LAKE OKOBOJI, Iowa, July 1, 2004 (PRIMEZONE) -- Cycle Country Accessories Corp. (AMEX:ATC) was pleased to report to all shareholders attending the annual shareholder meeting on June 29th that Cycle Country has retired all outstanding bank debt. "Our Board of Directors is proud of our recent accomplishments. We have repaid all the loans incurred in our recent expansion as well as eliminating all bank debt," said Ron Hickman, President and CEO of Cycle Country. "Going forward, the increased cash flow from eliminating our debts should allow us to fund our growth internally and through strategic acquisitions."
Mr. Hickman also spoke about being on pace for a record setting year, driven by strong performance across all divisions. Also highlighted was the continued push by management to create shareholder value through driving market share; maintaining the highest quality and service; and the ongoing desire to drive costs down.
About Cycle Country Accessories Corp.
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Todd Doom at Magellan Financial Media Group, LLC. (317) 867-2839.
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Cycle Country Accessories Corporation, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward-looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as such as ``will,'' ``should'' and ``could.''