NYSE: MNC

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MONACO COACH CORPORATION
NYSE MNC
Second Quarter 2003
2
Safe Harbor Statement

• This presentation may contain certain
  forward-looking statements that are subject to
  risks and uncertainties that may cause actual
  results to vary from those projected. Such risks
  and uncertainties include, but are not limited
  to, those listed in the Companys form 10-K and
  form 10-Q. These documents can be accessed at
  www.monaco-online.com or www.sec.gov.

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Company Overview

• Leading Manufacturer of Recreational Vehicles
• Number One Diesel Manufacturer
• Six Premium Brands
• Monaco, Holiday Rambler, Beaver, Safari, McKenzie
  and Royale Coach
• Manufacturing in Indiana and Oregon
• 2002 Sales Data
• 11,211 Units
• 1.22B Revenue

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Company Milestones

• 1987 Current Management in Place
• 1993 Initial Public Offering
• 1996 Holiday Rambler Acquisition
• 1997 Secondary Offering
• 1998 April 3 for 2 Stock Split
• 1998 November 3 for 2 Stock Split
• 1999 July 3 for 2 Stock Split
• 2001 SMC Corporation Acquisition
• 2001 September 3 for 2 Stock Split

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Revenue Breakdown (Approximate)
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Class A Motorhome Market
Retail Sales July 2003 YTD
Approx. Market Size 4.5 billion
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Diesel Motorhome Market
Retail Sales July 2003 YTD
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Gasoline Motorhome Market
Retail Sales July 2003 YTD
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Class C Motorhome Market
Retail Sales June 2003 YTD
Approx. Market Size 745 million
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Towable Market
Retail Sales June 2003 YTD
Approx. Market Size 3.3 billion
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Customer Profile

• Lifestyle Decision, Planned Purchase
• Very High Level of Commitment
• Very Brand Loyal
• 24,500 Club Member Families
• Rallies, Caravans, Events
• Mostly Retired or Semi-Retired
• Average Consumer Will Own 3-5 RVs
• Average Consumer Trades Every 3-5 Years
• Consumer Base Undergoing Positive Changes
• Industry-wide Media Campaign Fuels RV Awareness

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Target Market Growth
U.S. Population Growth 2000-2010 Source U.S.
Census Bureau
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Retail Dealer Profile

• Independent Retail Dealers
• North America
• Shared with Competitors
• Importance of Shelf-Space
• Not All MNC Dealers Carry All MNC Products
• Dealers Specialize
• Few Full-Line Dealers
• Multi-brand Approach Increases Market Penetration
• Dealers Finance Inventory

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Retail Distribution Growth
Retail Dealership Locations
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Product Driven Industry

• Responsive to Customer Dealer Feedback
• Creates Enthusiasm Drives Repeat Purchases
• Company-Wide Focus and Discipline
• Senior Management Attention
• Roadmaster Chassis
• Greater design flexibility enhanced performance
• Alumaframe Construction
• Lighter weight greater durability
• Floorplan Design

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Expanded Product Offerings

• DIESEL CLASS A MOTORCOACHES
• Retail Price Point Monaco Holiday
  Rambler Beaver/Safari
• 600,000 1.1M Royale Coach
• 445,000 535,000 Signature Series Marquis
• 335,000 420,000 Executive Navigator
  Panther
• 295,000 360,000 Dynasty Patriot
• 255,000 295,000 Imperial Contessa
• 215,000 270,000 Windsor Zanzibar
• 210,000 240,000 Camelot Scepter Monterey
• 155,000 210,000 Diplomat Endeavor -
  Diesel Santiam/Sahara
• 135,000 170,000 Knight Ambassador
  Baron/Cheetah
• 115,000 - 130,000 Cayman Neptune

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Expanded Product Offerings

• GASOLINE CLASS A and CLASS C MOTORCOACHES
• Retail Price Point Monaco/McKenzie Safari/Holiday
  Rambler
• 95,000 120,000 LaPalma Vacationer
• 85,000 110,000 Trek/Traveler
• 75,000 105,000 Monarch Admiral
• 65,000 75,000 Rogue Atlantis
• TOWABLES
• Retail Price Point McKenzie Holiday
  Rambler
• 40,000 65,000 Medallion Fifth Wheel
• 40,000 55,000 Presidential Fifth Wheel
• 40,000 45,000 Presidential Travel Trailer
• 30,000 50,000 Lakota Fifth Wheel
  Alumascape Fifth Wheel
• 30,000 40,000 Dune Chaser Toy Hauler
  NextLevel Toy Hauler
• 25,000 35,000 Lakota Travel Trailer
  Alumascape Travel Trailer

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Production Capacity
Units/Week

• Motorized 1996 1997 1998 Current
  Utilization
• Indiana 57 80 115 125
  85
• Oregon 12 12 15
  140 59
• TOTAL 69 92 130
  265 144
• Towable 1996 1997 1998 Current
  Utilization
• Indiana 55 85 70
  130 55
• Oregon 0 10 25
  0 0
• TOTAL 55 95 95
  130 55
• Current Utilization (units) Approx. 50
• 100 Utilization Approx. 1.6 - 1.7B Revenue
• Towable Plant Capacity Expanded July 2003

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Revenue Growth
in millions FY03E 1.1B
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Key Ratios
As a of Revenue
Gross Margin
SGA
Operating Margin
Q203 Gross Margin 10.2 SGA 9.6 Operating
Margin .6
Q303E Gross Margin 10.5-11 SGA
8.75-9.25 Operating Margin 1.25-2.25
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Earnings Per Share
Q303E .8 FY03E .36
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Current Outlook

• Retail Sales Beginning to Improve
• Total Class A Market Up 8.5 July 03 vs. July
  02
• Up 7.9 YTD
• Reduced Overall Production Levels
• More Closely Align Production with Demand
• Work Down Finished Goods Inventory
• Balance Sheet
• Current Debt Approximately 85M
• 103M at Year-end 2002
• Estimate 60 by Year-end 2003
• Estimate 33M Cash from Operations in 2003
• Estimate 20M Cap Ex in 2003
• Excellent Industry Fundamentals
• Demographics, Leisure Travel Preferences

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MONACO COACH CORPORATION
www.monaco-online.com [phone] NYSEMNC