POLARIS AND BOBCAT ANNOUNCE ALLIANCE
March 23 2009.


Polaris has announced a multi-year, strategic partnership with Bobcat Company to share technology, co-develop products and supply highly differentiated work vehicles to a variety of consumers. This partnership will draw upon the complementary strengths of the two companies to diversify Polaris' market segments on a global level.

Ultimately, Polaris sees three major opportunities in this new partnership. First and foremost, this will create an opportunity for increased volume, revenue and profits for Polaris, as well as supplier and dealer networks. Second, this partnership will enable Polaris to diversify beyond the core Powersports segments, and finally, it will allow Polaris to accelerate the growth of its military and international businesses. Through this partnership, Polaris and Bobcat both see an opportunity to extend customer bases and a chance to create profitable growth, even in these difficult economic times. And as a result, both companies will be well-positioned for incremental revenue growth moving into the future.

The alliance will include sharing technology and co-developing highly differentiated work vehicles by the second half of 2010. The initial length of this cooperative effort is over five years, with a provision allowing for renewal. Development of the first wave of new vehicles to be produced by this partnership will begin immediately. Production will begin in 12 to 18 months and should continue through the entirety of the partnership.

Working cooperatively on new technologies, Polaris and Bobcat will look to develop vehicles with different performance and styling characteristics than any other products either company currently produces. By diversifying Polaris' position across new market segments, partnering with Bobcat will help Polaris maintain revenue streams and solidify the company in these difficult economic times.

Scott Wine, CEO of Polaris, said the alliance correlates with the company's strategy, "of diversifying Polaris beyond our core powersports segments and will enhance our efforts to accelerate the growth of our military and international businesses.

"Initially, Polaris will produce and sell highly differentiated work vehicles to Bobcat for sale through the Bobcat dealer network. The breadth and depth of our cooperative efforts will expand thereafter to include co-developed vehicles for both Polaris and Bobcat and further technology sharing."

Richard Goldsbury, president Bobcat Americas, added in the release, "We are combining the strengths of the No. 1 compact construction equipment manufacturer with those of the No. 1 off-road vehicle manufacturer to deliver innovative product solutions for our customers. This alliance will enable both companies to extend our customer bases and provide profitable growth."

Both Polaris and Bobcat are excited about the new opportunities this partnership will present, starting at the corporate level and carrying over into the employee, supplier and dealer networks of both companies.