Drew Industries to Introduce New RV Awning Product Line

WHITE PLAINS, N.Y., Aug. 8, 2011 /PRNewswire/ — Drew Industries Incorporated
(NYSE: DW), a leading supplier of components for recreational vehicles (RV) and
manufactured homes, today announced that its wholly-owned subsidiary, Lippert
Components, is preparing to launch a newly developed line of RV awnings. This
new product line will be formally introduced in late September at the open house
events held by RV manufacturers in Indiana.

The awnings will be manufactured in one of Lippert Components’ existing
facilities in Goshen, Indiana, and will be available in both manual and electric
versions. Todd Driver, VP of Operations – RV Products, and Steve Jenkins,
Director of Manufacturing for RV Accessory Products, and his operating team,
will provide the manufacturing leadership for this product line. The Company
plans to market the awnings directly to RV manufacturers, as well as through
aftermarket distributors.

“As with our previous product introductions, the RV awning product line has been
designed to add significant value for the RV owner, and the awnings will be
priced to provide value to our customers, the RV manufacturers,” said Jason
Lippert, CEO of Lippert Components. “By pricing the product right, providing
more durable components, and offering innovative features and options not
generally found in the marketplace, we expect to capture market share in this
$100 million plus market.”

“The raw materials, components, and manufacturing processes used in awnings are
very similar to those we use extensively in our existing product lines, so we
will be able to quickly ramp up production and efficiencies,” said Scott
Mereness, President of Lippert Components. “Further, with our previously
announced aluminum extrusion facility, scheduled to open late in the third
quarter of 2011, we will be able to produce the extruded aluminum components
used in our awnings. Additional information about the aluminum extrusion project
will be forthcoming.”

“The RV awnings are another step forward in our long-standing strategic plan of
profitable growth through new product introductions, acquisitions and market
share gains,” added Jason Lippert. “The introduction of this exciting product
line follows two accretive acquisitions we made so far this year, which added an
aggregate of nearly $25 million in annual sales. We will continue to pursue
similar opportunities, both through internal development and acquisitions.”

About Drew

Drew, through its wholly-owned subsidiaries, Kinro and Lippert Components,
supplies a broad array of components for RVs and manufactured homes, including
windows, doors, chassis, chassis parts, bath and shower units, axles, and
upholstered furniture. In addition, Drew manufactures slide-out mechanisms for
RVs, and trailers primarily for hauling boats. Currently, from 28 factories
located throughout the United States, 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.

Forward-Looking Statements

This press release contains certain “forward-looking statements” 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 the Company’s
Common Stock and other matters. Statements in this press release that are not
historical facts are “forward-looking statements” for the purpose of the safe
harbor provided by Section 21E of the Securities Exchange Act of 1934 and
Section 27A of the Securities Act of 1933.

Forward-looking statements, including, without limitation, those relating to our
future business prospects, net sales, expenses and income (loss), cash flow, and
financial condition, whenever 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, and in our subsequent filings
with the Securities and Exchange Commission.

There are a number of factors, many of which are beyond the Company’s control,
which could cause actual results and events to differ materially from those
described in the forward-looking statements. These factors include, in addition
to other matters described in this press release, pricing pressures due to
domestic and foreign competition, costs and availability of raw materials
(particularly steel and steel-based components, vinyl, aluminum, glass and ABS
resin) and other components, availability of credit for financing the retail and
wholesale purchase of manufactured homes and recreational vehicles (“RVs”),
availability and costs of labor, inventory levels of retail dealers and
manufacturers, levels of repossessed manufactured homes and RVs, changes in
zoning regulations for manufactured homes, sales declines in the RV or
manufactured housing industries, the financial condition of our customers, the
financial condition of retail dealers of RVs and manufactured homes, retention
and concentration of significant customers, interest rates, oil and gasoline
prices, and the outcome of litigation. In addition, international, national and
regional economic conditions and consumer confidence affect the retail sale of
RVs and manufactured homes.

SOURCE Drew Industries Incorporated