polaris industries inc announces new share repurchase authorization

Polaris Industries Inc.'s Board of Directors has authorized the company to repurchase up to two million shares of its common stock on a discretionary basis in the open market.

The newest share repurchase authorization, together with approximately 700,000 shares available for repurchase under a previous authorization, represents approximately 12 percent of the shares of Polaris common stock currently outstanding.

Timing and amounts of purchases will be governed by applicable SEC rules and market conditions.

Since 1996, the Company has repurchased approximately 8.8 million shares of its common stock under its share repurchase program.

Stated Tom Tiller, Polaris' President and CEO, "We believe that purchasing Polaris stock at current market prices has been, and continues to be, an excellent use of the Company's capital. Polaris' balance sheet and cash flow generation remains strong and we are well positioned for future growth. As we have done in the past, we will continue to acquire the Company's shares at what we believe is an excellent value, balanced against other strategic options."