ASV Introduces New R-Series Turf Edition (TM)

New Smooth Tracked Machine to be Unveiled at Minnesota Green Expo

GRAND RAPIDS, MN (Jan. 8, 2003) -- ASV Inc. (NASDAQ: ASVI) will offer a sneak preview of a unique all surface loader that does not harm turf during the Minnesota Green Expo at the Minneapolis Convention Center today through Friday.

The R-Series Turf Edition TM (TE) has smooth, green, rubber tracks that allows the equipment to leave grass virtually untouched, while also providing excellent traction for digging and grading. ASV, which last year was first to market with a rubber-tracked competitor to mid-sized skid-steers, is again first with its patent-pending turf system targeted at golf courses, parks, cemeteries and fine homes.

"With the green industry having a gross market of approximately $60 billion, and with 16,000 golf courses in the United States, we believe the potential for this machine is large," said Brad Lemke, ASV’s director of new product development. "The golf course industry is particular about the machinery it uses on turf, as are municipalities that tend.parks and cemeteries. There is a void in the industry for a machine that’s devoted to both hard work and turf care."

The R-Series TE is differentiated from other ASV machinery by its smooth tracks. ASV’s current equipment operates with the same undercarriage technology as the R-Series TE, however the rubber tracks contain a tread pattern.

"Our current models are built to excel in all conditions, from tough construction sites to gentle surfaces to mud and snow," said Lemke. "However, the new R-Series TE takes sensitivity to a new level exclusively for the turf industry."

According to Lemke, the traction of ASV’s system comes not from the treads on the track, but from its unique undercarriage."The traction comes from how well the machine distributes its weight through the tracks to the ground," said Lemke. "On turf, our smooth tracks achieve nearly the same amount of traction as tracks with a tread pattern."

As an example of the machine’s versatility, a golf course might use the new Turf Edition to dig a sandtrap, while not harming the surrounding turf. "People might look at this machine, see the green smooth tracks and say, ‘How can it get traction and not tear up the turf?’" said ASV Director of Sales Don Powell. "Well, it does work and we’re ready to show anyone who is willing to watch."

ASV expects the Turf Edition to be produced in the first quarter of 2003. It will be available with ASV’s RC-30 and RC-50 All-Surface Loaders.

ASV designs, manufactures and sells all-purpose crawlers and related accessories and attachments. With its patented Maximum Traction and Support System undercarriage, ASV leads all rubber-tracked, all-purpose crawlers in technology and innovation. ASV’s products are able to traverse nearly any terrain with minimal damage to the ground, making it effective in industries such as construction, landscaping and agriculture.

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