Polaris Announces Key Organizational Change to Drive Division and Revenue Growth

    MINNEAPOLIS--May 1, 2003--Polaris Industries Inc. announced a key organizational change today with the promotion of Mike Jonikas to general manager of the Polaris Utility Vehicle and Professional Series division where he will be responsible for the Professional Series line of commercial vehicles and Polaris RANGER utility vehicles.
    The Professional Series was launched in 2000 and marked the company's initial expansion into the commercial equipment marketplace with the production of Workmobiles(TM), work-grade vehicles used by lawn and landscape companies, equipment rental companies and construction operations.
    The RANGER line of utility vehicles continues to stand tall above the competition in terms of product innovation, quality, comfort, rugged capabilities and sales growth. The RANGER line has experienced incredible growth in recent years, highlighted most recently by a staggering 114 percent retail sales growth in 2002.
    Jonikas was director of marketing and product management for the ATV division for three years and brings a wealth of experience to his new position. Prior to Polaris, Jonikas had 12 years of marketing and sales general management experience with General Mills. Matt Homan, who joined Polaris last year as ATV marketing manager, will now assume all marketing responsibilities for the ATV division.
    "We're excited to have Mike in this key position for Polaris," said Tom Tiller, president and chief executive officer, Polaris Industries. "Polaris Professional Series and RANGER provide significant growth opportunities for Polaris over the next few years as we develop new distribution channels and the product portfolio for each business."

    About Polaris

    Information about the complete line of Polaris products is available from authorized Polaris dealers or from the Polaris homepage at polarisindustries.com.
    Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles (ATVs), personal watercraft, Victory motorcycles and the Polaris RANGER for recreational and utility use. The Polaris Professional Series, a line of heavy duty Workmobiles(TM) targeted at lawn and landscape companies, equipment rental companies and construction operations, marks Polaris' expansion into the commercial equipment marketplace.
    With annual 2002 sales of over $1.5 billion, Polaris is the recognized leader in the snowmobile industry; one of the largest manufacturers of ATVs in the world; and a leading manufacturer of personal watercraft. Victory motorcycles, established in 1998 and representing the first all-new American-made motorcycle in nearly 60 years, is rapidly making impressive in-roads into the motorcycle cruiser marketplace. Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships. Consumers can also purchase apparel and vehicle accessories anytime at polarisindustries.com
    Polaris Industries Inc. trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol "PII," and the company is included in the S&P Small-Cap 600 stock price index.