Starcraft Corporation's Board Declares 5% Stock Dividend; Decision Based on Strong Performance and Desire to Add Liquidity

    GOSHEN, Ind.--Feb. 4, 2003--Starcraft Corporation , announced today that its Board of Directors has declared a 5% stock dividend to be issued on March 7, 2003, to shareholders of record as of February 21, 2003. The Company currently has approximately 4.5 million common shares outstanding.
    "Our Directors determined that our shareholders deserve the dividend made possible through the Company's strong performance and our confidence of continued growth in the business," said Chairman and CEO Kelly L. Rose. "In addition, a stock dividend will benefit shareholders by adding needed liquidity to our stock."
    Starcraft Corporation, through its joint-venture ownership interest in Tecstar, LLC, is a leading supplier to the OEM automotive supply market. It also supplies after-market parts and accessories to wholesale and retail customers throughout North America. Starcraft reported annual revenues of $105 million, up 114% from the prior year, for the fiscal year ended September 29, 2002.

    This news release contains forward-looking statements regarding Starcraft's business operations and outlook, including projections of revenues and earnings. Investors are cautioned that actual results may differ materially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, the level of customer demand, competitive pressures, labor and operational issues, dependence on and compliance with GM customer contracts, and other important factors detailed in the Company's Form 10-K for fiscal 2002 filed with the Securities and Exchange Commission.