FILED BY: RAWLINGS SPORTING GOODS COMPANY
                          PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933
                          AND DEEMED FILED PURSUANT TO RULE 14A-12
                          OF THE SECURITIES ACT OF 1934
                          SUBJECT COMPANY: K-2 INC
                          COMMISSION FILE NO. 1-04290



This filing relates to the proposed merger between Rawlings Sporting Goods
Company, Inc. (the "Company") and K2 Inc. ("K2") pursuant to the terms of an
Agreement and Plan of Merger, dated as of December 15, 2002, among the Company,
K2 and Lara Acquisition Sub, Inc.

On March 26, 2003, the Company issued the following press release regarding the
proposed merger described above:

         St. Louis, Missouri, March 26th, 2003. Rawlings Sporting Goods Company
         Inc(R). (NASDAQ: RAWL), the number one baseball brand in the world, and
         Major League Baseball Properties have reached a new six-year agreement
         which will allow Rawlings to be the "Official Baseball Supplier" of
         Major League Baseball through 2008. Rawlings has been the exclusive
         supplier of baseballs to MLB since 1977; thus the contract will stretch
         the relationship between Rawlings and MLBP beyond 30 years.

         Rawlings has also reached a new six-year retail licensing agreement
         with Major League Baseball Properties for batting helmets. Rawlings has
         gained the rights to use MLB marks and logos for all 30 Clubs on youth
         and adult batting helmets for retail sale. It will allow for leagues to
         wear the helmets of their favorite professional teams, such as the
         Oakland A's, New York Yankees, St. Louis Cardinals, etc. Helmets will
         be available at retail this spring. This agreement will help build upon
         Rawlings' strength as the number one batting helmet manufacturer.

         "As the official baseball supplier of Major League Baseball, Rawlings
         has long been responsible for one of the most prominent symbols of our
         game," said Howard Smith, Senior Vice President of Licensing for Major
         League Baseball Properties. "Our new licensing agreements ensure that
         our 26-year relationship with Rawlings, which has been a valuable and
         dedicated business partner, will continue for years to come."

         Commenting on the agreement, Steve O'Hara, Chairman and CEO for
         Rawlings Sporting Goods stated, "We are delighted to receive this vote
         of confidence from Major League Baseball as we enter into our new
         agreement with K2 Inc. We intend to honor that trust by continuing to
         produce the finest baseballs in the world."

         The Official Baseball of Major League Baseball produced by Rawlings is
         unique from any other baseball. The balls are manufactured in a wholly
         owned Rawlings facility that is dedicated to the production of Major
         League Baseballs. Each of the baseballs goes through a tightly
         controlled manufacturing process and strict testing procedures to
         ensure the consistency of each Major League Baseball and thus the
         integrity of the game. The leather for every Major League Baseball


                                       1


         comes from Rawlings' tannery in Tennessee and each baseball is hand
         sewn with 108 individual stitches.

         In addition, Rawlings plans to support the relationship with marketing
         communication efforts that encourage consumers to use an official
         Rawlings Major League baseball when getting autographs, purchasing
         memorabilia, etc. Rawlings is participating in several collectibles
         promotions with MLB Clubs in 2003 that support this communication. The
         Official Major League Baseball is also available for purchase at retail
         stores and hobby shops nationwide.

         Rawlings is a leading marketer and manufacturer of baseball equipment
         and other sporting goods in the United States. Rawlings is the Official
         Baseball of Major League Baseball and the NCAA(R) baseball
         championships. Over half of Major League players use a Rawlings' glove,
         including such stars as Derek Jeter, Alex Rodriguez, Ken Griffey, Jr.,
         Mike Piazza, Randy Johnson, Troy Glaus, and Pedro Martinez. Rawlings is
         also the official basketball for the NAIA, NJCAA, AAU and many other
         organizations, as well as official football of the NAIA. Rawlings is
         the official basketball, football, baseball, softball, volleyball and
         soccer ball of the National High School Federation.

         STOCKHOLDERS OF RAWLINGS SPORTING GOODS COMPANY, INC. AND K2 INC. ARE
         URGED TO READ THE REGISTRATION STATEMENT RELATING TO THE PROPOSED
         MERGER OF RAWLINGS AND K2, INCLUDING THE JOINT PROXY
         STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
         Copies of these documents filed by K2 Inc. with the Securities and
         Exchange Commission (the "SEC") also may be obtained free of cost on
         the SEC's website, http://www.sec.gov, or upon oral or written request
         to: John J. Rangel, Senior Vice President-Finance at K2 Inc., telephone
         number (323) 890-5830 or at jrangel@k2inc.net.

         Rawlings and its directors and executive officers may be deemed to be
         participants in the solicitation of proxies of Rawlings stockholders in
         connection with the proposed merger. A detailed list of the names,
         affiliations and interests of the participants in the solicitation is
         set forth in the joint proxy statement that was filed with the SEC.




                                       2


         This news release includes forward-looking statements. Rawlings
         cautions that these statements are qualified by important factors that
         could cause actual results to differ materially from those in the
         forward-looking statements, including but not limited to the companies'
         ability to complete the proposed merger with K2, global economic
         conditions, product demand, financial market performance, and other
         risks described in K2's Registration Statement on Form S-4 and
         Rawlings' Annual Report on Form 10-K, each filed with the Securities
         and Exchange Commission.



                                       3