Polaris CEO Named Executive of the Year

    MINNEAPOLIS--June 19, 2003--Powersports Business, a trade publication that covers the multi-billion dollar recreational vehicle industry, has named Polaris Industries Inc. President and CEO Tom Tiller "Executive of the Year."
    Tiller joins previous winners Ray Blank, vice president of American Honda Motor Company's motorcycle division and Fred Fox, founder of Parts Unlimited, in receiving the prestigious award.
    Since joining Polaris in 1998 from General Electric, Tiller has developed a new strategic plan and bolstered the management team with key additions to reach very aggressive financial and product goals. The Wall Street Journal recently reported Polaris Industries stock had risen more than 45 percent since Tiller was named CEO on May 20, 1999.
    "Polaris was a good company long before Tom Tiller showed up," Tiller said in recent Powersports Business article. "It always had good people and passion was part of the fabric. It was conservatively managed and had a good dealer network. I didn't want to change any of that. But I thought it could go from a regional company to one playing on a bigger stage."
    A renewed emphasis on product quality and smart product diversification are key drivers in Tiller's growth strategy. Polaris product quality has improved 40 percent since Tiller instituted new quality control measures. While Polaris is best known as the company that invented the modern-day snowmobile, nearly 60 percent of Polaris revenue now comes from the sale of all-terrain vehicles (ATVs). Since Tiller became CEO, the ATV division has diversified and added heavy-duty off-road utility vehicles and youth and sport ATVs. With the successful launch of the Victory Vegas last year, Victory Motorcycles now has a strong foothold in the growing cruiser motorcycle market. Polaris has also expanded their personal watercraft division with the recently introduced EX2100 sport boat. In addition, Polaris introduced a line of commercial construction vehicles adding greater product diversity and creating additional new revenue streams.
    Tiller earned an MBA from Harvard and began his career at General Electric as an engineer and stayed with the company for 15 years. After holding a number of marketing and management positions, he was promoted to vice president and general manager of GE Silicones, a $1 billion, 3,000-employee unit doing business in more than 40 countries.

    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, 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 all terrain vehicles (ATVs) in the world; and a leading manufacturer of personal watercraft. Victory motorcycles was established in 1998, and represents 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.