Harley-Davidson Reports Lawsuit Filings

MILWAUKEE, May 20, 2005 -- Harley-Davidson, Inc. today reported that it is aware that lawsuits that purport to be class actions have been filed in the United States District Court for the Eastern District of Wisconsin against the Company and certain of its officers. The Company became aware of these actions through law firm web postings. The complaints allege securities law violations on the part of the defendants. The Company believes the allegations in the lawsuits are without merit and it intends to vigorously defend against these actions.

Company Background

Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company, Buell Motorcycle Company and Harley-Davidson Financial Services. Harley-Davidson Motor Company, the only major U.S.-based motorcycle manufacturer, produces heavyweight motorcycles and offers a complete line of motorcycle parts, accessories, apparel, and general merchandise. Buell Motorcycle Company produces sport motorcycles. Harley- Davidson Financial Services provides wholesale and retail financing and insurance programs to Harley-Davidson dealers and customers.

Forward-Looking Statements

The Company intends that certain matters discussed in this release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "believes," "anticipates," "expects," "plans," or "estimates" or words of similar meaning. Similarly, statements that describe future plans, objectives, outlooks, targets, guidance or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. These risks and uncertainties include a ruling by a court that is adverse to the Company's positions and other uncertainties and matters beyond the Company's control inherent in legal proceedings, as well as the risks and uncertainties disclosed in documents previously filed by the Company with the Securities and Exchange Commission. Shareholders, potential investors, and other readers are urged to consider these risks and uncertainties in evaluating the forward-looking statements and cautioned not to place undue reliance on such forward-looking statements. The forward- looking statements included in this release are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.