Coastcast Corporation and Jonathan Vannini Announce Settlement

     RANCHO DOMINGUEZ, Calif.--Nov. 9, 1998--Coastcast Corporation (NYSE:PAR) 
and Jonathan Vannini today announced as part of an overall settlement between 
them that Vannini has withdrawn his  demand for a special meeting of 
shareholders of Coastcast and that the litigation between them has been 
settled. 

     The vacancy on the board of directors created by the resignation  of  
Richard W. Mora as an officer and director of Coastcast has been filled by 
the election of Vannini to serve as a director of Coastcast.  Vannini will 
also be included on the slate of director-nominees of the board of directors 
of Coastcast for election at the 1999 and 2000 annual meetings of 
shareholders for as long as he continues to own not less than 8% of the 
outstanding common stock of Coastcast.  In addition to Vannini, the slate of 
director-nominees of the board of directors for election at the 1999 and 2000 
annual meetings of shareholders will include one person selected by the board 
of directors subject to the approval of Vannini.  

     Vannini has withdrawn his demand for a special meeting of shareholders 
of Coastcast.  He has agreed that until August 31, 2000 he will refrain from 
soliciting proxies or initiating or participating in efforts to affect 
control or influence the affairs of Coastcast.  He has also agreed to vote 
his Coastcast shares at all meetings of shareholders of Coastcast during that 
period in the same proportions as the votes cast by other shareholders.

     Coastcast and Vannini have agreed to dismiss the litigation between 
them, including  Vannini's counterclaim against Coastcast and Hans Buehler, 
Chairman and Chief Executive Officer.  The parties have also exchanged 
releases of all claims relating to the litigation and Vannini's ownership of 
Coastcast shares.  Coastcast has agreed to reimburse Vannini the sum of 
$400,000 for a portion of the expenses incurred by him in connection with the 
proposed special meeting of shareholders and the related litigation.  

     Buehler stated:  "We are pleased to have resolved the differences with 
Mr. Vannini so that the management of Coastcast may devote undivided 
attention to running the company's business.  We credit Mr. Vannini with 
focusing attention on some important compensation issues which has resulted 
in substantial cost reductions to the company.  I expect him to make 
additional contributions to Coastcast's future as a member of our board."

     Buehler further stated:  "Within the last several months, the board of 
directors has rescinded amendments to the company's two stock option plans 
which were approved at the 1998 annual meeting of shareholders, amended those 
plans to preclude repricing of options without shareholder approval, and 
curtailed  the company's supplemental executive retirement plan which will 
result in substantial savings to Coastcast.  I personally have voluntarily 
relinquished all of my rights under that plan and reduced my annual salary 
rate by 20%.  Compensation of other salaried employees has also been reduced."

     Vannini added: "I am pleased by the actions taken by Mr. Buehler and the 
Coastcast board in response to my recommendations.  They have justified the 
confidence I have shown in the Company by my substantial investment in 
Coastcast stock.  I look forward to working with the directors of Coastcast 
in an effort to enhance shareholder value."

     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, Daiwa, Odyssey, 
Taylor Made, Titleist and Wilson. The Company also manufactures a variety of 
investment-cast orthopedic implants and surgical tools that are made to 
customer specifications.

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     CONTACT:  Coastcast Corp.,  Rancho Dominguez
               Hans H. Buehler, 310/638-0595