Polaris Opens New Product Development Center in Wyoming, Minn.; Facility to Provide Jobs for Nearly 200 Employees by December 2005

MINNEAPOLIS--June 24, 2005--Polaris Industries Inc. today announced the opening of its new 126,000-square-foot Product Development Center located in Wyoming, Minn.

Research, development and testing at the facility will include prototype fabrication and assembly, laboratories for structural testing, electrical development, materials engineering and Powertrain assembly and dynamometer testing. Future enhancements will include a noise and vibration laboratory and test tracks for motorcycles and all-terrain vehicles. The $35.5 million facility is essential for Polaris to continue its long tradition of product innovation, which is critical to the company's competitive future.

"This is the single largest investment Polaris has made in product development, and it demonstrates our commitment to creating top-of-the-line, high-quality vehicles for people who love to ride their Polaris or Victory product," said Polaris CEO Tom Tiller. "In selecting Wyoming for this facility, we also are showing our commitment to the State of Minnesota, where our company began and continues to thrive. We look forward to the partnership we've developed with Governor Pawlenty and the Department of Employment and Economic Development, and I'm confident that through the JOBZ program, we will be able to build our company and our brand in Minnesota."

Polaris' expansion in the region will create a significant positive economic impact on Chisago County and the City of Wyoming, including the employment of 143 engineers and 54 managers, administration and other staff at the facility by the end of 2005. That number is expected to grow to nearly 300 employees during the next 10 years. Projected future employment growth will result in a total facility payroll estimated to reach $10 million in 2005, and expanding to nearly $18 million by 2015.

"Polaris is bringing the kind of jobs and high-quality work we need for Minnesota's economy to grow," said Gov. Tim Pawlenty.

The Wyoming facility was designed to achieve LEED Certification (Leadership in Energy and Environmental Design). This design approach includes such characteristics as a sustainable site with light pollution reduction and storm water management; water efficiency such as efficient landscaping and water use reduction; energy and atmosphere considerations like minimum energy performance; materials and resources management like diverting construction waste; and indoor environment quality such as carbon monoxide monitoring and use of low-emitting materials.

About Polaris

Information about the complete line of Polaris products apparel and vehicle accessories is available from authorized Polaris dealers or from the Polaris homepage at www.polarisindustries.com.

With annual 2004 sales of $1.8 billion, Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles (ATVs), Victory motorcycles and the Polaris RANGER for recreational and utility use.

Polaris is the recognized leader in the snowmobile industry; and one of the largest manufacturers of ATVs in the world. Victory motorcycles, established in 1998 and representing the first all-new American-made motorcycle from a major company in nearly 60 years, are rapidly making impressive in-roads into the motorcycle cruiser marketplace. Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol "PII," and the Company is included in the S&P Small-Cap 600 stock price index.