Monaco Coach Corporation Announces Increase in Cash Dividend

COBURG, Ore., Feb. 22, 2005 -- Monaco Coach Corporation announced today that it will increase its upcoming quarterly cash dividend by 20%. A dividend of $0.06 per share will be payable on March 15, 2005 to stockholders of record on March 1, 2005, representing its fifth consecutive quarterly cash dividend since the company declared its initial dividend on February 23, 2004. The company's Board of Directors declared the dividend on February 16, 2005. Monaco Coach Corporation has approximately 29.5 million shares outstanding.

Kay Toolson, Chairman and CEO, stated, "This increase in our cash dividend not only reflects the company's strong balance sheet, but it is an additional value that we are able to provide to our shareholders. The increase reflects our belief that the company will continue to deliver strong financial results."

The company also stated that on February 16, 2005, Carl E. Ring, Jr., a director of Monaco Coach Corporation, advised the Board of Directors that he does not intend to stand for re-election at the company's annual meeting of stockholders to be held in May 2005.

"Mr. Ring's nearly 12 years of service have been invaluable to Monaco Coach. His wisdom, intellect and guidance will be missed," said Toolson.

Headquartered in Coburg, Oregon, with additional manufacturing facilities in Central Oregon and Indiana, Monaco Coach Corporation employs approximately 6000 people and is one of the nation's leading manufacturers of recreational vehicles. The company offers entry-level priced towable RVs up to custom made luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and Royale Coach brand names. For additional information about Monaco Coach Corporation please visit www.monaco-online.com.