Word of the Day

Exchange-Traded Fund

In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.

Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will rise and fall in value pretty much the same amount as the Dow or S&P.

You can also buy ETFs that invest in other types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few years, so there is no shortage of ETFs to invest in.

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Wednesday, July 02, 2008

Golfsmith International Holdings, Inc. Appoints Robert E. Allen to Board of Directors; Regains Compliance with Nasdaq Independent Director Requirements

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Comtex

AUSTIN, Tex., Jul 02, 2008 (BUSINESS WIRE) ----Golfsmith International Holdings, Inc. (Nasdaq: GOLF) announced the appointment of Robert E. Allen to fill a vacancy on its Board of Directors to serve until the next annual meeting of shareholders. In addition to serving as a Director, Mr. Allen has also been appointed to the Audit Committee.

Mr. Allen qualifies as an independent director under Nasdaq Marketplace Rule 4350 which requires a listed company to have an audit committee of at least three independent directors. Upon Mr. Allen's appointment, the Company received notification from Nasdaq that it had regained compliance with Rule 4350 and was therefore in compliance with all Nasdaq listing standards.

Mr. Allen was founder, and since 1982 has served as Managing Director, of Redding Consultants. His experience combines extensive management with over twenty years of consulting with McKinsey & Company, Inc. and Redding Consultants. His non-consulting experience includes having been Senior Vice President of Emery Worldwide (overnight airfreight) where he was responsible for international operations and U.S. sales and marketing. Previous to this, he served as Chief Marketing Officer of Genesco, Inc. (footwear, specialty retailing and apparel). Early in his career, Mr. Allen worked for Hans Schwartzkopf GmbH (personal care products) and Liggett and Myers (liquors and tobacco).

Mr. Allen serves on the Board of J. Roberts and Son, a UK manufacturer of luxury goods. He is also a former Board member of EDO Corporation, a defense contractor, Pioneer Companies, Inc., a manufacturer of Chlor Alkali and related products, Bic Corporation, an international consumer goods company and Goodwin Biotechnology, a manufacturer of monoclonal antibodies. As a Board member, he has served for over fifteen years on various Audit Committees and has been the Chairman of three Special Committees (Sale/Merger), two Compensation Committees, and one Governance and Nominating Committee.

About Golfsmith

Golfsmith International Holdings, Inc. (NASDAQ:GOLF) is a specialty retailer of golf and tennis equipment, apparel and accessories. The company operates as an integrated multi-channel retailer, offering its guests the convenience of shopping in its 72 stores across the United States, through its Internet site and from its assortment of catalogs. Golfsmith offers an extensive product selection that features premier branded merchandise, as well as its proprietary products, clubmaking components and pre-owned clubs.

Cautionary Language

Certain statements made in this news release are forward-looking in nature and, accordingly, are subject to risks and uncertainties. These forward-looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, those discussed in our Form 10-K, filed March 6, 2008 under the caption "Risk Factors."

SOURCE: Golfsmith International Holdings, Inc.

Golfsmith International Holdings, Inc., Austin Investor Relations: Joe Teklits/Jean Fontana, 203-682-8200 investor.Relations@golfsmith.com
   www.icrinc.com