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Thor to Build World's First Commercially Viable, Zero Emissions Fuel Cell Buses in Alliance with International Fuel Cells, A Untied Technologies Company, and ISE Research

5 June 2000

Thor to Build World's First Commercially Viable, Zero Emissions Fuel Cell Buses in Alliance with International Fuel Cells, A Untied Technologies Company, and ISE Research

    JACKSON CENTER, Ohio, June 5 Thor Industries, Inc.
announced today that it will build the world's first commercially-
viable, fuel cell powered, zero emissions transit buses in an exclusive
alliance with International Fuel Cells Inc.(IFC), a Untied Technologies
company, and ISE Research.  The first bus will be built by mid
2001.
    IFC is the world's largest and most advanced manufacturer of fuel cells.
IFC fuel cells have powered every NASA space shuttle mission and IFC is the
leader in stationary fuel cell power plants.  Thor is the largest mid-size bus
builder and the second largest recreation vehicle manufacturer.
    Thor has exclusive rights for use of IFC's fuel cells in the complete
drive system, called ThunderPower, for all North American mid-sized buses.
"ThunderPower is the leading edge technology and the market potential is very
large," said Wade F.B. Thompson, Thor Chairman.
    "This is an extraordinary break-through in clean transit buses.  Thor is
already the leader in clean burning alternative-fueled buses and fuel cells
are the power of the future.  We will build our 30' E-Z Rider low floor
transit buses powered by a fuel cell hybrid drive system to sell at a price
competitive with other alternative fuels.  The key difference will be improved
reliability and efficiency and absolutely no emissions," Mr. Thompson added.
    ISE Research Corporation, San Diego, CA, the leading developer and
integrator of hybrid drive systems for bus and truck applications, will
provide its hybrid system and perform the fuel cell systems integration.

    This release includes "forward-looking statements" that involve
uncertainties and risks.  There can be no assurance that actual results will
not differ from the Company's expectations.  Factors which could cause
materially different results include, among others, the success of new product
introductions, the pace of acquisitions and cost structure improvements,
competitive and general economic conditions, and the other risks set forth in
the Company's filings with the Securities and Exchange Commission.