Winnebago Industries Announces Cash Dividend Increase

FOREST CITY, Iowa--Aug. 2, 20045, 2004--Winnebago Industries, Inc. , today announced that the Board of Directors increased its quarterly cash dividend by 40 percent. In a meeting held today, the Board of Directors declared a quarterly cash dividend of seven cents a share, payable on October 4, 2004 to shareholders of record as of September 3, 2004, an increase of 40 percent from the previous dividend of five cents a share (adjusted for the 2-for-1 stock split on March 5, 2004).

Winnebago Industries began paying a quarterly dividend of five cents a share in fiscal 2004, which at that time doubled the previous dividend of five cents a share paid semi-annually (adjusted for the stock split).

"We believe cash dividends and repurchasing our common stock are both extremely effective ways to return profits to our shareholders," said Winnebago Industries Chairman, CEO and President Bruce Hertzke. "We previously announced the authorization of a $30 million stock repurchase program and have repurchased $3.4 million or 116,800 shares to date from such authorization."

About Winnebago Industries

Winnebago Industries, Inc. is the leading United States manufacturer of motor homes, self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. The Company builds quality motor homes under the Winnebago, Itasca and Rialta brand names with state-of-the-art computer-aided design and manufacturing systems on automotive-styled assembly lines. The Company's common stock is listed on the New York, Chicago and Pacific Stock Exchanges and traded under the symbol WGO. Options for the Company's common stock are traded on the Chicago Board Options Exchange. For access to Winnebago Industries' investor relations material, to add your name to an automatic email list for Company news releases or for information on a dollar-based stock investment service for the Company's stock, visit, http://www.winnebagoind.com/html/company/investorRelations.html