Supreme Industries Announces Extension of Stock Repurchase Program

    GOSHEN, Ind.--Dec. 20, 2001--Supreme Industries, Inc. (AMEX:STS) (the "Company") announced today that it is extending through December 31, 2002, its currently-existing stock repurchase program which had been scheduled to expire on December 31, 2001. Under the existing program earlier announced on February 2, 2001, the Company authorized the repurchase of up to 1,000,000 shares of Class A Common Stock. To date, the Company has purchased 9,100 shares of its Class A Common Stock under this particular program. Future purchases, if any, will be dependent on market conditions. Currently, there are 8,878,317 shares of Class A Common Stock outstanding.
    Supreme Industries, Inc. is a nationwide manufacturer of specialized truck bodies, which are produced to specifications of its customers. Supreme also manufactures the StarTrans(R) line of special purpose "shuttle-type" buses. The Company's transportation equipment products are used by a wide variety of industrial and commercial customers.
    This press release contains forward-looking statements, other than historical facts, that reflect the view of the Company's management with respect to future events. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward-looking statements are reasonable, and can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, limitations on the availability of chassis on which the Company's product is dependent, availability of raw materials, and severe interest rate increases. The Company assumes no obligation to update the forward-looking statements or to update the reason actual results could differ from those contemplated by such forward-looking statements.