Supplement to Definitive Proxy Statement Regarding Merger Agreement

Marine Products Corporation is supplementing its definitive proxy statement concerning the merger agreement with MasterCraft Boat Holdings, Inc. This supplement addresses demand letters and complaints filed by stockholders alleging misrepresentations or omissions in the proxy statement regarding the merger. Marine Products believes its disclosures comply with the law but is providing additional information to moot the claims and avoid litigation costs. The supplement includes updated details on the interests of directors and executive officers in the merger, background information on the merger's negotiation, and financial analyses performed by the advisors. Specific financial data and valuation ranges for both companies have been revised. Marine Products and MasterCraft are providing this information to their stockholders and urge them to read the supplemented proxy statement and other relevant filings for important details about the proposed transactions. The company's board unanimously recommends voting in favor of the merger agreement.