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Thor Announces Record Sales for Quarter, Year; RV Retail Unit Sales Up 17%, Far Exceeding Industry.

JACKSON CENTER, Ohio, Aug. 4, 2003 -- Thor Industries, Inc. announced today record preliminary sales for the quarter and 12 months ended July 31, 2003.

Sales in the quarter were $420.9 million, the highest for any quarter in the company's history and up 5% from $401.3 million last year which was an exceptionally strong quarter for the company. RV sales in the quarter were $365.5 million, up 6% from $344.8 million last year. Bus sales in the quarter were $55.4 million versus $56.5 million last year.

Sales in the 12 months were $1,570,000,000, up 26% from $1,245,000,000 last year. RV sales in the 12 months were $1,353,000,000, up 39% from $974.0 million last year. Bus sales in the 12 months were $217.0 million, versus $271.0 million last year.

Thor's RV retail registrations in the quarter were up 17% to 26,023 units from 22,209 units last year, far outpacing the industry. These retail registrations exceeded Thor shipments by 7,200 units in the quarter, resulting in a 22% reduction in our dealer inventories which bodes well for a strong start to fiscal 2004.

Backlog on July 31, 2003 was $309 million versus $351 million last year. This is the highest backlog in over 10 months. RV backlog was $201 million versus $251 million last year. Bus backlog was $108 million, the highest in 18 months and up 9% from $99 million last year. Audited results are expected to be announced in approximately 8 weeks.

Thor is the largest unit manufacturer of recreation vehicles and the largest builder of mid-size buses.