MILWAUKEE (February 12, 2009) -

The Harley-Davidson, Inc. (NYSE: HOG) Board of Directors has approved a cash dividend of $0.10 per share for the first quarter of 2009. The first-quarter dividend is payable March 19, 2009 to holders of record of the Company's common stock on March 5, 2009. The first-quarter 2009 dividend compares to the Company’s prior quarterly dividend of $0.33 per share, paid December 30, 2008.

“The Board’s action on the first-quarter dividend reflects our objective to return value to shareholders, even as we prudently manage the business in these challenging economic times,” said Harley-Davidson, Inc. Chief Executive Officer Jim Ziemer.

Harley-Davidson has paid a dividend every quarter since the Company began declaring dividends in 1993. Reducing the first-quarter dividend to $0.10 from $0.33 preserves about $50 million of cash during the quarter.

Company Background
Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company (HDMC), Buell Motorcycle Company (Buell), MV Agusta and Harley-Davidson Financial Services (HDFS). Harley-Davidson Motor Company produces heavyweight custom, touring and cruiser motorcycles. Buell produces American sport performance motorcycles. MV Agusta produces premium, high-performance sport motorcycles sold under the MV Agusta® brand and lightweight sport motorcycles sold under the Cagiva® brand. HDFS provides wholesale and retail financing and insurance programs primarily to Harley-Davidson and Buell dealers and customers.