Harley-Davidson, Inc. Declares Dividend

MILWAUKEE, Aug. 5, 2003 -- Harley-Davidson, Inc. announced today that its Board of Directors approved a quarterly cash dividend of 4 cents per share, payable September 30, 2003 to shareholders of record as of September 17, 2003. The Company currently has approximately 302.6 million shares of common stock outstanding.

Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company, Buell Motorcycle Company and Harley-Davidson Financial Services, Inc. Harley-Davidson Motor Company, the only major U.S.-based motorcycle manufacturer, produces heavyweight motorcycles and offers a complete line of motorcycle parts, accessories, apparel, and general merchandise. Buell Motorcycle Company produces sport motorcycles in addition to motorcycle parts, accessories and apparel. Harley-Davidson Financial Services, Inc. provides wholesale and retail financing and insurance programs to Harley-Davidson dealers and customers.