Gary L. Groom Promoted to Damon Chairman; William C. Fenech Promoted to Damon President

JACKSON CENTER, Ohio, July 27 -- Thor Industries, Inc. announced today that Gary Groom, currently President of Damon Corporation, has been promoted to Chairman and CEO of Damon effective August 2, 2004. Gary will focus on business strategy, service, parts, financial, HR, and legal matters.

Bill Fenech, currently Executive Vice President of Thor's Keystone RV and a major driving force in Keystone's exceptional success, has been promoted to President and COO of Damon. He will concentrate on product design, sales, marketing, purchasing, production, and engineering in this important new role. Gary and Bill will team together to build Damon into one of the strongest motor home manufacturers in the industry.

Keystone and Damon are separate wholly owned subsidiaries of Thor Industries, Inc., which 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.