H. Coleman Davis III Named Thor Director; Walter L. Bennett Promoted To Executive Vice President

JACKSON CITY, Ohio, Jan. 26, 2004 -- Thor Industries, Inc. announced today that its Board of Directors elected H. Coleman Davis III, currently Chairman of Thor's largest subsidiary and the most successful company in the RV industry, Keystone, to its Board of Directors. Mr. Davis founded Keystone eight years ago and is a major Thor stockholder.

Thor's Board of Directors also approved the promotion of Walter L. Bennett, currently Senior Vice President, Chief Financial Officer, and Secretary to Executive Vice President, Chief Financial Officer, and Secretary. Mr. Bennett has served important financial and administrative roles at Thor since its founding in 1980.

Thor is the largest manufacturer of recreation vehicles and the largest builder of mid-size buses.

This release includes "forward looking statements" that involve uncertainties and risks. There can be no assurance that actual results will not differ from the Company's expectations. Factors which could cause materially different results include, among others, the success of new product introductions, the pace of acquisitions and cost structure improvements, competitive and general economic conditions, and the other risks set forth in the Company's filings with the Securities and Exchange Commission.