Polaris Industries Inc. Expands Share Repurchase Program and Declares Cash Dividend

21 October 1999

Polaris Industries Inc. Expands Share Repurchase Program and Declares Cash Dividend

    MINNEAPOLIS--Oct. 21, 1999--Polaris Industries Inc. (NYSE/PSE:PII) announced today that its Board of Directors has authorized the Company to repurchase up to 2.5 million shares of the Company's common stock. The Company also announced the declaration of a quarterly $.20 per share cash dividend payable on or about November 15, 1999 to shareholders of record on November 1, 1999.
    The share repurchase represents approximately 10 percent of the shares of Polaris Industries common stock currently outstanding. The shares will be repurchased on the open markets dependent on market conditions. The new share repurchase authorization is in addition to an existing share repurchase authorization under which the company may repurchase approximately 700,000 shares. The company has repurchased approximately 4.3 million shares since 1996 under the existing authorization.
    "Polaris is committed to managing its capital for the benefit of its shareholders," said Tom Tiller, Polaris President and CEO. "Polaris is well positioned for future growth and continues to believe that our shares are an excellent value."

    Polaris Industries Inc. designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles, motorcycles, personal watercraft, the Polaris Ranger and related parts, garments and accessories for recreational and utility use. Polaris is the world's largest snowmobile manufacturer and one of the largest U.S. manufacturers of ATVs and personal watercraft. Polaris Industries Inc. trades on the New York Stock Exchange and the Pacific Stock Exchange under the symbol "PII" and is included in the S&P SmallCap 600 stock price index.