Goodyear Releases Monthly Investor Update

AKRON, Ohio, Nov. 20, 2002; Goodyear's Investor Relations department today published its monthly update for individuals interested in tracking Goodyear's progress on a more frequent basis. October Operating Highlights

North American Tire * In October, industry shipments of consumer replacement tires were 4 percent below last year's levels. Excluding the tires replaced as part of last year's Ford replacement program, the industry and Goodyear were both down 3 percent, while shipments of the Goodyear and Dunlop brands increased compared with October 2001. * Goodyear has recently expanded its presence in several channels of distribution including Sam's Club (500 outlets), TBC (750 locations), and in the Mid-Atlantic and Northeast regions of the United States. Goodyear will convert 44 of the Winston Tire outlets located in California to Just Tire stores. The Just Tires retail format sells about three times as many tires per day as other Goodyear tire and service outlets. Goodyear now has 144 Just Tire locations. * On Nov. 1, North American Tire announced a price increase on its consumer tires of 4 percent to 5 percent due to anticipated increases in raw material costs. The increase, effective Dec. 1, will apply to all Goodyear, Dunlop and Kelly brand consumer replacement tires. * Industry shipments of commercial replacement tires in October were up 9 percent from last year's levels. If Goodyear had been able to fill its back-orders in October, shipment growth would have been higher than the industry. The company is increasing production, importing tires from Brazil and from the Sumitomo joint venture in Japan in order to meet demand. * In October, industry shipments to original equipment customers increased 12 percent from a year ago for consumer tires and 29 percent for commercial tires. Goodyear's shipments of OE consumer and commercial tires increased less than industry levels. * Unfavorable price/mix, lower volume and conversion costs were partially offset by lower SAG and raw material costs. * John Polhemus, 58, president of Goodyear's North American Tire business unit, elected to retire after more than 33 years of service with the company. Effective Dec. 1, 2002, Jon Rich, 47, will succeed Polhemus. Rich, president of the Chemical division since 2001, led the restructuring of Chemical operations and posted increases in earnings and cash flow in 2002. Rich came to Goodyear in 2000 after serving in various senior management positions during his 18 years at General Electric.

European Union * In October, industry replacement tire shipments increased 11 percent for consumer tires and 2 percent for commercial tires compared with prior year levels. Goodyear consumer tire shipments grew faster than the industry, while Goodyear commercial tire shipments were slower than the industry. Strong sales of snow tires in Germany were partially offset by weak volumes in the UK. * Industry OE consumer shipments were down 2 percent and commercial tire shipments were down 5 percent from October 2001. Goodyear consumer tire shipments, helped by additional volume at Nissan and BMW, were higher than last year. Goodyear commercial tire shipments were significantly higher than last year. * Operating income reflected the continued improvement in margin seen in the second and third quarters of 2002. Higher volume, lower raw material costs and improved conversion costs contributed to the increase in operating income. * The euro, at 0.987 to the U.S. dollar, was flat with September. Year- to-date the euro has strengthened about 10 percent.

Eastern Europe * Consumer replacement and OE tire unit sales for Goodyear were up significantly compared with October of last year. Volume increases in Poland fueled most of the growth. * Goodyear sales in the commercial replacement market also showed strong growth over October 2001 while sales in the original equipment market declined. * Operating income improved over last year due to higher volumes, favorable price/mix and lower conversion costs.

Latin America * Higher replacement tire shipments more than offset lower OE shipments compared with October 2001. * Price recovery and lower raw material costs resulted in higher operating income compared with last year but were partially offset by currency devaluations. * Currency volatility in Brazil continued as the real revalued 8 percent in October. The real devalued 57 percent year-to-date.

Asia * OE tire shipments for October increased significantly from 2001 levels. * Replacement tire shipments also increased throughout the region in October. * An improved mix of commercial tires and higher volumes increased operating income. Favorable conversion costs were offset by higher SAG expenses.

Engineered Products * Higher sales of military and replacement market products benefited sales and operating income in October. * The increased volumes and favorable price/mix were partially offset by higher raw material costs.

Chemicals * Chemicals had lower operating profit on increased sales due to higher raw material costs. * Joe Copeland has been named president of the Chemical division effective Dec. 1, 2002, succeeding Jon Rich, who has become president of North American Tire. Copeland joined Goodyear in 2000 and has held various positions including Director of Finance for the Chemical division. Prior to joining Goodyear, Copeland held management positions at Intel and Ford.

Corporate News * Given the early success of its new Eagle F1 GS-D3 ultra-performance tire, Goodyear's first "world" tire has global implications for the company's future new product plans. European marketers said Eagle F1 sales are about 25 percent higher than its predecessor, the Eagle F1 GS- D2, since the new tire was introduced in Europe nearly a year ago. Three German magazines ranked the tire ahead of its competitors. * Engineered Products is building an automotive hose plant in Delicias, Chihuahua, Mexico, with production scheduled to start mid-2003. The new facility's products are currently manufactured by Goodyear at Lincoln, Neb., and represent a portion of Lincoln's hose production phase-out, announced last January. The Engineered Products division is also adding an automotive air conditioning production line in its low-cost facility in Kranj, Slovenia, to take advantage of this fast-growing profitable market. * In a move that introduces the biggest-yet consumer radial tire, North American Tire announced that its Goodyear Wrangler MT/R sizing is expanding into 40-inch tire sizes in 17-inch wheel diameters. The much- anticipated 40x13.50R17 LT tire will be available in January 2003.