Goodyear Comments on S&P Ratings Announcement

AKRON, Ohio, April 2 -- The Goodyear Tire & Rubber Company said the ratings announcement issued today by Standard & Poor's Ratings Services is consistent with the agency's March 20 announcement.

In its announcement, S&P said its action was the result of the increase in the amount of Goodyear's secured debt following the April 1 completion of a restructuring of the company's credit facilities.

Goodyear said the new credit agreements will provide the company with additional flexibility and liquidity as it executes a turnaround of its North American Tire business.

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 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.