NEWS
RELEASE
 
 FOR
IMMEDIATE RELEASE
 
 COACHMEN
INDUSTRIES, INC. COMPLETES SALE OF RV GROUP ASSETS
 
 Middlebury, Ind.,
Dec. 29, 2008 –On December 26th,
Coachmen closed on the sale of nearly all of the assets of the Recreation
Vehicle business to Forest River, Inc. announced Rick Lavers CEO of Coachmen.
The sale had been overwhelmingly approved by the Shareholders the previous
week.
 
 “While
the housing markets remain under intense pressure Coachmen Industries, Inc. has
substantially strengthened the financial stability of our Company with the
completion of the sale of our RV group.  Our Company is restructured
as a systems-built housing company with a growing specialty vehicle
business.  Our headquarters will remain in Elkhart County.” concluded
Lavers.
 
 Coachmen Industries, Inc. is one of
America's leading systems-built homes and commercial buildings, with
prominent subsidiaries in each industry. Coachmen Industries, Inc. is a publicly
held company with stock listed on the New York Stock Exchange (NYSE) under the
ticker COA.
 
 This
release contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned not to place
undue reliance on forward-looking statements, which are inherently uncertain.
Actual results may differ materially from that projected or suggested due to
certain risks and uncertainties including, but not limited to, the potential
fluctuations in the Company's operating results, increased interest rates,
uncertainties and timing with respect to sales resulting from recovery efforts
in the Gulf Coast, uncertainties regarding the impact on sales of the disclosed
restructuring steps, the ability of the company to generate taxable income in
future years to utilize deferred tax assets and net operating loss
carry-forwards available for use, the impact of performance on the valuation of
intangible assets, price volatility of raw materials used in
production,  availability of appropriate chassis for it’s bus
operations, the availability and cost of real estate for residential housing,
the supply of existing homes within the company's markets, the impact of home
values on housing demand, the impact of sub-prime lending on the availability of
credit for the broader housing market, the ability of the Company to perform in
new market segments where it has limited experience, adverse weather conditions
affecting home deliveries, competition, government
regulations,  legislation governing the relationships of the Company
with its recreational vehicle dealers, dependence on significant customers
within certain product types, consumer confidence, uncertainties of matters in
litigation, current litigation relating to the Company's use of components
containing formaldehyde in its products, further developments in the war on
terrorism and related international crises, oil supplies, and other risks
identified in the Company's SEC filings.
 
 For more
information:
 
 Thomas
      Gehl
              -
      or -
              Colleen
      ZuhlSecretary
      and Director of Investor Relations
              
              Chief
      Financial Officer574-825-8776
 
 
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