Arctic Cat Declares Quarterly Cash Dividend

THIEF RIVER FALLS, Minn.--Jan. 2, 20042, 2004--Arctic Cat Inc. today announced that its board of directors has declared a regular quarterly cash dividend of 7 cents per share of common and class B common stock. The dividend is payable on or about March 2, 2004, to shareholders of record as of the close of business on February 12, 2004.

Arctic Cat Inc. designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) under the Arctic Cat(R) brand name, as well as related parts, garments and accessories. For more information, please visit Arctic Cat's Web site at www.arcticcat.com.