ALL AMERICAN HOMES OFFERS NEW FINANCING PROGRAMS TO BENEFIT BUILDERS, HOMEOWNERS
Programs Simplify Building, Construction, Mortgage Loans

Decatur, Ind.-- All American Homes, LLC, a leading producer of systems-built homes and a subsidiary of Coachmen Industries, Inc. (NYSE:COA), recently began offering two exclusive financing programs. One is designed to benefit its 400 builders and the other is a private label program extending different types of loans to homebuyers.

Through the new All American Builder Credit (sm) , Textron Financial Corporation will provide builders with financing to build model homes at their retail sales centers and buy lots to build spec homes. Textron Financial, a division of Textron, Inc., specializes in providing commercial financing to companies in a variety of industries. “This financing program allows our builders to be more aggressive and build homes that can be sold faster, while freeing up working capital for them to further develop their business,” said Steve Kerr, President of All American Homes.

“This is an exclusive program from Textron Financial for All American Homes' builders that offers extremely competitive rates,” said Lee Dickerson, Director of Modular and Construction Financing for Textron Financial. “It provides builders with a financing vehicle to purchase lots and build spec homes on them. This gives them the opportunity to sell homes already built instead of waiting for a customer to purchase the land and order a home.” Dickerson said Textron Financial is pleased to offer this program to All American Homes because of the numerous benefits of All American's systems-built home construction compared to traditional site-built homes. “It's a homebuilding method that's continuing to grow, thanks, in part, to a controlled building atmosphere that leads to greater quality, faster building times, and the ability to budget costs better,” Dickerson noted. One particular attribute, the homes' inherent strength, was aptly demonstrated in Florida recently. Local All American builders reported a remarkable absence of any structural damage to All American homes in the hurricane-stricken areas of the state. Because they're transported by highway to building sites, then lifted by cranes to be set in place on permanent foundations, All American's systems-built homes by necessity use more building materials than site-built homes. The additional lumber, nails, fasteners and adhesives greatly increase the homes' overall strength. In addition to the new financing available to builders, All American® homebuyers now have access to several home construction loan financing solutions. All American Financial Services (sm) is providing the financing in partnership with IndyMac Bank, a national leader in online loan origination, approval and servicing. “We now offer one-stop shopping for our retail customers by being able to provide financing options to help them buy and build their home,” noted Kerr. An online pre-qualification form at the All American Homes website ( www.allamericanhomes.com ) lets consumers determine how much they can borrow. Consumers who are ready to build may obtain a Construction-to-Permanent Loan with a single closing. This loan combines what are usually two loans – one loan for home construction, another for financing the home purchase – into one simple loan. The one-time close feature eliminates extra closing costs, extra paperwork and the additional hassles that go into applying for two loans. The loan covers a construction period, then seamlessly converts to a permanent mortgage when the project is complete. Consumers may also consider a Lot Loan, which is intended for the purchase of a lot for the future construction of a primary residence or vacation home. A Bridge Loan is designed for homeowners planning to construct a new owner-occupied primary residence, and lets them access the equity in their current home and use it as the down payment on a Construction-to-Permanent Loan. IndyMac Bank has dedicated loan officers for All American Homes® builders, so that each builder will work with the same contact person whenever they call for information. According to Alex Cole, Assistant Vice President of IndyMac Bank's Home Construction Lending Division, IndyMac Bank is conducting online training sessions for All American builders, in addition to providing a traveling team for on-site training. “This program gives All American builders a powerful new sales tool allowing more control during the sales process—and the potential for a greater success ratio in closing sales because consumers know how much they can afford,” said Cole. “It lets builders provide consumers with the information they need without having to be financial experts, and makes the entire purchase process go much faster and smoother.” Kerr said the two financing programs complement each other in the benefits they offer All American builders and home buyers. “All American Builder Credit gives our builders a unique selling proposition, because no other national homebuilding company provides a program like it, and it will be a big help to us in our subdivision development. Plus, the builders' financing program allows our builders to get more new models out for potential customers to see, further increasing visibility in the marketplace. And with our new home construction loans available directly to consumers, it's never been easier for families to buy their All American dream home.”

Homes built by All American Homes, LLC are made to meet or exceed state and local building codes and are constructed for placement on traditional site-built home foundations in residential neighborhoods. All American Homes has production facilities in Decatur, Ind.; Dyersville, Iowa; Milliken, Colo.; Osage City, Kan.; Rutherfordton, N.C.; Springfield, Tenn. and Zanesville, Ohio. Mod-U-Kraf Homes, a division of All American Homes® , is located in Rocky Mount, Va. All American Homes is a subsidiary of Elkhart, Ind.-based Coachmen Industries, Inc.

Coachmen Industries, Inc., now celebrating its 40th anniversary, is one of America's leading manufacturers of recreational vehicles with well-known brand names including COACHMEN® , GEORGIE BOY™ , SPORTSCOACH® and VIKING® . The Company's subsidiary, ALL AMERICAN HOMES® , is one of the nation's largest producers of systems-built homes. Coachmen Industries is also a major builder of commercial structures with its ALL AMERICAN BUILDING SYSTEMS ™ and MILLER BUILDING SYSTEMS ™ products. Prodesign, LLC is a subsidiary that produces custom composite and thermoformed plastic parts for numerous industries under the PRODESIGN® brand. Coachmen Industries, Inc. is a publicly held company with stock listed on the New York Stock Exchange (NYSE) under the ticker COA.

About Textron Financial Corporation: Textron Financial is a diversified commercial finance company with over $8 billion in managed and serviced finance receivables. It has core businesses in Aircraft Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at www.textronfinancial.com

About IndyMac Bank: With $12.1 billion in assets and a market cap of $1.5 billion, IndyMac Bancorp (NYSE:NDE) through its principal subsidiary, IndyMac Bank, is a leading technology-based mortgage lender and FDIC-insured consumer bank headquartered in Pasadena, California. IndyMac provides mortgage products on a nationwide basis through its business relationships with mortgage brokers, mortgage bankers, financial institutions, realtors and homebuilders. It also provides mortgage loans and banking products and services directly to consumers nationwide through the Internet, telephone and its Southern California retail branches. Gomez currently ranks IndyMac Bank as the No.1 overall online mortgage lender, a position it has held for six measurement periods since 2000. IndyMac Bank is the 19 th largest savings & loan nationwide. Additional information about the company is available at www.hcl.indymacbank.com.

For more information: Mike Donley, Marketing Manager, All American Homes, LLC 260-724-8044 (Decatur, Ind.) mdonley@allamericanhomes.com www.allamericanhomes.com Lee Dickerson, Textron Financial Services 800-205-3944, extension 4472 ldickerson@textronfinancial.com Alex Cole, IndyMac Bank 775-832-0555 alexander.cole@indymacbank.com

Arcticle Released Tuesday, October 19, 2004