Exhibit 1

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                     ROYAL PRECISION TERMINATES NEGOTIATIONS
                            TO ACQUIRE PH GROUP INC.
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                              FOR IMMEDIATE RELEASE

Contact:    THOMAS A. SCHNEIDER, President and Chief Operating Officer
            KEVIN L. NEILL, Vice President - Finance and Chief Financial Officer
            Royal Precision, Inc. (480) 627-0200
            INTERNET: WWW.ROYALPRECISION.COM

            RCG Capital Markets Group, Inc. (480) 675-0400
            RETAIL: JIM ESTRADA, BRETT MAAS
            ANALYSTS/INSTITUTIONAL: JOE DORAME
            MEDIA: JEFF STANLIS
            INTERNET: WWW.RCGONLINE.COM

(NOVEMBER 28, 2000) - SCOTTSDALE, Arizona - Royal Precision, Inc. (Nasdaq: RIFL)
announced  today that it has  terminated  the  non-binding  letter of intent and
discontinued  negotiations  with  PH  Group  Inc.  (OTC  Bulletin  Board:  PHHH)
regarding the potential  acquisition announced September 28, 2000. In connection
with the  termination  of the  letter of  intent,  Royal  Precision's  option to
acquire up to 500,000 shares of PH Group common stock has also been  terminated.
PH Group is a manufacturer of hydraulic  presses and injection  molding machines
for  applications in metal working,  compression  molding and plastic  injection
molding.

Thomas A. Schneider,  President and Chief Operating Officer, commented "Although
we  ultimately  determined  this  opportunity  was  not  in the  Company's  best
interests,  we will continue to look for  additional  opportunities  to grow our
business and increase shareholder value."

Royal  Precision,  Inc. is a leading  designer and  manufacturer of high-quality
innovative  golf  club  shafts,  including  the  Rifle(R)  shaft  featuring  the
Company's "Frequency  Coefficient  Matching"  technology,  or "FCM," designed to
provide  consistent  flex  characteristics  to all the clubs in a golfer's  bag.
Royal  Precision,  Inc. is also a designer and distributor of Royal Grip(R) golf
club grips offering a wide variety of standard and custom  models,  all of which
feature durability and a distinctive feel and appearance.

THIS PRESS RELEASE  INCLUDES  STATEMENTS  WHICH MAY CONSTITUTE  FORWARD  LOOKING
STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISION OF THE PRIVATE  SECURITIES
LITIGATION REFORM ACT OF 1995. THESE STATEMENTS, WHICH USUALLY CONTAIN THE WORDS
"BELIEVE,"  "EXPECT,"   "ANTICIPATE,"  OR  "WILL,"  ARE  SUBJECT  TO  RISKS  AND
UNCERTAINTIES  THAT COULD CAUSE  ACTUAL  RESULTS TO DIFFER  MATERIALLY  FROM THE
FORWARD  LOOKING  STATEMENTS.  FACTORS THAT WOULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THE FORWARD LOOKING STATEMENTS INCLUDE,  BUT ARE NOT LIMITED TO,
RISKS RELATED TO THE COMPANY'S DEPENDENCE ON DISCRETIONARY CONSUMER SPENDING AND
DEMAND FROM ORIGINAL  EQUIPMENT  MANUFACTURERS,  THE COMPANY'S LIMITED OPERATING
HISTORY,  THE  TIMELINESS  AND MARKET  ACCEPTANCE OF NEW PRODUCT  INTRODUCTIONS,
COMPETITION, SEASONALITY OF SALES, FLUCTUATIONS IN OPERATING RESULTS, PROTECTION
OF INTELLECTUAL  PROPERTY RIGHTS,  SUPPLY DELAYS,  USE OF THIRD PARTY SUPPLIERS,
CUSTOMER  CONCENTRATION  AND OTHER FACTORS DETAILED IN THE COMPANY'S  SECURITIES
AND EXCHANGE COMMISSION FILINGS.

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