Polaris Hits the Jackpot in Las Vegas

LAS VEGAS--Sept. 3, 2003--At its August sales meeting in the nation's gambling capital, recreational and utility vehicle manufacturer Polaris Industries Inc. proved to be a sure bet with dealers and analysts. Only days after posting higher-than-expected earnings and raising EPS targets for 2003, the company unveiled four new products, giving dealers a winning hand for months and years to come. The products, including the Victory Kingpin and the Arlen Ness Signature Series Victory Motorcycle, the RANGER TaskMaster (TM) and a new LE2100 sportboat, are four more aces in Polaris' already stacked deck.

"We're really excited about the new additions to Polaris' product portfolio," said Tom Tiller, Polaris president and CEO. "All four offerings represent significant growth areas for the company and are a testament to the ingenuity and innovation of all our employees. Most importantly, each of our new products will continue to deliver on Polaris' reputation for the industry-leading quality our customers have come to expect."

Victory in Las Vegas

The first Victory Motorcycle rolled off the production line in 1998. Five years later, the line of Victory bikes is stronger than ever. The Victory Vegas introduction in 2002 was hailed by the motorcycle industry, winning major awards including "Best Cruiser" from Cycle World Magazine and Motorcyclist Magazine, "Cruiser of the Year" from Cruising Rider Magazine, and "Best New V-Twin Motorcycle" from V-Twin Magazine.

Beyond the industry, motorcycle enthusiasts have taken notice. Victory sales for 2002 increased by more than 50% and are projected to increase again in 2003. The 2004 Kingpin represents the next generation in cruiser motorcycles for Victory and positions the brand for greater sustained growth.

The Kingpin features a powerful, overhead cam, 92-cubic-inch Freedom(TM) V-twin engine with sleek styling, including 18-inch cast aluminum wheels, fully valanced fenders and wide front and rear tires. It also boasts superior suspension and handling, an inverted-cartridge fork and full floorboards, creating the ultimate combination of riding comfort with the speed and power enthusiasts want.

"The Victory brand is coming off a stellar year," said Mark Blackwell, general manager, Victory Motorcycles. "The Kingpin is a great follow-up to our very successful Vegas launch this past year. With these two bikes in our arsenal, we're expecting Victory to have its biggest year yet in 2004."

The Arlen Ness Signature Series Victory Vegas is another new addition for 2004. Ness, a renowned master builder, designed the entire look and feel of the bike that bears his name. Chrome is the key element to Ness' signature bike, and combined with the chassis, engine and quality ride of a Victory Vegas, the limited-edition model is sure to turn heads.

"Our involvement with Arlen Ness has been a great experience," said Blackwell. "We're honored to work with him and proud to have a bike with his exclusive stamp of approval. Ness' popularity among motorcycle enthusiasts should make this limited-edition model, with a build of only a few hundred, a quick sell."

Bikers can order their 2004 custom Victory motorcycle early through the Victory Custom Order Program. Entering its second year of offering motorcyclists a fully custom-built Victory straight from the factory, the program is greatly expanded for 2004, offering more than 3,000 configurations to buyers who order a 2004 Vegas, Touring Cruiser (TC) or Kingpin by Oct. 2, 20037, 2003. The program represents potential savings to customers of up to more than $5,000 per motorcycle and the reassurance of factory installation and warranty. For more information see www.victorymotorcycles.com

A Splash of Fun

In 2002, Polaris, Baja Marine and Mercury Marine teamed up to begin production on the EX2100, Polaris' first entry in the sportboat category. This year, dealers were introduced to the LE2100, a 21-foot sportboat complete with deluxe accommodations, a wraparound lounge seat, clean and quiet operation, built-in sound system and standard bimini top, all designed to make the boating experience more comfortable and enjoyable.

The LE2100 features a Mercury 250 OptiMax MT Jet Drive V6 engine with direct fuel injection, or a Mercury 240 with electronic fuel injection. With full-size seating capacity for nine, the LE2100 is a great vehicle for a casual summer day on the water with friends or a quick spin around the lake to close out the weekend.

"The sportboat segment presents a great opportunity for Polaris dealers," said Ron Bills, general manager, Polaris Marine division. "Boating is a growing industry, and the EX2100 and the new LE2100 fill a niche for many of our customers and dealers. In addition to personal watercraft, we're committed to developing a broad range of marine products to meet the needs of our customers and dealers alike."

Polaris Goes to Task with its New RANGER

In only a few short years, Polaris has become a major player in the off-road utility vehicle market. Beginning with a 6x6 model in 1997 and expanding to offer 4x4 and 2x4 models in 2001, the company's RANGER line has become one of Polaris' fastest growing product lines. The new RANGER TM is a utility vehicle designed especially for customers seeking a powerful vehicle, a smooth ride and an entry-level price. The RANGER TM retails for $6,199 and features industry-leading towing and payload capacity, industry-leading suspension, seating for three and a line of accessories that make nearly any chore easier and more convenient.

"RANGER is the hardest working, smoothest riding utility vehicle in the market today," said Mike Jonikas, general manager, Polaris RANGER and Professional Series division. "With the introduction of the new RANGER TM we now offer a full range of utility vehicles to match all our customers' needs. And although the entire line is excellent for utility purposes, RANGER owners know it's also the perfect vehicle for recreational pursuits, such as hunting or an afternoon trail ride."

About Polaris Industries Inc:

Information about the complete line of Polaris products is available from authorized Polaris dealers or from the Polaris homepage at polarisindustries.com.

With annual 2002 sales of $1.52 billion, 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.

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, from a major company, 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.