Goodyear Monthly Investor Update

AKRON, Ohio, Sept. 17,2002, Goodyear's Investor Relations department today published its monthly update for individuals interested in tracking Goodyear's progress on a more frequent basis.

August Operating Highlights

North American Tire

* In August, industry shipments of consumer replacement tires were 8 percent below last year's levels. Goodyear's shipments of consumer replacement tires were also down and below the industry shipment levels.

* Goodyear's shipments to its large wholesalers continued to improve in August. Shipments of the Goodyear brand, excluding the tires shipped last year as part of the Ford replacement program, increased compared with August 2001. Shipments of custom brand tires declined significantly from August 2001 levels.

* Industry shipments in August of commercial replacement tires were up 18 percent from last year's levels. Goodyear's shipments of commercial replacement tires increased but were below industry shipment levels.

* In August, industry shipments to original equipment customers increased 3 percent from a year ago for consumer tires and 23 percent for commercial tires. Goodyear's shipments of OE consumer tires were down compared with last year. Goodyear's shipments of OE commercial tires increased less than industry levels.

European Union

* In August, industry replacement tire shipments were down 1 percent for consumer tires and down 6 percent for commercial tires compared with prior year levels. Goodyear consumer tire shipments declined at the same rate as the industry and Goodyear commercial shipments were below industry shipments.

* Industry OE consumer and commercial tire shipments were each down 4 percent from August 2001. Goodyear shipments, however, were down less than the industry.

Eastern Europe

* Consumer replacement tire unit sales for Goodyear were up significantly compared with August of last year. Volume gains were reported in most countries, especially Russia and South Africa.

* OE tire unit sales for Goodyear were down significantly from August of last year due to longer summer shutdowns by auto and truck manufacturers.

* Operating income improved over last year due to higher volumes, stronger mix and lower conversion costs partially offset by higher SAG expenses.

Latin America

* August replacement tire shipments were up from last year, primarily due to higher consumer sales in Mexico and Venezuela and strong commercial sales in Brazil.

* OE shipments were down significantly from last year due to a decrease in auto production in Mexico and Brazil.

* Price/mix improvements and lower raw material costs were partially offset by negative currency volatility resulting in higher operating income compared with last year.

* Currency volatility in Brazil continued as the Real revalued 8 percent in August. The Real devalued 31 percent year-to-date.

Asia

* Replacement tire shipments increased throughout the region in August.

* OE tire shipments for August declined from 2001 levels due to lower sales in China and the ASEAN region.

* Improved price/mix and lower raw material costs increased operating income.

Engineered Products

* Lower sales of conveyor belts and power transmission products negatively impacted sales and operating income in August.

Chemicals

* Sales are lower due to the sale of the specialty chemical business.

* Higher raw material costs have offset improved mix and volume.

Corporate News

* On Sept. 13, Goodyear contributed 11.3 million shares of common stock to two of its pension funds. The company has entered into a registration rights agreement with The Northern Trust Company, the trustee and investment advisor to the Trust, with respect to the 15.6 million shares contributed by Goodyear to the funds. The shares account for less than 7 percent of the value of the fund. The contribution reduces pension expense with no material impact on earnings per share expected through 2003.

* In a ceremony filled with patriotic music and messages, millions watched on television and in person Sept. 5 as Goodyear christened its newest airship -- the Spirit of America. The blimp was christened by Letitia Driscoll, the mother of New York police officer Stephen Driscoll, who was killed in last year's Sept. 11 attack on the World Trade Center. NBC's Today show, CBS's Morning Show and CNN broadcast live from the event. The new airship will be based in Carson, Calif., and replace the Eagle, which is being retired.

* Goodyear Dunlop United Kingdom has opened its new headquarters and national distribution center - TyreFort - in Birmingham, England. TyreFort is home to each company's sales and marketing functions, retail operations, and their shared services functions such as finance, human resources and information technology. The consolidation into one facility will lead to the closure of 16 distribution centers and a reduction of 268 associates in the United Kingdom.

* Goodyear Dunlop Portugal has been named one of the "500 Biggest & Best" companies in that country by Exame magazine. Goodyear Dunlop placed third in the transportation equipment category. Exame magazine is Portugal's leading business publication.

* More than 780 dealers from 21 countries received their orientation to Goodyear Asia's "Neovation 2002" at the Genting Highlands Conference Center near Kuala Lumpur, Malaysia recently. The dealers - together with 40 motoring, business and economics writers from Malaysia, Korea, Thailand, the Philippines and Indonesia - were present for the introduction of Goodyear's latest tires for the Asia market, the Wrangler AT/R and the Fortera, specially designed for SUVs. The Wrangler is being manufactured in seven sizes in Indonesia while the Fortera is produced in four sizes in the Philippines.