ASV Ranked Number 7 on FORTUNE Magazine's List of 100 Fastest-Growing Companies

GRAND RAPIDS, Minn.--Aug. 2, 20052, 2005--ASV, Inc. announced today that it has been ranked seventh on FORTUNE Magazine's list of 100 fastest-growing companies. ASV was ranked 25th on Fortune's 2004 list of 100 fastest-growing companies.

"We are again pleased to receive such a high ranking from Fortune magazine," said Gary Lemke, ASV chairman and CEO. "To be named as the seventh fastest growing company in America by Fortune is even more satisfying than our June 2005 ranking as the seventh fastest growing small public company by Fortune Small Business. This recognition affirms our business model and gives us confidence as we convert the compact equipment market from wheels to rubber tracks."

To compile the list, FORTUNE asked financial research firm Zacks to screen companies with annual revenue and market capitalization of at least $50 million and annualized revenue and earnings per share growth of at least 25% per year for the past three years.

ASV had revenues of $161 million for 2004, with a three-year annual revenue growth rate of 64 percent. The company reported $17.2 million in net earnings in 2004, with a three-year annual growth rate in earnings per share of 218 percent, ranking fourth on Fortune's list.

ASV designs, manufactures and sells rubber-tracked loaders and related accessories, attachments and traction products. Thanks to their patented undercarriage technology, ASV machinery is able to traverse nearly any terrain with minimal damage to the ground, making them effective in industries such as construction, landscaping and agriculture. For more information on ASV, log on to www.asvi.com.