The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Chassis Maker Will Repurchase Nearly 1 Million Shares

30 May 2000

Spartan Motors Declares Special Cash Dividend, Announces Repurchase of Nearly 1 Million Shares
    CHARLOTTE, Mich., May 30 Spartan Motors, Inc.
today announced its board of directors has approved a special
cash dividend of $0.07 per share on the Company's common stock.
    The Charlotte, Mich.- based manufacturer of custom chassis, emergency
vehicles and buses said the special dividend is payable on July 7, 2000 to
shareholders of record at the close of business on June 7, 2000.  Spartan
Motors has paid a special cash dividend in each of the past 12 years.
    The Company also announced it has completed the repurchase of 942,000
shares of its outstanding common stock, nearly half of what its board
authorized last year.  The buyback is part of Spartan Motors' board
authorization in November 1999 to buy back up to 2 million shares, or nearly
16 percent of the Company's common stock.  The repurchases were exercised in
open market transactions at an average price of $4.13 per share.
    "These efforts reaffirm our confidence in the future of Spartan Motors,"
said John Sztykiel, president and chief operating officer.  "We are on track
for strong year-over-year earnings and sales growth in 2000 and are focused on
translating this performance into increased shareholder value."
    Spartan's board also announced it will hold its annual meeting of
shareholders on Tuesday, June 13 at 5:30 p.m. at the Company's corporate
headquarters in Charlotte.
    Spartan Motors, Inc. (http://www.spartanmotors.com ) is a leading developer and
manufacturer of custom chassis for fire trucks, recreational vehicles, transit
buses, school buses and other specialty vehicles.  The Company also
manufactures fire and rescue vehicles through its subsidiaries Luverne Fire
Apparatus, Quality Manufacturing and Road Rescue, Inc. and owns a majority
interest in school bus manufacturer Carpenter Industries, Inc.
    The statements contained in this news release include certain predictions
and projections that may be considered forward-looking statements by the
securities laws.  These statements involve a number of risks and
uncertainties, including but not limited to economic, competitive,
governmental and technological factors affecting the Company's operations,
markets, products, services and prices, and actual results may differ
materially.