AMENDMENT NO. 7 TO STOCKHOLDERS AGREEMENT


         AMENDMENT  NO.  7,  dated as of  January  1,  1998 to the  Stockholders
Agreement,   dated  as  of  April  30,  1996,  as  amended  (the   "Stockholders
Agreement"),  by and among AMF BOWLING,  INC., a Delaware  corporation  formerly
named AMF Holdings Inc.  ("Bowling"),  GS CAPITAL  PARTNERS II, L.P., a Delaware
limited  partnership,  GS CAPITAL  PARTNERS II OFFSHORE,  L.P., a Cayman Islands
exempt limited partnership,  GOLDMAN SACHS & CO. VERWALTUNGS GMBH, a corporation
recorded  in the  Commercial  Register  Frankfurt,  as  nominee  for GS  Capital
Partners II German  C.L.P.,  THE GOLDMAN SACHS GROUP,  L.P., a Delaware  limited
partnership, STONE STREET FUND 1995, L.P., a Delaware limited partnership, STONE
STREET 1996,  L.P., a Delaware  limited  partnership,  BRIDGE  STREET FUND 1995,
L.P., a Delaware limited partnership,  BRIDGE STREET FUND 1996, L.P., a Delaware
limited partnership,  BLACKSTONE CAPITAL PARTNERS II MERCHANT BANKING FUND L.P.,
a Delaware limited partnership,  BLACKSTONE OFFSHORE CAPITAL PARTNERS II L.P., a
Delaware limited partnership,  BLACKSTONE FAMILY INVESTMENT  PARTNERSHIP L.P., a
Delaware limited partnership, BLACKSTONE FAMILY INVESTMENT PARTNERSHIP II, L.P.,
a Delaware limited partnership,  KELSO INVESTMENT ASSOCIATES V, L.P., a Delaware
limited  partnership,   KELSO  EQUITY  PARTNERS  V,  L.P.,  a  Delaware  limited
partnership,  BAIN CAPITAL FUND V, L.P., a Delaware  limited  partnership,  BAIN
CAPITAL FUND V-B,  L.P., a Delaware  limited  partnership,  BCIP  ASSOCIATES,  a
Delaware general  partnership,  BCIP TRUST ASSOCIATES,  L.P., a Delaware limited
partnership,  CITICORP NORTH AMERICA,  INC., a Delaware corporation,  CHARLES M.
DIKER,  the  management  investors  listed  in  Schedule  I to the  Stockholders
Agreement,  as such  Schedule I may be amended from time to time  (collectively,
the "Management Investors") and all other parties thereto.

         WHEREAS,  the Board of  Directors of Bowling has  recommended  that the
Stockholders Agreement be amended in certain respects; and

         WHEREAS,  pursuant  to  and  in  accordance  with  Section  3.9  of the
Stockholders  Agreement,  Bowling  and  Stockholders  holding a majority  of the
outstanding  shares of Common  Stock of Bowling  wish to amend the  Stockholders
Agreement  on  the  terms  contained  herein,  it  being  understood  that  such
amendments  do  not  affect  the  rights  and  obligations  of  any  Stockholder
differently  from any other  Stockholder  or  adversely  affect  the  Management
Investors (or a group thereof as a class);

         NOW, THEREFORE, the Stockholders Agreement is amended as follows:

         1. Defined Terms.  Capitalized  terms used and not defined herein shall
have the meanings assigned to them in the Stockholders Agreement.

         2. Name of Company. Unless the context otherwise requires, when used in
the  Stockholders  Agreement,  references to "AMF Holdings  Inc." and "Holdings"
shall be deemed to be references to "AMF  Bowling,  Inc." and  "Bowling," as the
case may be.

         3.  Amendment to Section  1.1.6.  The last sentence of Section 1.1.6 of
the  Stockholders  Agreement  shall  be  deleted  and  the  following  shall  be
substituted therefor:

                  "No  member of the Board who is an  employee  of Bowling or an
                  employee,  partner or  stockholder  of GSCP shall  receive any
                  compensation   or  benefit   (other  than   reimbursement   of
                  reasonable   out-of-pocket   expenses   contemplated   by  the
                  preceding  sentence) from Bowling or any subsidiary of Bowling
                  for serving as a member of the Board or for  performing his or
                  her duties as a director of Bowling;  each other member of the
                  Board  shall be  entitled  to receive a fee of $2,000 for each
                  Board meeting  attended in person and a fee of $1,000 for each
                  meeting  of  the  Audit  Committee,   Compensation   Committee
                  (including any Subcommittee  thereof),  Executive Committee or
                  other standing committee of the Board attended in person."

         4. Amendment to Section  1.1.7.  The first sentence of Section 1.1.7 of
the  Stockholders  Agreement  shall  be  deleted  and  the  following  shall  be
substituted therefor:

                  "At all times during the term of this Agreement there shall be
                  an   executive   committee   of  the  Board  (the   "Executive
                  Committee") which shall consist of three members,  two of whom
                  shall be a GSCP  Director  and the other of whom  shall be the
                  President and Chief Executive Officer of Bowling."

         5. Amendments to Section 1.1.8. The reference to "2,877,151  shares" in
clause  (y)(ii) of  Section  1.1.8(b)  of the  Stockholders  Agreement  shall be
deleted and "4,877,151 shares" shall be substituted therefor.

         6. Governing  Law. This  Amendment  shall be governed and construed and
enforced in accordance with the laws of the State of New York, without regard to
principles of conflicts of laws thereof.

         7.  Reaffirmation.  In all respects not inconsistent with the terms and
provisions of this Amendment No. 7, the Stockholders Agreement shall continue to
be in full force and effect in accordance with the terms and conditions thereof,
and is hereby ratified, adopted, approved and confirmed. From and after the date
hereof, each reference to the Stockholders  Agreement in any other instrument or
document  shall be deemed a reference to the  Stockholders  Agreement as amended
hereby, unless the context otherwise requires.

         8. No Waiver. The execution, delivery and performance of this Amendment
No. 7 shall not  operate as a waiver of any  condition,  power,  remedy or right
exercisable  in  accordance  with the  Stockholders  Agreement,  and  shall  not
constitute a waiver of any provision of the  Stockholders  Agreement,  except as
expressly provided herein.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 7
to be duly executed as of the date first written above.

                           AMF BOWLING, INC.

                           By: /s/ Douglas J. Stanard
                              ---------------------------------------
                              Name:  Douglas J. Stanard
                              Title: President & CEO

                           Address: AMF Bowling, Inc.
                                    8100 AMF Drive
                                    Richmond, Virginia 23111
                                    Telecopier No.: (804) 730-4327

                           GS CAPITAL PARTNERS II, L.P.

                           By:      GS Advisors, L.P.
                                    General Partner

                           By:      GS Advisors Inc., its General
                                    Partner

                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505



<PAGE>



                           GS CAPITAL PARTNERS II OFFSHORE, L.P.

                           By:      GS Advisors II (Cayman), L.P.
                                    General Partner

                           By:      GS Advisors II, Inc., its
                                    General Partner


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505


                           GOLDMAN, SACHS & CO. VERWALTUNGS GMBH


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Managing Director


                           By: /s/ David J. Greenwald
                              ---------------------------------------
                              Name:   David J. Greenwald
                              Title:  Registered Agent

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505



<PAGE>



                           THE GOLDMAN SACHS GROUP, L.P.


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Partner

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505


                           STONE STREET FUND 1995, L.P.

                           By:  Stone Street Value Corp., its
                                General Partner


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Vice President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505


                           STONE STREET FUND 1996, L.P.

                           By:      Stone Street Empire Corp., its
                                    General Partner


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Vice President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505


                           BRIDGE STREET FUND 1995, L.P.

                           By:      Stone Street Value Corp., its
                                    Managing General Partner


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Vice President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505


                           BRIDGE STREET FUND 1996, L.P.

                           By:      Stone Street Empire Corp., its
                                    Managing General Partner


                           By: /s/ Richard A. Friedman
                              ---------------------------------------
                              Name:  Richard A. Friedman
                              Title:  Vice President

                           Address: c/o Goldman, Sachs & Co.
                                    85 Broad Street
                                    New York, NY 10004
                                    Attn: David J. Greenwald
                                    Telecopier No.: (212) 357-5505



<PAGE>



                           BLACKSTONE CAPITAL PARTNERS II MERCHANT
                           BANKING FUND L.P.

                           By:      Blackstone Management Associates II
                                    L.L.C., its General Partner


                           By: /s/ Howard A. Lipson
                              ---------------------------------------
                              Name:  Howard A. Lipson
                              Title: Member

                           Address: 345 Park Avenue
                                    19th Floor
                                    New York, NY 10154
                                    Attn:  Howard A. Lipson
                                    Telecopier No.: (212) 754-8725


                           BLACKSTONE OFFSHORE CAPITAL PARTNERS
                           II L.P.

                           By:      Blackstone management Associates
                                    II L.L.C., its General Partner


                           By: /s/ Howard A. Lipson
                              ---------------------------------------
                              Name:  Howard A. Lipson
                              Title: Member

                           Address: 345 Park Avenue
                                    19th Floor
                                    New York, NY 10154
                                    Attn:  Howard A. Lipson
                                    Telecopier No.: (212) 754-8725



<PAGE>



                           BLACKSTONE FAMILY INVESTMENT
                           PARTNERSHIP L.P.

                           By:      Blackstone Management Associates
                                    II L.L.C., its General Partner


                           By: /s/ Howard A. Lipson
                              ---------------------------------------
                              Name:  Howard A. Lipson
                              Title: Member

                           Address: 345 Park Avenue
                                    19th Floor
                                    New York, NY 10154
                                    Attn:  Howard A. Lipson
                                    Telecopier No.: (212) 754-8725


                           BLACKSTONE FAMILY INVESTMENT
                           PARTNERSHIP II, L.P.

                           By:      Blackstone Management Associates
                                    II L.L.C., its General Partner


                           By: /s/ Howard A. Lipson
                              ---------------------------------------
                              Name:  Howard A. Lipson
                              Title: Member

                           Address: 345 Park Avenue
                                    19th Floor
                                    New York, NY 10154
                                    Attn:  Howard A. Lipson
                                    Telecopier No.: (212) 754-8725



<PAGE>



                           KELSO INVESTMENT ASSOCIATES V, L.P.

                           By:      Kelso Partners V, L.P., its
                                    General Partner


                           By: /s/ Thomas R. Wall, IV
                              ---------------------------------------
                              Name:  Thomas R. Wall, IV
                              Title: General Partner

                           Address: 320 Park Avenue, 24th Floor
                                    New York, NY 10022
                                    Attn:  James J. Connors, II
                                    Telecopier No.: (212) 223-2379


                           KELSO EQUITY PARTNERS V, L.P.


                           By: /s/ Thomas R. Wall, IV
                              ---------------------------------------
                              Name: Thomas R. Wall, IV
                              Title:General Partner

                           Address: 320 Park Avenue, 24th Floor
                                    New York, NY 10022
                                    Attn:  James J. Connors, II
                                    Telecopier No.: (212) 223-2379


                           BAIN CAPITAL FUND V, L.P.

                           By:      Bain Capital Partners V, L.P., its
                                    General Partner

                           By:      Bain Capital Investors V, Inc., its
                                    General Partner


                           By: /s/ Paul B. Edgerley
                              ---------------------------------------
                              Name:  Paul B. Edgerley
                              Title: Managing Director


<PAGE>



                           Address: 2 Copley Plaza
                                    Boston, MA 02116
                                    Attn: Paul Edgerley
                                    Telecopier No.: (617) 572-3000


                           BAIN CAPITAL FUND V-B, L.P.

                           By:      Bain Capital Partners V, L.P., its
                                    General Partner

                           By:      Bain Capital Investors V, Inc., its
                                    General Partner


                           By: /s/ Paul B. Edgerley
                              ---------------------------------------
                              Name:  Paul B. Edgerley
                              Title: Managing Director

                           Address: 2 Copley Plaza
                                    Boston, MA 02116
                                    Attn: Paul Edgerley
                                    Telecopier No.: (617) 572-3000


                           BCIP ASSOCIATES


                           By: /s/ Paul B. Edgerley
                              ---------------------------------------
                              Name:  Paul B. Edgerley
                              Title: A General partner

                           Address: 2 Copley Plaza
                                    Boston, MA 02116
                                    Attn: Paul Edgerley
                                    Telecopier No.: (617) 572-3000


                           BCIP TRUST ASSOCIATES, L.P.


                           By: /s/ Paul B. Edgerley
                              ---------------------------------------
                              Name:  Paul B. Edgerley
                              Title: General Partner

                           Address: 2 Copley Plaza
                                    Boston, MA 02116
                                    Attn: Paul Edgerley
                                    Telecopier No.: (617) 572-3000


                           CITICORP NORTH AMERICA, INC.


                           By: /s/ Jeroen Fikke
                              ---------------------------------------
                              Name:  Jeroen Fikke
                              Title: Vice President

                           Address: 399 Park Avenue, 6th Floor
                                    New York, NY 10043
                                    Attn:  Jeroen Fikke
                                    Telecopier No.: (212) 559-0292


                           VALERIE CHARLES DIKER FUND INC.

                           By: /s/ Charles Diker
                              ---------------------------------------
                              Name:   Charles Diker
                              Title:  President

                           Address: c/o Charles Diker
                                    Charles Diker Associates
                                    One New York Plaza, 31st Floor
                                    New York, New York 10004
                                    Telecopier No.:    (212) 559-0292




<PAGE>

                           /s/ Valerie Diker
                           ---------------------------------------
                           Valerie Diker


                           Address: c/o Charles Diker
                                    Charles Diker Associates
                                    One New York Plaza, 31st Floor
                                    New York, New York 10004
                                    Telecopier No.:    (212) 559-0292


                           CHARLES DIKER & VALERIE DIKER
                           TRUSTEES FOR PATRICIA HELEN DIKER
                           AUG. 31, 1987 TRUST

                           By: /s/ Charles Diker
                              ---------------------------------------
                              Charles Diker, Trustee


                           By: /s/ Valerie Diker
                              ---------------------------------------
                              Valerie Diker, Trustee

                           Address: c/o Charles Diker
                                    Charles Diker Associates
                                    One New York Plaza, 31st Floor
                                    New York, New York 10004
                                    Telecopier No.:    (212) 559-0292


                           CHARLES DIKER & VALERIE DIKE
                           TRUSTEES FOR MARK NORMAN DIKER
                           AUG. 4, 1987 TRUST


                           By: /s/ Charles Diker
                              ---------------------------------------
                              Charles Diker, Trustee


                           By: /s/ Valerie Diker
                              ---------------------------------------
                              Valerie Diker, Trustee

                           Address: c/o Charles Diker
                                    Charles Diker Associates
                                    One New York Plaza, 31st Floor
                                    New York, New York 10004
                                    Telecopier No.:    (212) 559-0292


                           CHARLES DIKER & VALERIE DIKER
                           TRUSTEES FOR BRUCE DANIEL DIKER
                           OCT. 1, 1987 TRUST


                           By: /s/ Charles Diker
                              ---------------------------------------
                              Charles Diker, Trustee


                           By: /s/ Valerie Diker
                              ---------------------------------------
                              Valerie Diker, Trustee

                           Address: c/o Charles Diker
                                    Charles Diker Associates
                                    One New York Plaza, 31st Floor
                                    New York, New York 10004
                                    Telecopier No.:    (212) 559-0292

                           /s/ Charles M. Diker
                           ----------------------------------------
                           Charles M. Diker
                           Charles M. Diker Associates
                           One New York Plaza, 31st Floor
                           New York, NY 10004
                           Telecopier No.: (212) 908-0176

                           /s/ Douglas J. Stanard
                           ----------------------------------------
                           Douglas J. Stanard
                           2206 Monument Avenue
                           Richmond, VA 23220
                           Telecopier No.: (804) 359-0175

                           /s/ Stephen E. Hare
                           ----------------------------------------
                           Stephen E. Hare
                           101 Lockgreen Place
                           Richmond, VA 23226