International Snapshot

• 2002 Revenue = 6% Polaris

• 2003 Revenue = 7-8% Polaris; 40-50% growth

  • Selling more units
  • Dealer Direct increases revenue/unit
  • Currency favorability

• Profitable growth

• Established 3 Subsidiaries in past 2 years

• Revenue through Subsidiaries now > 50%

• 75 Polaris employees in Int’l department

• 6 Subs/40 Distributors/1000 dealers

• $1.3 Billion market

Big But Not Nearly Big Enough

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