Cooper Tire & Rubber Company Lowers First Quarter Expectations

FINDLAY, Ohio, March 28 -- Cooper Tire & Rubber Company today revised its first quarter earnings expectations indicating that net income would likely be in the range of 17-21 cents per share. Current analyst consensus is 25 cents per share.

Cooper's chairman, president and chief executive officer Thomas A. Dattilo attributed the lower expectations to continuing weakness in the North American replacement tire market. "Replacement tire demand remains very soft, product mix has been weak, and raw material costs have been even higher than we expected. On the other hand, our automotive group operations have performed as expected, with sales exceeding last year's first quarter," Dattilo said.

The Company expects to release its first quarter results on April 17, 2003 before the market opens. Full details on the Company's operating and financial results will be provided at that time.

Company Description

Cooper Tire & Rubber Company, based in Findlay, Ohio, is a $3.3 billion company specializing in the manufacture and marketing of replacement tires and original equipment automotive components. Products for Cooper's Tire Group include automotive, motorcycle and truck tires, inner tubes, tread rubber and equipment. In the Automotive Group, Cooper is an original equipment supplier of sealing, trim, NVH control systems and fluid handling systems for the automotive industry in North America, Europe, Australia and South America. Cooper has more than 20,000 employees and 52 manufacturing facilities in 13 countries. For more information, visit the Company's web site at: www.coopertire.com .