Goodyear Releases Monthly Investor Update

AKRON, Ohio, May 21, 2003 -- Goodyear's Investor Relations department today published its monthly update for individuals interested in tracking Goodyear's progress on a more frequent basis.

  April Operating Highlights

                           North American Tire
  - Industry shipments of consumer replacement tires declined 1 percent from
    last year's levels.
  - Goodyear shipments of consumer replacement tires grew over last year.
    In total, Goodyear gained one-half point of market share compared with
    April 2002 and outperformed the industry.  Goodyear-brand shipments
    accounted for most of the growth in market share.
  - Industry shipments of commercial replacement tires in April were up
    7 percent over last year's levels.  Strong growth in Dunlop commercial
    tire shipments was offset by lower Kelly and associate brand shipments.
  - In April, industry shipments to original equipment manufacturers
    declined 13 percent from a year ago for consumer tires.  Goodyear's
    shipments of OE consumer tires declined more than the industry.
  - Goodyear gained market share in original equipment commercial tires
    where industry shipments grew 2 percent in April compared with April
    2002.
  - Segment operating income declined due to higher raw material and
    conversion costs, and lower OE volume partially offset by lower
    transportation costs.
  - Goodyear was named one of 15 top suppliers at a major warehouse club
    conference.  The supplier of the year award "recognizes excellence in
    service, business growth and partnership" with the club, which has more
    than 10,000 suppliers.
  - Dunlop SP 4000 DSST run-flat tires will be provided in a P225/60R17 size
    on the 2004 Toyota Sienna all-wheel drive minivan.  The DSST designation
    stands for Dunlop Self-Supporting Technology.
  - Two new television spots began airing in April with a heavy schedule of
    prime time, sports and cable programming set to showcase the Goodyear
    brand entering the prime tire selling season.  The two new "On the Wings
    of Goodyear" spots demonstrate how outstanding technology can help guide
    vehicles through a series of "compromising hazards."  The "Bouncing
    Balls" spot was selected as one of Adweek magazine's "Best Spots" for
    April.

                                European Union
  - In April, industry shipments of replacement tires were flat for consumer
    tires and up 1 percent for commercial tires compared with prior year
    levels.  Goodyear consumer tires gained market share compared with 2002
    due to strong sales in Germany, France and the United Kingdom.  Goodyear
    commercial tire shipments declined slightly compared with 2002.
  - Industry original equipment consumer tire shipments declined 5 percent
    from April 2002 levels.  Industry OE commercial tire shipments were
    3 percent higher in April 2003 compared with 2002 levels.  Goodyear OE
    consumer tire shipments were below industry levels due to lower volume
    at Volkswagen, while OE commercial tire shipments were higher than
    industry levels.
  - Favorable price/mix, currency translation and lower conversion costs
    offset higher raw material costs resulting in higher segment operating
    income.
  - The Euro, at 1.113 to the U.S. dollar, strengthened 2 percent in April.

                                Eastern Europe
  - Consumer replacement and original equipment tire unit sales for Goodyear
    were up significantly compared with April 2002.  Strong sales in Poland,
    Russia and the Middle East fueled the growth.
  - Goodyear tire sales in the commercial replacement market also showed
    growth over April 2002, while sales in the original equipment market
    declined.
  - Segment operating income improved over last year due to favorable
    price/mix and volume partially offset by increased advertising and
    distribution costs.
  - Goodyear Turkey recently introduced the GPS Taxi tire, which was
    specially designed for the local taxi market.  To launch the product,
    Turkish associates from all departments talked with taxi drivers
    introducing them to the new tire.

                                Latin America
  - Goodyear tire shipments declined significantly in April 2003 compared
    with 2002 due to market contraction in Brazil and Mexico.
  - Segment operating income was in line with last year's as the improvement
    in business mix was offset by lower volumes, unfavorable translation and
    raw material costs.
  - The Real revalued 13.7 percent in April compared with March.

                                     Asia
  - Goodyear original equipment tire shipments for April increased
    significantly from 2002 levels due to strong sales in China.
  - Replacement tire shipments for Goodyear were flat with 2002.
  - Segment operating income improved over April 2002 due to improved
    price/mix partially offset by higher raw material costs.
  - Goodyear's tire plant in Dalian, China, has become the company's first
    Asian plant and second worldwide Goodyear tire plant to receive ISO/TS-
    16949 certification.  ISO/TS-16949 is the International Organization for
    Standards Technical specification for Quality Management Systems.

                             Engineered Products
  - Sales declined compared with April 2002 due to continued softness in the
    conveyor belt business, partially offset with strong industrial hose
    sales and international sales over 2002.
  - Operating income improved as a result of the strong industrial hose
    business and improved price/mix in Replacement Products business due to
    increase sales of the Goodyear brand.

                                  Chemicals
  - Chemicals generated higher segment operating income on significantly
    higher sales.  Increased pricing was partially offset by higher raw
    material and energy costs.

  Corporate News
  - Goodyear's Board of Directors selected Robert J. Keegan to succeed Samir
    G. Gibara as chairman of the board.  Gibara will resign as chairman and
    a board member on June 30, 2003. James M. Zimmerman, chairman of
    Federated Department Stores and a Goodyear director since 2001, will
    serve as presiding director on the Board of Directors.  Zimmerman will
    preside over executive sessions of outside directors.
  - Goodyear reduced its holdings in Sumitomo Rubber Industries to 1.5
    percent by selling 20.83 million shares for $83.4 million.  Three-
    fourths of the proceeds were used to reduce debt.  "Our alliances and
    partnerships with Sumitomo remains strong," commented Robert J. Keegan,
    Goodyear president and chief executive officer.
  - Goodyear remained in the upper echelon of American businesses in Fortune
    magazine's 2003 ranking of the largest companies in the United States.
    Goodyear is the 139th largest business in the country, up from 144th
    place last year.
  - As part of the cost reduction focus, Goodyear has delisted from the
    Chicago, Pacific and Amsterdam Stock Exchanges.  Goodyear's stock
    trading volume on these exchanges was not significant.  Goodyear will
    continue to be traded on the New York Stock Exchange.

Goodyear is the world's largest tire company. Headquartered in Akron, Ohio, 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 95,000 people worldwide.