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Harley-Davidson, Inc. Announces Two-For-One Stock Split and Declares Dividend

20 August 1997

Harley-Davidson, Inc. Announces Two-For-One Stock Split and Declares Dividend

    MILWAUKEE, Aug. 20 -- Harley-Davidson, Inc.
announced today that its Board of Directors approved a two-for-one stock split
effective for shareholders of record on September 12, 1997, payable on
September 26, 1997.  The company's Board also declared a quarterly cash
dividend of $0.07 per share (equivalent to $0.035  per share on a post-split
basis), with the same record and payment dates.  The company currently has
75.9 million shares (equivalent to 151.8 million shares on a post-split basis)
of common stock outstanding.
    "This is the fourth two-for-one stock split since our 1986 initial public
offering, and we are proud of the return we have provided our shareholders,"
said Richard F. Teerlink, chairman of Harley-Davidson, Inc.  "We believe that,
by splitting our stock, we will continue to attract more individual investors
into the Harley-Davidson family.  This stock split is also a reflection of the
Board of Director's confidence in the company's ability to continue to
successfully execute its plans."
    Harley-Davidson Motor Company, the only major U.S.-based motorcycle
manufacturer, produces heavyweight motorcycles and a complete line of
motorcycle parts, accessories, apparel, and general merchandise.  Eaglemark
Financial Services, Inc. provides wholesale and retail financing, insurance
and credit card programs to Harley-Davidson dealers and customers and similar
programs for other leisure products manufacturers.

SOURCE  Harley-Davidson, Inc.