Goodyear Eliminates Dividend

    AKRON, Ohio, Feb. 4 -- The Board of Directors of
The Goodyear Tire & Rubber Company today approved the elimination
of the company's quarterly dividend.
    The dividend decision represents an expected annualized cash flow benefit
of approximately $84 million, compared to the previous 12 cents per share
dividend rate.
    "The elimination of the dividend is an important step in a series of
actions the company is taking to improve its financial flexibility in light of
recent disappointing results and challenging economic conditions," said
Robert J. Keegan, president and chief executive officer.  "This action follows
recent actions that we have taken to improve our cost structure and strengthen
our balance sheet."
    Goodyear is the world's largest tire company.  The company manufactures
tires, engineered rubber products and chemicals in more than 90 facilities in
28 countries.  It has marketing operations in almost every country around the
world.  Goodyear employs about 92,000 people worldwide.
    Certain information contained in this press release constitutes forward-
looking statements for purposes of the safe harbor provisions of The Private
Securities Litigation Reform Act of 1995.  Actual results may differ
materially from those indicated by such forward-looking statements as a result
of various economic, financial and industry factors including without
limitation the company's ability to implement its cost-cutting plans and
achieve its sales targets.  Additional factors that may cause actual results
to differ materially from those indicated by such forward looking statements
are discussed in the company's Form 10-K for the year ended Dec. 31, 2001 and
Form 10-Q for the quarter ended Sept. 30, 2002, which are on file with the
Securities and Exchange Commission.  In addition, any forward-looking
statements represent our estimates only as of today and should not be relied
upon as representing our estimates as of any subsequent date.  While we may
elect to update forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so, even if our estimates change.