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ASV Added to Russell 2000(R) Index of Small Cap Companies

15 July 1999

ASV Added to Russell 2000(R) Index of Small Cap Companies

    GRAND RAPIDS, Minn., July 15 -- ASV, Inc.
announced today that its common stock will be included in the Russell 2000 and
Russell 3000 stock indexes for the first time. ASV's inclusion was part of the
Frank Russell Company's annual index reconstitution process and was effective
July 1, 1999.
    Each year, the Frank Russell Company ranks the 3,000 largest companies in
terms of market capitalization in the Russell 3000 Index.  The 2,000 smallest
stocks from this list then comprise the Russell 2000 Index, which is generally
accepted as the barometer of the small cap market.
    "We believe ASV's inclusion in these indexes will help increase the
company's visibility to the investment community," said ASV Chief Financial
Officer Tom Karges.  "More than $145 billion is invested in funds modeling
Russell's U.S. stock indexes.  We are pleased to be included in the Russell
2000 index."
    Today's announcement comes after Corporate Report magazine, in its June
issue, named ASV as Minnesota's "Best New Public Company" among firms that
have gone public since 1993.  In the past year, ASV has also been named to top
small company lists in Forbes, Business Week and Individual Investor.
    ASV designs, manufactures and sells all-purpose crawlers and related
accessories and attachments.  With its patent-pending Maximum Traction and
Support System(TM) undercarriage, ASV leads all rubber-tracked, all-purpose
crawlers in technology and innovation.  ASV's primary product, the Posi-Track,
traverses nearly any terrain with minimal damage to the ground, making it
effective in industries such as construction, landscaping and agriculture.
For more information, visit ASV's website at http://www.asvi.com
    Note:  The statements regarding ASV Inc. contained in this release that
are not historical in nature, particularly those that utilize terminology such
as "may," "will," "expects," "anticipates," "believes," "could," or "plans,"
are forward-looking statements based on current expectations and assumptions,
and entail various risks and uncertainties that could cause actual results to
differ materially from those expressed in such forward-looking statements.
Political, economic, climatic, taxes, regulatory, technological, competitive
and other factors could cause actual results to differ materially from those
anticipated in forward-looking statements.  Additional information regarding
these risk factors and uncertainties is detailed from time to time in the
company's SEC filings, including but not limited to, its report on Form 10-K
for the year ended December 31, 1998, and in its report on Form 10-Q for the
three months ended March 31, 1999.