Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Harley-Davidson, Inc.

PHILADELPHIA, July 6 -- The law firm of Spector, Roseman & Kodroff, P.C. announces that it filed a securities class action lawsuit in the United States District Court for the Eastern District of Wisconsin, on behalf of purchasers of the common stock of Harley-Davidson, Inc. ("Harley" or the "Company") between January 21, 2004 through April 12, 2005, inclusive (the "Class Period").

The complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market during the Class Period, thereby artificially inflating the price of Harley securities. It is specifically alleged that throughout the Class Period, the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the much- touted gap between the consumer demand for Harley's products and the available supply had disappeared; (2) that the Company, in an effort to mask the decline in demand, shipped excess inventory to dealers; (3) that the profitability of the Company's Financial Services Division was being negatively impacted by interest rate fluctuations; (4) as a result, the Company's financial results were materially inflated at all relevant times; and (5) that the Company's projections regarding future growth lacked any reasonable basis when made.

On April 13, 2005, Harley announced that they decided to limit short-term production growth. This action would result in a negative change to Harley's previous guidance for both shipments and earnings growth for 2005. News of this shocked the market. Shares of Harley fell $9.84 per share or 16.74 percent, on April 13, 2005, to close at $48.93 per share.

If you purchased Harley securities during the Class Period, you may, no later than July 18, 2005, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth.

If you have sustained substantial losses in Harley securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.

If you wish to join this action, please visit http://www.srk-law.com/dbjoinaclassaction.asp. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via e-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com/.

Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.