Cycle Country Reports 35% Revenue Growth For Third Quarter; Revenues Increase $799,564 to $3,085,955 For The Period Ended June 30, 2003

MILFORD, Iowa--Aug. 1, 20035, 2003--Cycle Country Accessories Corp. (AMEX:ATC), the outright leader in developing and manufacturing certain custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to report third quarter revenues of $3,085,955 for the three-month period ended June 30, 2003. This represents a 35% increase or $799,564 greater than the revenues of $2,286,391 reported for the corresponding period in 2002. The notable increase during the third quarter is mainly attributable to stronger demand for several core ATV attachment products, as evidenced by increased snowplow blade sales of approximately $480,000 and greater mower unit sales increasing by $103,000; compared to the same period last year. Another contributing factor to higher revenues were the increased sales of OEM (Original Equipment Manufacturer) products of nearly $208,000 and new lawn and garden equipment sales of $106,000 under the Company's wholly owned subsidiary, Weekend Warrior.

Revenues for the nine months ended June 30, 2003 increased $911,356, or 9.8%, to $10,232,570 from $9,321,214 for the comparable months in 2002. Again, the increase in revenues during the nine-month period was primarily because of increased sales of the Company's brand products as well as OEM products. The Company operates three reportable business segments: ATV Accessories, Plastic Wheel Covers and Lawn & Garden. Increased sales of Cycle Country's market leading snowplow blades of approximately $323,000, increased OEM product sales of $533,000, increased sales of Perf-Form premium oil filter products of $257,000, increased sales of mowers of $131,000 and new sales of the Company's Weekend Warrior products of approximately $121,000 account for the majority of the increased revenues over the nine month period.

The decrease in the gross profit margin for the Snowplow Blades is the result of prudent actions taken by the management team to establish a new standard snowplow blade configuration that increases durability and product features. While impacting operating profits over the last three quarters, this has strengthened an important key product category for the Company today and well into the future. Beginning in the current fourth quarter, these margins should also increase as planned pricing increases go into effect for snowplow blades and related ATV products. A decrease in gross profit as a percentage of revenue is primarily the result of an increase in direct labor costs in the Plastic Wheel Cover segment due to additional staffing required to implement a higher quality, improved clear coating process. The Company expects the wheel cover segment margins to increase in the current fourth quarter going forward by reducing material costs as the Company will begin to metalize wheel covers in-house versus outsourcing this process.

Net income of $0.02 per share for the third quarter ended June 30, 2003 versus $0.03 for this period in 2002 was also a reflection of the corporate initiatives stated above along with numerous non-reoccurring expenses and extraordinary items. One such item was a significant amount of approximately $52,500 in registration costs during the third quarter, which was the result of the required registration fee paid to the American Stock Exchange upon the Company's successful approval to have its stock listed for trading on this major exchange commencing June 19, 2003.

Mr. Ron Hickman, CEO and president of Cycle Country, stated: "The first nine months of our fiscal year has set the stage for what we believe will be the best fourth quarter in the Company's history. Redesigned components for several of our top products have re-established our significant share of the market in the snowplow and mower categories. Our profit margins should show noticeable improvements with planned price increases now coming into effect for these new standard products and several other ATV accessories. There are a lot of positive developments going on in the industry right now and Cycle Country is well positioned to take advantage of any appropriate opportunities. With clear indications of the Company's results through the first half of the fourth quarter, our shareholders should expect very impressive revenue and earnings growth for the last quarter and indeed, throughout fiscal 2004 starting October 1st."

For the complete 3rd Quarter 10-QSB filing, 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.

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 utility ATV equipment accessory products that custom fit virtually every brand of ATV on the market. The products are distributed by a group of 16 distributors who sell their accessories to essentially all ATV and motorcycle dealers throughout North America.

The Company has also developed 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 OEM's worldwide. Cycle Country sells premium oil filters and filter coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior.

Cycle Country Headquarters: 2188 Highway 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."