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U.S. Army Awards
Polaris ATV Contract
Relationship Drives Company's
Growth in Adjacent Market Segments
MINNEAPOLIS (August 20, 2007) — Polaris
Industries Inc. today announced the Company was
awarded a contract by the U.S. Army TACOM Life
Cycle Management Command to continue to provide
the company's highly successful militarized ATV
(All-Terrain Vehicle). This competitively
awarded contract will supply Polaris MV700 All
Terrain Vehicles, parts and accessories.
The MV700 has already proven to be a very
versatile vehicle in supporting a wide variety
of missions conducted in urban, rural, mountain
and desert areas in Southwest Asia.
The contract will cover three years and has a
potential total value of more than $16 million;
deliveries under the contract will commence
prior to December 31, 2007.
"Polaris is very proud to continue its role in
providing the U.S. Army with world-class
machines that can be relied on to perform under
the toughest conditions," said Tom Tiller,
Polaris CEO. "The awarding of this TACOM
contract and the continued relationship with the
U.S. Army represents a major step for our
overall business as we drive to achieve growth
in adjacent market segments."
In the early part of 2007, Polaris outlined a
set of objectives intended to achieve its sales
and earning goals through 2009. One of the main
focuses in the new strategy was to generate
incremental sales from several growth
businesses, including the exploration of
opportunities in new adjacent market segments.
The new TACOM contract and the Company's
continued relationship with the U.S. Military
validates this growth business directive and
demonstrates its ability to expand into adjacent
market segments outside of its typical consumer
base.
The long-standing relationship between Polaris
and the U.S. Military began in earnest in 2002
and, with increased opportunities over the past
years, has become a great focus for new business
for the Company. Already with thousands of
machines in the field, this new contract
continues Polaris support of U.S. Army Forces
and its Allies with innovative, high performance
and high quality products that are designed for
a wide variety of military applications.
About Polaris
With annual 2006 sales of $1.7 Billion, Polaris
designs, engineers, manufactures and markets
snowmobiles, all-terrain vehicles (ATVs),
Victory motorcycles and the Polaris RANGER for
recreational and utility use.
Polaris is a recognized leader in the snowmobile
industry; and one of the largest manufacturers
of ATVs in the world. Victory motorcycles,
established in 1998 and representing the first
all-new American-made motorcycle from a major
company in nearly 60 years, are rapidly making
impressive in-roads into the cruiser and touring
motorcycle marketplace. Polaris also enhances
the riding experience with a complete line of
Pure Polaris apparel, accessories and parts,
available at Polaris dealerships.
Polaris Industries Inc. trades on the New York
Stock Exchange under the symbol “PII,” and the
Company is included in the S&P Small-Cap 600
stock price index.
Information about the complete line of Polaris
products, apparel and vehicle accessories is
available from authorized Polaris dealers or
anytime from the Polaris homepage at
http://www.polarisindustries.com.
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