Bruce Hertzke Lower Quotations

We believe the decrease in backlog at fiscal 2005 year end is due to lower consumer confidence levels, driven primarily by the volatility of fuel costs,

Revenues and net income for the quarter were negatively impacted primarily by lower motor home deliveries as a result of lower consumer confidence, which in our opinion is due mainly to the increase in fuel prices.

Results for Winnebago Industries' fourth quarter were negatively impacted by lower sales volume and a shift in product mix to lower priced motor homes, particularly Class C's, offset in part by lower incentive compensation expenses.

Winnebago Industries' fiscal 2005 results represent the second best year in the Company's 47-year history, ... While revenues and earnings were lower than last year, I am still extremely proud of the performance of the Company.

to lower consumer confidence levels, driven primarily by the volatility of fuel costs. We anticipate these factors, along with a continued shift in product mix, to continue into fiscal 2006.