Design/Builder Selected for Polaris' New Product Development Facility

MINNEAPOLIS--Jan. 2, 20041, 2004--Ryan Companies has been selected to be the Design/Builder of Polaris Industries' new product development facility in Wyoming, Minn.

Construction on the facility, which will house research laboratories, engineering resources and indoor and outdoor areas for product testing, is scheduled to begin in June 2004.

"We are very pleased with the concepts presented by Ryan Companies," said Tom Tiller, president and CEO, Polaris. "Polaris is dedicated to being an innovative producer of high-quality recreational and utility vehicles, and we're confident Ryan Companies' design proposal will help us remain an industry leader."

Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated design-build and development as well as asset, property, and facilities management services to customers. For more than 60 years, Ryan Companies has used a single-source approach that offers flexibility in defining the scope of a project and strength in providing effective, timely solutions resulting in a higher certainty of success. In addition to its Minneapolis office, Ryan has offices in Chicago, Phoenix, Cedar Rapids and Des Moines, Iowa.

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.

NOTE TO EDITORS: For a rendering of the planned facility, contact David Fransen at dfransen@webershandwick.com, or call 952.346.6225.