Industrial Manufacturing News

Goodyear is one of the largest users of natural rubber in the world and supports agricultural and economic initiatives that encourage its development. This transaction is not expected to significantly impact the company’s ability to acquire natural rubber for its operations.

GSP, which began operations in North Sumatra, Indonesia in 1917, has approximately 5,000 employees.

Goodyear recorded a non-cash after-tax charge of $15.6 million (8 cents per share) in the fourth quarter of 2004 in connection with the transaction due primarily to the write-off of cumulative foreign currency translation.

Goodyear is the world’s largest tire company. Headquartered in Akron, Ohio, the company manufactures tires, engineered rubber products and chemicals in more than 90 facilities in 28 countries. It has marketing operations in almost every country around the world. Goodyear employs about 80,000 people worldwide.

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including the completion of post-closing adjustments associated with this transaction. Additional factors that may cause actual results to differ materially from those indicated by such forward-looking statements are discussed in the company’s Form 10-K for the year ended December 31, 2004 and Form 10-Q for the quarter ended June 30, 2005, which are on file with the Securities and Exchange Commission. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.