Bandag, Incorporated Appoints Amy P. Hutton to Board of Directors

MUSCATINE, Iowa, June 27 -- Bandag, Incorporated announced today that Amy P. Hutton has been appointed to its Board of Directors. Dr. Hutton fills the vacancy created by Lucille A. Carver's retirement in May 20, 200302.

Dr. Hutton is an Associate Professor at the Harvard University Graduate School of Business Administration and teaches both M.B.A. and Executive courses on Financial Reporting and Disclosure. From January to June of 2003 she has been a visiting scholar at the Graduate School of Business at Stanford University. Beginning July 1, Dr. Hutton will assume the duties of Associate Professor of Business Administration at the Tuck School of Business at Dartmouth College in Hanover, New Hampshire. Dr. Hutton has authored numerous publications on the subjects of accounting practices and financial reporting and controls.

Bandag Chairman and Chief Executive Officer, Martin G. Carver, welcomed Dr. Hutton to the Board with high praise for her depth and breadth of understanding of issues facing corporate America. "Amy Hutton has a unique perspective on corporate governance and will not only be a valuable addition to our Board, but an excellent resource for our organization. As a member of the Audit Committee she will bring a wealth of knowledge of accounting practices as well as financial reporting and disclosure information to the Committee. We are delighted to have Amy on our Board," said Mr. Carver.

Dr. Hutton will immediately begin serving on the Board and will continue to serve until the annual shareholders' meeting in May 2004, when she will stand for election by the Bandag shareholders.

Bandag, Incorporated manufactures retreading materials and equipment for its worldwide network of more than 1,100 franchised dealers that produce and market retread tires and provide tire management services. Bandag's traditional business serves end-users through a wide variety of products offered by dealers, ranging from tire retreading and repairing to tire management systems outsourcing for commercial truck fleets. Tire Distribution Systems, Inc. (TDS), a wholly-owned subsidiary, sells and services new and retread tires.