Thor Announces Record Sales for Quarter; Expects Improved Margins, Backlog at Record High

JACKSON CENTER, Ohio, Nov. 2, 2004 -- Thor Industries, Inc. , the nation's largest manufacturer of recreation vehicles and mid-sized buses, announced today record preliminary sales for the quarter ended October 31, 2004 and that it expects significantly improved operating margins in the quarter.

Sales in the quarter were $632.3 million, up 29% from $490.4 million last year. RV sales in the quarter were $581.5 million, up 34% from $433.0 million last year. Bus sales in the quarter were $50.8 million versus $57.4 million last year.

Backlog on October 31, 2004 was a record for this time of the year at $343.6 million, up 8% from $319.3 million last year. RV backlog was $209.6 million down 4% from $218.7 million last year. Bus backlog was $134.0 million, up 33% from $100.6 million last year.

Thor's retail RV unit sales in the quarter were up 3% to 19,471 units this year versus 18,847 units last year. Towable retail sales were up 3% to 17,844 units and motorized retail sales were up 3% to 1,627 units. For the 10 months ended October 31, 2004 our retail sales are up 9% to 70,142 units versus 64,486 units last year. Towable retail sales are up 8% to 63,395 units and motorized retail sales are up 18% to 6,747 units in the 10 months.

"Our strong start in the first quarter leads us to be optimistic for a very positive fiscal 2005, our 25th year," said Wade F.B. Thompson, Thor chairman.

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.