Polaris MSX Named ``Watercraft of the Year''

MINNEAPOLIS--Sept. 3, 2003--

Watercraft World Magazine Bestows Annual Award to the Polaris MSX; Innovation, Market Appeal and Industry Impact Key Factors

Polaris Industries today announced that its 2003 MSX 140(HO) personal watercraft was named "Watercraft of the Year" by Watercraft World Magazine, marking the first time a Polaris watercraft has earned this distinction.

"We are very excited to receive this very important recognition," said Ron Bills, general manager, Polaris Marine division. "With the MSX, Polaris set out to ignite the Polaris Marine brand and redefine industry standards. The MSX separates itself from the competition in terms of styling, attention to detail, fit and finish, and mid-size versatility with an incredible ride quality. The recent accolades from Watercraft World prove the MSX has clearly achieved these goals. Bottom line is the MSX delivers a watercraft with passion and soul in a versatile complete package."

Watercraft World magazine selected the MSX based on three primary criteria: innovation, market appeal and long-term impact on the industry. Editors of Watercraft World commented, "The creation of something new, something refined and forward thinking is how we define innovation for the award. Polaris did not simply add a new twist to an existing platform, but rather created a whole new package -- hull top deck, engine, and most definitely, attitude, with the MSX."

The MSX 140 joins several other Polaris products that recently have received honors from their respective industries, including:

-- The Predator 500, Polaris' first high-performance sport ATV introduced in 2002, earned the "ATV of the Year" title from ATV Sport Magazine, Sport Performance ATV of the Year from The 2003 ATV Guide and Sport ATV of the Year from ATV Rider Magazine.

-- The Victory Vegas, a new cruiser motorcycle launched in 2002, was named "Cruiser of the Year" by Cruising Rider Magazine, "Best New V-Twin Motorcycle" by V-Twin Magazine, and "Best Cruiser" by Cycle World Magazine and Motorcyclist Magazine.

-- The Sportsman 700 Twin, the most powerful, smoothest riding 4x4 earned "2002 ATV of the Year" honors from ATV Magazine.

About Polaris

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.