ASV Introduces New RC-100 Rubber Tracked All Surface Loader; New Machine Combines High Flow, High Speed, High Lift and High Horsepower.

Business Editors & Automotive Writers

GRAND RAPIDS, Minn.--(BUSINESS WIRE)--Jan. 28, 2003

ASV, Inc. (Nasdaq:ASVI) today announced the introduction of the latest model in its R-Series product line, the RC-100 All Surface Loader. The most powerful and productive of ASV's R-Series All Surface Loaders, the RC-100 is the first rubber tracked loader that combines high flow, high speed, high lift, high torque and high horsepower in one machine. The RC-100 is the largest machine in ASV's R-Series line of All Surface Loaders. Other models in this product line include the Turf Edition that was introduced earlier this month, the 50 hp RC-50 that was introduced in 2002 and the compact 31.5 hp RC-30 that started the R-Series in 2000. ASV expects production of the RC-100 to begin during the first quarter of 2003.

"The all surface loader and the entire compact loader market continues to evolve with the RC-100, a machine that has no peer," said Brad Lemke, ASV's director of new product development.

The RC-100, which has a lift height of 125 inches, also features the most advanced hydraulic system available in its class and a high efficiency load-sensing system. Two-speed drive motors propel the machine at travel speeds of up to 10 mph. The hydraulic system provides up to 38 gallons per minute (gpm) to the standard high flow auxiliary circuit on demand or 20 gpm to the low flow circuit. The new Caterpillar(R) 3054C turbo-charged diesel engine delivers 100 horsepower and gives the RC-100 304 foot pounds of engine torque, more than any other rubber-tracked loader.

For operator convenience, the RC-100 comes equipped with a hydraulically-activated quick-attach for easy connection to attachments. A tilt-up ROPS operator cab allows easy service access to the hydraulic system. The new cab also includes an integrated air conditioning-heater option.

"This machine beats the competition everywhere, whether they have wheels or tracks," said Lemke. "From pavement to dirt to mud, the RC-100 increases productivity."

The R-Series All Surface Loaders are sold through independent equipment dealers in the U.S., Canada, Australia and New Zealand.

To learn more about ASV and its unique rubber-tracked products such as the RC-100, or to find the nearest dealer, visit the Company's web site at www.asvi.com.

ASV designs, manufactures and sells all-season, track-drive vehicles and related accessories and attachments. With its patented Maximum Traction and Support System(TM) undercarriage, ASV leads all rubber-tracked, all-purpose crawlers in technology and innovation. ASV's products traverse nearly any terrain with minimal damage to the ground, making them effective in industries such as construction, landscaping and agriculture.

Note: The statements set forth above regarding ASV's expected start of production of the RC-100 is a forward-looking statement based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Certain factors may affect whether these anticipated events occur including ASV's ability to successfully manufacture the machines, unanticipated delays, costs or other difficulties in the manufacture of the machines, market acceptance of the machines, ASV's ability to successfully attract new dealers, general market and economic conditions and corporate developments at ASV. Actual results might differ materially from those anticipated in such forward-looking statements. Any forward-looking statements provided from time-to-time by the Company represent only management's then-best current estimate of future results or trends. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to, its report on Form 10-Q for the six months ended June 30, 2002.