Bandag, Incorporated Declares Quarterly Dividend

    MUSCATINE, Iowa, May 15 The Board of Directors of Bandag, Incorporated, (NYSE: BDG and BDGA) today
declared a regular quarterly dividend of $.305 per share on the Common Stock,
Class A Common Stock and Class B Common Stock of the Company payable July 20,
2001 to shareholders of record at the close of business on June 19, 2001.
    Bandag, Incorporated manufactures retreading materials and equipment for
its worldwide network of nearly 1,300 franchised dealers that produce and
market retread tires and provide tire management services.  Bandag's
wholly-owned subsidiary, Tire Management Solutions, Inc. (TMS), provides tire
management systems outsourcing for commercial truck fleets.  Tire Distribution
Systems, Inc. (TDS), also a wholly-owned subsidiary, sells and services new
and retread tires.

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