Cycle Country Shows 38% Net Income Growth for April & May 2003

    MILFORD, Iowa--June 24, 2003--Cycle Country Accessories Corp. (AMEX:ATC), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that Income from Operations for April and May 2003 totaled $203,426 compared to $113,644 for the same two month period last year. The greater amount of Income from Operations represents a 79% increase from the corresponding two months during the Company's fiscal third quarter in 2002. After allowing for Total Other Income (Expenses) and Provisions for Income Taxes, the Company's Net Income numbers for this two-month duration came in at $103,089 or 38% higher than the same fiscal time period last year.
    The higher net income growth is a reflection of and in keeping with the Company's seasonally diversified, strategic marketing plans laid out over the past year. The management team, bolstered by a recently announced key addition; are in the process of guiding Cycle Country into a position of industry prominence. With major companies expanding into the commercial equipment marketplace, the Company's proven strength to manufacture and deliver exceptional products continues to align them with some of the most recognizable leaders in the field.
    A reputation of product quality, the longevity of key relationships with distributors providing complete North American coverage and smart product diversification should continue to enhance all corporate initiatives furthering record revenues and earnings for the 2003 fiscal year ending September 30th and well into the future.
    The management of Cycle Country has projected total revenues of $15.6 million and earnings of $0.32 per share for fiscal 2003. For the first 8-months through May 31, 2003, management's revenue projections remain on track to meet the Company's annual year-ending September 30, 2003 forecast.
    In other noteworthy news stemming from Cycle Country's new listing on Amex last week, on Friday June 20th, Cycle Country CEO and President, Mr. Ron Hickman received the honorary distinction from the American Stock Exchange of "Ringing the Bell" to officially open the floor to trading at the customary market open of 9:30 am Eastern Time. Prior to ringing the bell, Mr. Hickman addressed the financial professionals on the Amex trading floor by offering a few words of encouragement and appreciation to be associated with one of the oldest institutions of the free-market enterprise system in the United States. To view the official ceremony, go to http://www.amex.com and clink-on Cycle Country listed under the "Bell Ringing Close Up" heading on the right side of the page.

    About Cycle Country Accessories Corp.

    Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market in several product categories, is the industry leader in the design, engineering and manufacturing of custom-fitting accessories for the utility all-terrain vehicle (ATV).
    Since 1981, Cycle Country has developed an extensive line of branded products of snowplows, lawnmowers, spreaders, sprayers, hitches and many other utility equipment items along with recreational accessories.
    The Company's products custom fit virtually every brand of ATV on the market, which are distributed to essentially all ATV and motorcycle dealers in North America.
    The Company has 19 international distributors that sell Cycle Country products in 35 countries throughout Asia, Europe, Central and South America. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers worldwide. The Company sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty garden equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under their brand name Weekend Warrior. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures many equipment products for their utility vehicles.
    For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp: 2188 Hwy. 86 Milford, Iowa 51351 800.841.2222.

    This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Cycle Country Accessories Corporation, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."