Cooper Tire Announces Intent to Buy Hercules Retreading Assets

    FINDLAY, Ohio, May 9 COOPER TIRE & RUBBER COMPANY
today announced Cooper's intention, as of June 30, 2001, to
purchase certain manufacturing assets used in Hercules' retread operation and
will soon begin to supply retread products to customers formerly served by
Hercules. The purchase does not include any facilities as Cooper will further
utilize existing resources. This purchase will significantly increase sales in
the Oliver Retreading Systems and Products unit, which is a part of Cooper's
new commercial division. Also included in this sale are certain assets of the
Cedco equipment division, which will benefit Oliver's Salisbury equipment
operation.  The final price is subject to certain valuations at closing but
will not exceed $8.5 million.
    
    In late 2000, Cooper announced a restructuring plan, which integrated the
Oliver retreading operation and Cooper's radial medium truck tires into a new
commercial division.  In April 2001, Oliver's business operation was
transferred to Findlay, Ohio and an expanded distribution system was
established to better serve dealers in the United States. With this new
acquisition, Cooper will offer an even larger retreading support system for
Oliver, Long Mile and Hercules customers.

    "We were looking for an opportunity to increase sales in our retreading
operation and Hercules fits perfectly with our Oliver unit," said Larry
Enders, Cooper's commercial products president.  "Over the past six months we
have been streamlining retreading assets and maximizing our facility
utilization to enhance our customer service capabilities.  We are now ready to
serve an expanded customer base and are looking forward to meeting the needs
of our retreading customers."

    Hercules president and CEO, Craig Anderson said, "We were happy to find a
resource committed to the independent dealer and a leader in technology.
Cooper has the resources and a stable program, so we believe our dealers will
be in good hands."

    Cooper and Hercules will work together to make the transition for all
dealers as smooth as possible, assuring dealers a consistent supply of quality
products during the transition.  Oliver's sales force will immediately begin
serving the Hercules dealers as soon as the transaction is finalized.