POLARIS INDUSTRIES INC. designs, manufactures and markets innovative, high-quality, high-performance motorized products for recreation and utility use, including snowmobiles, all-terrain vehicles (ATVs), motorcycles and personal watercraft (PWC). Headquartered in Minneapolis, Minn., Polaris operates engineering, manufacturing and distribution facilities in Roseau, Minn.; Osceola, Wisc.; Spirit Lake, Iowa; and Vermillion, S.D.; has a wholly owned subsidiary in Winnipeg, Manitoba; and, together with Fuji Heavy Industries Ltd., manufactures engines in Hudson, Wisc. Polaris products are sold through a network of nearly 2,000 dealers in North America and 54 distributors in 113 countries. Polaris common stock trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol PII, and the company is included in the S&P SmallCap 600 stock price index.

* In 1994, Polaris converted from a publicly traded limited partnership to a publicly traded corporation. Pro Forma data is presented for periods prior to 1995 to assist in comparing the continuing results of operations of the Company exclusive of the conversion costs and as if the Company were a taxable corporation for each period presented.

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