIONS WITH SPORTCRAFT PROCEED


         EVANSVILLE, INDIANA, September 30, 1998 (Nasdaq: ESCA) -- Escalade,
Incorporated ("Escalade") today announced the actions taken on September 29,
1998 upon reconvening its Special Meeting of Stockholders originally commenced
on September 15. Escalade's management informed stockholders that Escalade has
commenced discussions with Sportcraft, Ltd. ("Sportcraft") to explore ways in
which the sale of the Escalade Sports assets to JEN Sports, Inc., a wholly owned
Sportcraft subsidiary, could proceed on revised terms mutually acceptable to all
parties. Although no definitive revisions have been agreed upon, Escalade and
Sportcraft have agreed that neither party will terminate the existing asset
purchase agreement prior to November 2, 1998 and that discussions between them
will continue.

         Pending the outcome of these ongoing discussions, Escalade's
stockholders again approved the adjournment of the Special Meeting, this time to
December 18, 1998 at 9:00 a.m. Central Time at Escalade's principal executive
offices in Evansville, Indiana. Escalade anticipates that, if a revised
agreement with Sportcraft is reached on or about November 2, it will prepare and
distribute supplemental proxy materials in advance of the December 18 reconvened
meeting such that Escalade's stockholders would them be asked to approve a
revised transaction at that time. If revised terms are not agreed upon, Escalade
anticipates that the Special Meeting would be cancelled and that the parties
will waive their potential claims against each other under the asset purchase
agreement upon any termination of the asset purchase agreement.

         Escalade, Incorporated, based in Evansville, Indiana, produces and
sells sporting goods products through Escalade Sports. Escalade also produces
and sells office and graphic arts products through Martin Yale Industries, Inc.
Escalade and its predecessors have produced sporting goods for over 70 years and
have produced office machines for over 40 years.

Contact: Robert E. Griffin or John R. Wilson