Product Liability Verdict Against Bell Sports Corp.
in Pennsylvania and Class Action Lawsuit Filed in
Delaware to Enjoin Pending Merger

SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 23, 1998--Bell Sports Corp.
(NASDAQ:BSPT, BSPTG) today announced that on February 20, 1998 a jury in a
product liability action in a state court located in Wilkes-Barre,
Pennsylvania returned a verdict of approximately $6.8 million against the
Company.

The verdict relates to injuries sustained in a 1993 motorcycling accident
involving a motorcyclist wearing a helmet manufactured by the Company in 1989.
The Company sold its motorcycle helmet business in June 1991. The action
relates to a period during which the Company was self-insured for product
liability claims.

The Company intends to file post-trial motions to set aside the jury's
verdict and to appeal any judgment against the Company that might be entered
in the action. Because the ultimate outcome of the matter, and amounts, if
any, that the Company might be required to pay can not be determined, no
reserves have been established.

Separately, the Company announced that a purported class action lawsuit
has been filed in Delaware Chancery Court seeking primarily to enjoin the
Company's proposed merger with HB Acquisition Corporation announced on
February 17, 1998. The complaint, which was filed by Jeffrey Kaplan, a
purported stockholder of the Company, names the Company, HB Acquisition
Corporation, Chase Capital Partners, CB Capital Investors and the Company's
directors as defendants.

The complaint alleges, among other things, that the proposed merger is
unfair to the Company's public stockholders and that certain defendants who
are expected to exchange a portion of their Bell equity interests for equity
in HB Acquisition Corporation in connection with the transaction have a
conflict of interest which has caused them, and the Company's directors, to
breach their fiduciary duties to the Company's stockholders. The Company
believes that the allegations contained in the complaint are without merit and
intends to vigorously defend the action.

Headquartered in San Jose, California, Bell Sports is a leading
manufacturer and marketer of bicycle helmets, bicycle accessories and auto
racing helmets and sells snowboard and ski helmets. Bell Sports markets its
products under the brand names: Bell, Giro, Rhode Gear, VistaLite, Blackburn,
BSI, Bike Star, Copper Canyon and Cycle Products.

Bell Sports http://www.bellsports.com/