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Excelsior-Henderson Motorcycle Mfg. Co. Announces Q3 Results

13 November 1997

Excelsior-Henderson Motorcycle Manufacturing Company Announces Third Quarter Results

    MINNEAPOLIS, Nov. 13 -- Excelsior-Henderson Motorcycle
Manufacturing Company today announced financial results for the
third quarter ended September 30, 1997.
    The Company reported a net loss for the third quarter of 1997 of
$1,462,720 or $0.13 per share compared to a net loss of $741,164 or $0.08 per
share for the third quarter of 1996.  For the nine-month periods ended
September 30, 1997 and 1996, net losses were $3,543,902 or $0.45 per share,
and $1,861,519 or $0.31 per share, respectively.  Excelsior-Henderson is a
development-stage company and recorded no revenue for the third quarter or
nine-month periods of 1997 or 1996.
    On July 24, 1997, Excelsior-Henderson completed an Initial Public Offering
(IPO) and began trading on the Nasdaq national market under the symbol BIGX.
The Company sold 4,000,000 shares of its common stock to the public at
$7.50 per share resulting in net proceeds to the Company of approximately
$27.4 million.  The Company ended the third quarter of 1997 with cash and cash
equivalents of $29,604,127 including the proceeds of the IPO.
    The Company continues to build its nationwide dealer network with a total
of 40 Excelsior-Henderson dealers signed as of November 14, 1997.  The Company
plans to add additional dealers in the major population centers and in the
major motorcycling markets prior to sale of the first Super X motorcycle in
late 1998.
    On November 10, 1997, the Company moved to its newly completed 160,000
square foot manufacturing and administrative facility in Belle Plaine, Minn.
The facility has been designed to have a production capacity of up to 20,000
motorcycles per year, prior to any facility expansion.
    Excelsior-Henderson Motorcycle Manufacturing Company is a
development-stage company which plans to manufacture, market, and sell premium
heavyweight cruisers and touring motorcycles with a brand that evokes an
authentic American motorcycling heritage and lifestyle.

SOURCE  Excelsior-Henderson Motorcycle Manufacturing Company