<SUBMISSION>
<ACCESSION-NUMBER>0001169232-04-002581
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20040504
<ITEMS>5
<ITEMS>7
<FILING-DATE>20040505
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>DREW INDUSTRIES INC
<CIK>0000763744
<ASSIGNED-SIC>3442
<IRS-NUMBER>133250533
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-13646
<FILM-NUMBER>04779591
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>200 MAMARONECK AVE
<CITY>WHITE PLAINS
<STATE>NY
<ZIP>10601
<PHONE>9144289098
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>200 MAMARONECK AVE
<CITY>WHITE PLAINS
<STATE>NY
<ZIP>10601
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d59469_8k.htm
<TEXT>

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 Final//EN">
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+ 1.5ac) -->
     <!-- Project:        X:\JOBS\04-59469\d04-59469.eep                                   -->
     <!-- Control Number: 04-59469                                                         -->
     <!-- Rev Number:     1.0                                                              -->
     <!-- Client Name:    Drew Industries Incorporated                                     -->
     <!-- Project Name:   Form Type: 8-K                                                   -->
     <!-- Firm Name:      Curran & Connors (NY)                                            -->
     <TITLE>Drew Industries Incorporated</TITLE>
</HEAD>
<BODY>
<BR>
<div style='width:600;'>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font SIZE=2>SECURITIES
    AND EXCHANGE COMMISSION</font></b></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font size=2>Washington,
    DC 20549 </font></b></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font SIZE=2>FORM
    8-K </font></b></p>
  <p style=' margin-bottom:3pt;text-align:center; margin-top:12pt;'><b><font SIZE=2>CURRENT
    REPORT </font></b><br>
    <b><font size=2>Pursuant to Section 13 OR 15(d) of the Securities Exchange
    Act of 1934 </font></b></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>Date
    of Report (Date of earliest event reported): May 4, 2004 </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <table border="0" cellspacing=0 cellpadding=0 style='margin-left:127.0pt; border-collapse:collapse;'>
    <tr >
      <td width="307" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font SIZE=2>DREW
          INDUSTRIES INCORPORATED </font></b></p>
      </td>
    </tr>
  </table>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <table border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse;'>
    <tr >
      <td width="285" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>Delaware </font></b></p>
      </td>
      <td width="261" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>0-13646 </font></b></p>
      </td>
      <td width="97" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>13-3250533 </font></b></p>
      </td>
    </tr>
  </table>
  <table border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse;'>
    <tr  >
      <td width="243" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(State
          or other jurisdiction </font></p>
      </td>
      <td colspan="2" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(Commission
          File Number) </font></p>
      </td>
      <td width="105" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(I.R.S.
          Employer </font></p>
      </td>
      <td  width="3">
        <p class='MsoNormal'><font size=1>&nbsp;</font>
      </td>
    </tr>
    <tr >
      <td colspan="2" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>of
          incorporation) </font></p>
      </td>
      <td colspan="3" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>Identification
          No.) </font></p>
      </td>
    </tr>
    <tr >
      <td width="243" ></td>
      <td width="288" ></td>
      <td width="8" ></td>
      <td width="105" ></td>
      <td width="3" ></td>
    </tr>
  </table>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <table border="0" cellspacing=0 cellpadding=0 style='margin-left:1.0in; border-collapse:collapse;'>
    <tr >
      <td width="480" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>200
          Mamaroneck Avenue, White Plains, New York</font></b></p>
      </td>
      <td width="60" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>10601</font></b></p>
      </td>
    </tr>
  </table>
  <table border="0" cellspacing=0 cellpadding=0 style='margin-left:1.5in; border-collapse:collapse;'>
    <tr >
      <td width="425" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(Address
          of principal executive offices) </font></p>
      </td>
      <td width="75" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(Zip
          Code) </font></p>
      </td>
    </tr>
  </table>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <table border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse;'>
    <tr >
      <td width="525" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>Registrant's
          telephone number, including area code:</font></b></p>
      </td>
      <td width="123" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><b><font size=2>(914)
          428-9098</font></b></p>
      </td>
    </tr>
  </table><BR>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;line-height:.23;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>N/A</font></p>
  <table border="0" cellspacing=0 cellpadding=0 style='margin-left:118.0pt; border-collapse:collapse;'>
    <tr >
      <td width="331" valign=top >
        <p style='margin-top:0pt;margin-bottom:0pt;text-align:justify;'><font size=2>(Former
          name or former address, if changed since last report) </font></p>
      </td>
    </tr>
  </table>
  <br>
  <HR noshade align="center" width="100%" size="5">
  <p style='page-break-before:always'></p>
  <PAGE> <BR>
  <p style=' margin-bottom:0pt; margin-left:1in; text-indent:-1in;text-align:justify; margin-top:0pt;'><font size=2>Item
    5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Events. </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt; margin-left:0.89in; text-indent:-0.31in;text-align:justify; margin-top:0pt;'><font size=2>a)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the press release dated May 4, 2004, the text of which
    is attached hereto as Exhibit 99.1, for a description of the events reported
    pursuant to this Form 8-K. </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt; margin-left:1.5in; text-indent:-1.5in;text-align:justify; margin-top:0pt;'><font size=2>Item
    7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits </font></p>

  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>

  <p style=' margin-bottom:0pt; margin-left:0.89in; text-indent:-0.31in;text-align:justify; margin-top:0pt;'><font size=2>Exhibits </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt; margin-left:1.5in; text-indent:-0.5in;text-align:justify; margin-top:0pt;'><font size=2>99.1 Press
    Release dated May 4, 2004 </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style=' margin-bottom:0pt; text-indent:0.5in;text-align:justify; margin-top:0pt;'><font size=2>Pursuant
    to the requirements of the Securities and Exchange Act of 1934, the registrant
    has duly caused this report to be signed on its behalf by the undersigned
    hereunto duly authorized. </font></p>
  <p style=' margin-bottom:0pt;text-align:justify; margin-top:0pt;'><font size=2>&nbsp; </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;line-height:6.0pt;'><font size=1>&nbsp; </font></p>
  <p style='margin-top:0in;margin-bottom:2.9pt; margin-left:210.0pt;'><font size=2>DREW
    Industries Incorporated </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;line-height:6.0pt;'><font size=1>&nbsp; </font></p>
  <p style='margin-top:0in;margin-bottom:2.9pt; margin-left:210.0pt;'><font size=2>(Registrant) </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;line-height:6.0pt;'><font size=1>&nbsp; </font></p>
  <p style='margin-top:0pt;margin-bottom:2.9pt;'><font size=1>&nbsp; </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;line-height:6.0pt;'><font size=1>&nbsp; </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;margin-left:210.0pt;'><font size=2>By:</font><u><i><b><font size=2>
    /s/ Fredric M. Zinn </font></b></i></u></p>
  <p style='margin-top:0pt;margin-bottom:0pt;margin-left:246.0pt;'><font size=2>Fredric
    M. Zinn </font></p>
  <p style='margin-top:0in;margin-bottom:2.9pt; margin-left:246.0pt;'><font size=2>Executive
    Vice President and </font></p>
  <p style='margin-top:0in;margin-bottom:2.9pt; margin-left:246.0pt;'><font size=2>Chief
    Financial Officer </font></p>
  <p style='margin-top:0pt;margin-bottom:0pt;line-height:6.0pt;'><font size=1>&nbsp; </font></p>
  <p><font size=2>Dated: May 4, 2004  </font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>2
     </font></p>
  <br>
  <HR noshade align="center" width="100%" size="5">
</div>
</BODY>
</HTML>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d59469_ex99-1.htm
<DESCRIPTION>ADDITIONAL EXHIBITS
<TEXT>

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 Final//EN">
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+ 1.5ac) -->
     <!-- Project:        X:\JOBS\04-59469\d04-59469.eep                                   -->
     <!-- Control Number: 04-59469                                                         -->
     <!-- Rev Number:     1.0                                                              -->
     <!-- Client Name:    Drew Industries Incorporated                                     -->
     <!-- Project Name:   Form Type: 8-K                                                   -->
     <!-- Firm Name:      Curran & Connors (NY)                                            -->
     <TITLE>Drew Industries Incorporated</TITLE>
</HEAD>
<BODY>

<BR>
<div style='width:600;'>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>Exhibit 99.1</font></p>
<BR>

<table border="0" cellspacing=0 cellpadding=0 style='margin-left:7.7pt;'>
  <tr  style='height:17.4pt;'>
    <td width="310" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;' nowrap>
      <p style='margin-top:0pt;margin-bottom:0pt;'><b><font SIZE=2>FOR IMMEDIATE
        RELEASE</font></b><font size=1>&nbsp;&nbsp;&nbsp;</font></p>
    </td>
    <td rowspan="5" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;'><img src="aimg1.jpg" width="300" height="118"></td>
  </tr>
  <tr  style='height:17.4pt;'>
    <td width="310" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;' nowrap>
      <p style='margin-top:0pt;margin-bottom:0pt;'><b><font size=2>Date:</font></b><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>May
        4, 2004</font></p>
    </td>
  </tr>
  <tr  style='height:17.4pt;'>
    <td width="310" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;' nowrap>
      <p style='margin-top:0pt;margin-bottom:0pt;'><b><font size=2>Contact:</font></b><font size=2>
        Leigh J. Abrams, President and CEO</font></p>
    </td>
  </tr>
  <tr  style='height:17.4pt;'>
    <td width="310" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;' nowrap>
      <p style='margin-top:0pt;margin-bottom:0pt;'><b><font size=2>Phone:</font></b><font size=1>&nbsp;&nbsp;</font><font size=2>(914)
        428-9098 </font><font size=1>&nbsp;&nbsp;&nbsp;</font><b><font size=2>Fax:</font></b><font size=2>
        </font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>(914)
        428-4581</font></p>
    </td>
  </tr>
  <tr  style='height:17.4pt;'>
    <td width="310" valign=top style='padding:0in 5.9pt 0in 5.9pt; height:17.4pt;' nowrap>
      <p style='margin-top:0pt;margin-bottom:0pt;'><b><font size=2>E Mail: </font></b><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2><i>Drew@drewindustries.com</i></font></p>
    </td>
  </tr>
</table>

  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font SIZE=2>DREW
    INDUSTRIES ACQUIRES ZIEMAN MANUFACTURING COMPANY</font></b></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>White
    Plains, New York &#150; May 4, 2004 &#150; Drew Industries Incorporated (NYSE:
    DW) announced that it completed the acquisition today of Zieman Manufacturing
    Company. Zieman, a manufacturer of specialty trailers, chassis and chassis
    parts, has 10 factories in the Western U.S. Drew said terms of the transaction
    included $20.5 million in cash and the assumption of $5.1 million in debt.</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>Drew,
    a supplier of RV and manufactured housing (&#147;MH&#148;) components, reported
    that the acquisition expands its reach to RV and MH producers in the important
    West Coast market, while also adding specialty trailers, a new product line,
    to its already extensive line of products. The Company said the addition of
    Zieman is immediately accretive to earnings. </font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>Drew
    said Whittier, Calif.-based Zieman, which manufactures trailers for equipment,
    boats, personal watercraft and snowmobiles, as well as chassis and chassis
    parts for recreational vehicles and manufactured homes, reported a strong
    first quarter, including a 25% increase in revenues and higher profits. Zieman
    reported net sales of $44 million in 2003. The former owners of Zieman will
    continue with the Company, which is now part of Lippert Components, Inc.,
    Drew&#146;s wholly owned chassis and RV slide-out manufacturer headquartered
    in Goshen, Indiana. </font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&#147;This
    acquisition, our third over the last 10 months, fits our disciplined acquisition
    strategy from both a market expansion and valuation perspective,&#148; said
    Leigh J. Abrams, President and CEO of Drew. &#147;Jason Lippert, President
    and CEO of Lippert Components, and the rest of his management team is already
    in the process of integrating Zieman to better serve customers in both its
    business segments. The result is yet another step in our pursuit of becoming
    the leading supplier to the RV and MH markets. In addition, Lippert will attempt
    to market the highly respected Zieman brand of specialty trailers beyond the
    West Coast.&#148;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>Drew
    also announced it has increased its line of credit from $30 million to $50
    million to fund the transaction. </font></p>

  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&#147;We
    look forward to building on the platform that Zieman provides by adding our
    management and marketing expertise to their complementary line of products,
    creating another growth engine for Drew,&#148; Abrams concluded.</font></p>

  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><b><font size=2>About
    Drew</font></b></p>
 <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>
Drew,
    through its wholly owned subsidiaries, Kinro and Lippert Components, supplies
    a broad array of components for RVs and manufactured homes. Drew&#146;s products
    include vinyl and aluminum windows and screens, doors, chassis, chassis parts,
    RV slide-out mechanisms and power units, bath and shower units, electric stabilizer
    jacks, and specialty trailers. From 51 factories located throughout the United
    States and one factory in </font></p>

  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>Canada,
    Drew serves most major national manufacturers of RVs and manufactured homes
    in an efficient and cost-effective manner. Additional information about Drew
    and its products can be found at www.drewindustries.com.</font></p>




  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>-more-</font></p>





  <br>
  <HR noshade align="center" width="100%" size="5">
  <p style='page-break-before:always'></p>
  <PAGE>





  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><b><font size=2>Drew
    / page 2 of 2</font></b></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><b><font size=2>Forward
    Looking Statements</font></b></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><i><font size=2>This
    press release contains certain &#147;forward-looking statements&#148; within
    the meaning of the Private Securities Litigation Reform Act of 1995 with respect
    to financial condition, results of operations, business strategies, operating
    efficiencies or synergies, competitive position, growth opportunities for
    existing products, plans and objectives of management, markets for Drew common
    stock and other matters. Statements in this press release that are not historical
    facts are &#147;forward-looking statements&#148; for the purpose of the safe
    harbor provided by Section 21E of the Exchange Act and Section 27A of the
    Securities Act. Forward-looking statements, including, without limitation
    those relating to our future business prospects, revenues and income, wherever
    they occur in this press release, are necessarily estimates reflecting the
    best judgment of our senior management, at the time such statements were made,
    and involve a number of risks and uncertainties that could cause actual results
    to differ materially from those suggested by forward-looking statements. The
    Company does not undertake to update forward-looking statements to reflect
    circumstances or events that occur after the date the forward-looking statements
    are made. You should consider forward-looking statements, therefore, in light
    of various important factors, including those set forth in this press release.</font></i></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;  margin-top:0pt;'><i><font size=2>There
    are a number of factors, many of which are beyond the Company&#146;s control,
    which could cause actual results and events to differ materially from those
    described in the forward-looking statements. These factors include pricing
    pressures due to competition, raw material costs (particularly steel, vinyl,
    aluminum, glass, and ABS resin), availability of retail and wholesale financing
    for manufactured homes, availability and costs of labor, inventory levels
    of retailers and manufacturers, levels of repossessed manufactured homes,
    the financial condition of our customers, interest rates, and adverse weather
    conditions impacting retail sales. In addition, national and regional economic
    conditions and consumer confidence may affect the retail sale of recreational
    vehicles and manufactured homes.</font></i></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>#
    # #</font></p>
  <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><font size=2>&nbsp;</font></p>
  <br>
  <HR noshade align="center" width="100%" size="5">
  </div>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>aimg1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 aimg1.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#__@`<4V]F='=A<F4Z($UI8W)O<V]F="!/
M9F9I8V7_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-#AT5%A$8(Q\E)"(?(B$F
M*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_P``+"`!V`2P!`1$`_\0`
M'``!``$%`0$```````````````<#!`4&"`(!_\0`21```0,#`@(%!@L#"@<!
M`````0`"`P0%$082(3$'$Q1!414B87&!D187,E-6@I.4H='20K'"""-#4F)S
MDK+!\#,U5&-DE:+3_]T`!``H_]H`"`$!```_`)F1$1$1$1$1$1$1$1$1$1$6
MM=(&IW:2TE47*'8:HN;%3M>,@O)\._`!/L4-_'AK#_P/NY_-;!H?I.U=JG5U
M%:I.Q""1Q=.60$$,:,GCGAG&/:II1$1%_]"9D1$1$1$1$1$1$1$1$1$4$].]
M_P"U7NCL43\LHF=;,`?Z1_('U-P?K**5,_0%8R&W*_2,YXI83CU.?_!^*F5$
M1$1%_]&9D1$1$1$1$1$1$1$1$5*JJ8:*DFJJAX9#`QTDCCR:T#)/N7(]^NTU
M]OM;=9\[ZJ9TF"<[03P'L&![%8+JS0MC&G=&VVW.;ME;$'S?WCO.=[B<>Q;`
MB(B(B(O_TIF1$1$1$1$1$1$1$1%'_3/??).B'T<;]L]RD$``Y[!Q>?5@`?67
M.:V/H^LGE_7%LHG-W1"433>&QGG$'UXQ[5U2B(B(B(B(O__3F9$1$1$1$1$1
M$6$UCJ&/2VEZVZO(ZR)FV%I_:D/!H]_$^@%<X'I"U@3GX15_'_NE/C!U?](Z
M_P"V*Z;L<LE18+=-,\ODDI8G/<>;B6@DJ!.FF_>5M:FAC=F&V1B$8/`O/G//
M[A]51ZIGZ`K)AESOTC.9%+"?<Y_\'N*F5$1$1$1$16-=>K3:Y&QW"Z4=&]XW
M-;43MC+AX@$A6WPNTS](K5]]C_-?_]23_A=IGZ16K[['^:JTVH[%6S"&EO5O
MGD<<!D54QSC[`5DD6(=JS3;7%KM0VL.!P0:R/(_%/A=IGZ16K[['^:?"[3/T
MBM7WV/\`-7=%>+7<B107*DJR!DB"=K\>XJ\6+GU/I^FG?!/?;;%+&XM?')5Q
MM<TCF"">!7CX7:9^D5J^^Q_FGPNTS](K5]]C_-/A=IGZ16K[['^:?"[3/TBM
M7WV/\T^%VF?I%:OOL?YK+-<'-#FD$$9!'>H'Z<M3]OO<&GZ=^8:`=9/@\'2N
M'`?5;_F*BQ%U=37.*S:`I[G/_P`.DMK)2/'$8./;R7*]95S5];/65#]\U1(Z
M21WBYQR3[RJ*ZKT'9/@]HNV6][-DPA$DP[][O.=GU$X]BV%$1$1$1$1<O=)M
M^.H-=5\['[H*=W9H?#:S@<>MVX^U:HB<CD+_U<%T8](]UMM]HK-<JQ]5;:IX
MA:)CN="X\&D./'&<`CEA3!K^_C3>C+A7M?MG,?508/'K'<`1ZN?L7*R(JE-5
M5%%4LJ:6:2":,[F21N+7-/B"%T#HKI*-ST%<;E<RUU=9XB9B.'7#!V.QW%Q!
M'K'I7/U142U=3+4SO+Y9GE[W'FYQ.2?>J:(B+JZZ7V#3>B77>?!%/2-+&D_+
M>6@-;[3@+E>MK)[A6SUM5(9)ZB1TDCS^TXG)*HHIJZ4[]V+HVL5EB?B6X00O
MD`^;8QI_%Q;[BH56Q]'UD&H-;VVA>S?")>MF&.&QGG$'UXQ[5U2B(B(B(B(L
M!KF_#3>CKC<FNQ*R(LAX_P!([S6^XG/L7*7-7%OH9[G<:>@IF[IJF5L3!Z7'
M`4K5/\GZK9`YU+J&&64#@R2E+&GVAQ_<HCDC?%*^)XVO8XM</`A?&/=&]KV.
M+7-.01W%2MTW:D=6NM-F:<=7"VKJ&^#W##0?2!G_`!+_UH94F="&G&734E1=
M:F%LE/;XL-#VY!D?D#GX`.]X5?IUI;+27>VLH(((:YT;W50A8&Y:2-A=COX.
M_P!X46+.TU<^WZ)K:9CB#=JN-KA_8A!<?>Z1O^$K!+9^CRP4.H=604UTDC90
M1-,M1UDFP/:.3<Y',D<N[*F;XO>C#_I:+_V,G_Z+S+T<='4U)4FBM]-++'"Y
M^(JZ1Y;@<\!_BN=$4J=,>J.O@M>FJ>0[*>".>JP>;RT;&GU`Y^L/!16O<L,L
M):)8W,+VA[=PQEIY'U+PM@UG?_+UV@<Q^ZGHZ.&EA]36#<?:XN_!:^IGZ`K)
MAESOTC.9%+"?<Y_\'XJ941$1$1$1%"W3W?MTENT_$_@T&JG`/?Q:P?YC[0H<
M4F=!VGO*.J)KQ-'F&VQ^82.!E=D#W#<?<IVN=P@M5LJ;A4N#8::)TKR?`#*Y
M!J)G5-3+.X`.E>7D#D"3E7-EHFW*]4='([;%+,T2._JLSYSO4&Y/L5;4EY?J
M#45==7@CM,I<QI_99R:WV-`'L6,68M&K;_8*22EM5SFI(97;WMCP,G&,YQGD
M%__7AVIJ:BLJ'U-5/)/-(<ODD<7.<?$D\U?6+3UUU)7MHK51R5$I(W$#S6#Q
M<>0"K:HCBH[N;33S">&V-[,)&C`>X$E[O47EV/1A8=$4Y=#=A%'HBYWJ1N)+
M@'LC)']&P$?BXN]P4&HJM75SUU5)55,ADFE.Y[CWE9'2U@FU-J2BM$.X=?(.
ML>!\A@XN=[!E;?TV6R&VZMHFTT8C@=;HVL:!P&PN:![@U1TB+JS0MC&GM&6V
MWENV5L(DFX<>L=YSO<3CV+8$1$1$1$1?"0`23@#F2N3=87IVH=67&YEY<R:<
MB+T1C@S_`.0%AE*V@^E#3FC=)MMSK;7RUI>Z29[&LV2.)X<2[(P`!R[EK.L^
MDN]:Q#J:0MH[=OW-I8CSQRWN_:_`>A:>MBH+?);-(5>H)06.JW]AHLCB[(/6
MO'H#06?7/@M=5U;;;4W6L%)2,WRECWX]#&EQ_!I5JKJU314UWHYYHV211SL>
M]DC0YKFAP)!!X$8\5U)J2NI=):.N-?20PTPIX'&)L;`UO6'@S@/[1"__T(:<
MYSW%SB7.<<DDY)*J4M-)65<-+",R3R-C8/$DX'[UT3#T3:"BIHVST+9'M8`^
M4UD@W'D3P=@9*K#HDT"[&+3G/+%9+^M;/Y/I;5IQ]!11"&FIZ9S(V`D[0&GO
M/$KD1$4Y]!.FVTUHJM13Q_SU6XPP$CE&T^<1ZW</JJQ_E!4H#K'5@')$T;CW
M<-A'[RH:1;)T>687W75KHWMW1-EZZ4'EM8-Q!]>,>U=4(B(B(B(B+4>E"_&P
M:$KIHW[9ZD=FA\<OX'W-W'V+F%$1K2YP:T$DG``YE25H7H?N5[FCKK_%+06\
M$$1.&V:;T8_9'I/'P\5;=,5TIY=24]AH&-BH;-`(61L'FM>0"['J&T>L%1\I
MAZ"=-MG\HWVIC!86FDAR.><%Y]VT>TJ):^E=0W&IHW_*IY71'UM)'^BH*7>E
M75?;=":<H(Y<R7"GCJZCCQP&@`'UN)]K5$2+_]&&5OG0W8O*^NH:F1F8+:PU
M#L\MW)@]YS]5=#W'_EE5_<O_`'%<>(KVRVJHOEYI+72#,U5*(V^`SS)]`&3[
M%UI:[=3VBUTMMI&[8*6)L;!WX`QD^GO4=]/-)UND**J`R8*T`GP#F._U`4!(
MIEZ`K(=USOTC>``I83[G/_@4SHB(B(B(B+`ZHT=:=7Q4\5V$[F4SG.8V*4L&
M3CB?'E^)6N_$IHSYBK^\E/B4T9\Q5_>2O3.A;1;7AQI:IX!^2ZI=@^Y;+9M(
M:=T^0ZUVBFIW@8ZP-W/_`,3LG\5F5H%?T,Z7N5PJ*ZHEN)FJ9'2R$3CBYQR?
MV?%4/B,TC\Y<?MV_I6ZV"Q4.F[-!:K<QS:>#.W><N)))))[SDK5+IT.:6NUT
MJKC4.KFS54KI9!',`W<XY.!M\2K7XC-(_.7'[=OZ5<5G0WIFN%.*BHN3A30B
M"(=>WS6`D@?)\25;_$9I'YRX_;M_2GQ&:1^<N/V[?TI\1FD?G+C]NW]*V72>
MB;1HR&ICM0F/:7-=(Z9X<XXS@<`.'$^]?__2F.:)L\+XGYVR-+3CP(PH\^(S
M2/SEQ^W;^E/B,TC\Y<?MV_I67TST8Z>TI=O*=O%3)4",L:9Y`X-SS(P!QQP]
M1*V]8G4FG*#55G?:[CUH@>]K\Q.#7`@Y&#@K3_B,TC\Y<?MV_I3XC-(_.7'[
M=OZ5N6G=/4&E[-%:K<UX@B+G`R'+G$G))/\`ODLHB(B(BMJ.N@KVS.@<2(9G
MPOR,><TX*L7:GM3+U5V=TY;64D':)(RT\68R2T]^`1P]*R5+41UE)#50DF.9
MC9&$C'`C(6&H]8VJMJ(8F"JC;43.@AFEIW-BDD:2"T/QC.6GUX65N%=!;*&6
MLJ7%L,0RX@9//'+VIVZ#REY/W'K^IZ[&.&W.WGZU0NMYIK1V=DL<TTU2\L@@
M@CWOD(!<<#T`$Y*KV^NAN5#'5P"1L<F<"6,L<""006GB#D%8\ZGI6WCR5V*X
M=HSS%*[9MW;=^[^KD\U>W:Z4UEMLMPK"\0P[=VQI<[B0T8`Y\2%3M5ZI+NZH
MC@;/%-3.#9H:B)T;V9&02#W$<BJOE*F\K"U[CVDP=HV[>&S=MSGUJA=K[2V>
M:EAFBJ)IJLN$,=/"9'.VC)X#T*]IIQ4T\<PCDC#VYV2MVN;Z".XK%Q:IMLUR
M[#&*EQ[0ZF$_9W]296YRS?C&1@CUC"S*\R2-BC=(\X:P%Q/H"HV^N@N=NIJ^
ME<7054398R1@EKAD</45C8-6V>HCKWQ5#CY/JQ25#=ARR0O#!P[QN.,^@^"R
M\LL<$3Y97AD<;2YSG'`:!Q)*QEJU'07B814S:ECG1==&9Z9\8ECR!N:7`9'$
M>GB%<7.\4EI9%V@R/DG?LAAAC=))([&3AHX\`"2>07JVW.ENU*:BE<_#7F-[
M)&%CXWCFUS3Q!"__TY-N.K+1:ZR:EJI)VOIV,DG>RFD>R%KL[7/<UI#1YIXD
M]RR[Y&LC=(X^:T;B?0L3:-46J^2LBHGU&Z2'KX^NII(A)'D#<TN:`X><WEXA
M75SN]):61=H,CY)W[(888W222.QD@-:,\`"2>07NVW.DNU,:BD>YS6O=&]KV
M%CF/'`M<UP!!'I5A<-66BV5TU'523M?3L8^=[*61\<+79VE[VM(:#@\SW+-*
MQHKU;[C7UM#25+9:B@<UM0P`^83G''OY$<.\$=RIWB^T5BA;-7-J>J=G+X::
M24-QCY18#MYC&>:NZ*K974K*F..:-K\X;/"Z)XP<<6N`(Y=X5C2:BH:VX/H:
M=E8]\<KXG2=CE$0>S(<.LV[>8(YJXNMUI+-1=LK7/;%O9&.KC=(XN<X-:`UH
M)))("6V[T5V9*:21^Z%VV6*6)T4D9QD!S'`$</1Q5ZBQUGMTEMCJVR/:[KZR
M6=NWN#W9`/I6"O.C)[E57>M@JXX*NIZIU%+@YB<R,L<'>+7!Q!'@?$!;);*5
MU#:J2D>X.?!`R-Q;R):T#A[EK%OTI=V4]#;JV>B;04->ZM#H2]TLIZUTC6G(
M`:`7#//.%L-^MK[Q8ZNWQRB&2>/#'D9#7<QD>&0K2V6ZZ.O<EVNII(Y.S-IH
MX:5SGMQN+G.+G`')..&.&.97G4]FGO$-*V*EH:IL,A<^&K<Z//#`+)&@N8X'
MP'$9"NM.V^KM5C@HZZK-5/&7%TA<YV`7$AH<[SB&@AN3Q.%Z-ND.I&W/>WJV
MT9@V_M9+P[/JX*CJFSR7_3M3:XWL8Z<L\YY(&`]KCRX\@5YL5A98JNX]FVMI
M*J5DL;-SG.8X,#79)XX\T$<?<JAM4OPM%XZQG4B@--LX[MW6!V?5A6&J].5%
M]J[740LIY6T3Y'/BGF?$'[F[1AS`3PYK.4$3X*""&1C(WQQM:6QO+FC`Q@$\
M2/6M8CTO=&:E%?%V*CC[8Z>6HI9Y6OJ(SG^;DAQL)X@%^2>&<`K;U2J8C-2R
MQ-(!>PM!/I"L]/VZ2T:=MMMF>Q\M)2QPO<S.TEK0"1GNX+6:[0]=-%'+254$
M-4;C)+4$YVS4SJHSAIX?*;PQZ2X9P<K:[M;VW:SUMM>\QMJZ>2`O'-H<TMS^
M*L[)%?X>KANC;>RGA@$;>S/>]\KQCSSN#0T8'R?.Y\^"^7JV5M17V^YVXP/J
M:$R#J:A[F,D:]H!&X`EI&`0<'O'>O=AMM501ULU<Z$U-?5.J9&0$ED?FM8&@
MD`GS6#C@9.>"PE^T3)>*^\UW6L$M530,I&F9[6!\9>?YQHX.:26\P[AG@MMG
MC,M-)&,`O86^@9"__]21M)Z5IM.VNC:^-K[A%2,@FFZU\@X`;@S=\EI(S@`<
MAPX*M>[973W&W72V]0^IH>L;U-1(YC)&2``^<UKB""UI'`]X[U4L%LJJ!E;/
M7/B-57U1J960DED?FM8&@D`G`8..!DYX+"WS14EVN-XK^LC,M3!3MI&NF>U@
M?&7$]8T>:YI)'`AW#*VNHZ\4LO91&:C8>J$A(878X9(&<9]"U6QZ-K[%<Z"N
M9=WUA$3XJUD[6-#P\F0N:6M!)ZPY\XG@X\?'.Z@MTUVL=30P.8V24-#2\D-&
M'`\<`^"R2U.RZ=N%LU!4U<E+3.AGK)Y^O;<I]P:\D@=1LV9X@<_2LGJFUUEV
MM,<%!U!GBJH*AHG>6,=U<C7D$AKB,[<<BO-EM==#=;A=[GV>.IK6Q1B&F>Y[
H(V1[L><YK222\]P[@LVB(B(B(B(B(B(B(B(B(B__U9F1$1$1$7__V3\_
`
end

</TEXT>
</DOCUMENT>
</SUBMISSION>
