Galyan's Trading Company, Inc. Announces Initial Public Offering

Plainfield, IN, June 26, 2001 - Galyan’s Trading Company, Inc. (Nasdaq: GLYN) today announced that it has priced its initial public offering of 6,500,000 shares of common stock at a price of $19.00 per share. The shares will commence trading tomorrow on the NASDAQ National Market under the symbol “GLYN”.

Goldman, Sachs & Co. is acting as sole book runner and joint lead manager for the offering. Salomon Smith Barney is also acting as joint lead manager for the offering. Banc of America Securities LLC and J.P. Morgan Securities, Inc. are acting as co-managers for the offering. Galyan’s has granted the underwriters the option to purchase an aggregate of 975,000 additional shares to cover over-allotments, if any.

Galyan’s is a specialty retailer that offers a broad range of products that appeal to consumers with active lifestyles, from the casual consumer to the serious sports enthusiast. Galyan’s operates 22 stores in 12 states and offers outdoor and athletic equipment, apparel, footwear and accessories, as well as casual apparel and footwear. A copy of the final prospectus with respect to this offering may be obtained from Goldman, Sachs & Co., 85 Broad Street, Concourse Level, New York, New York 10004, Attn: Prospectus Department.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Contact: Joan Hurley - Sr. Vice President Marketing: (317) 532-0200, Ext. 1510

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