Bandag, Incorporated Declares Quarterly Dividend

    MUSCATINE, Iowa, Aug. 28 The Board of Directors of
Bandag, Incorporated, 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 October 19, 2001 to shareholders
of record at the close of business on September 20, 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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