Michelin Teams With Bosch to Add Diesel Expertise To Challenge Bibendum(TM) Line Up

Robert Bosch Corp. will showcase 10 clean-diesel vehicles at annual environmental event

GREENVILLE, S.C., Aug. 12 -- Michelin announced today that Robert Bosch Corporation and Michelin will be working together to add an educational diesel component to the 2003 Challenge Bibendum(TM).

"Michelin's fifth annual Challenge Bibendum provides an innovative forum to discuss the importance of sustainable mobility and demonstrate new technologies. We are excited to be a part of this great event," said Kurt Liedtke, president, chairman and CEO, Robert Bosch Corporation. "We at Bosch view diesels as the best solution to the major challenges facing the automotive industry today, such as fuel economy and emissions, without sacrificing performance."

"Bosch is a great addition to the 2003 Challenge Bibendum," said Jim Micali, chairman and president, Michelin North America, Inc. "Michelin and Bosch have worked together on a variety of innovative projects and we appreciate the range of expertise and technology that the Bosch team will bring to this year's competition."

As an associate sponsor of the 2003 Challenge Bibendum, Bosch is participating in a variety of activities, including:

  * A fleet of clean diesel vehicles - ranging from SUVs to mid-size sedans
    to compact cars - for participants to test drive and experience first
    hand the thrill of diesel;
  * Key Bosch executives who will speak at various events and participate in
    the important discussions that evolve at this event; and,
  * A Learning Center display to provide hands-on education and information
    on the advancements of diesel technology.

Bosch believes that the benefits of clean diesel are turning public opinion. On average, consumers can save nearly $600* a year on fuel costs by driving a diesel passenger car versus a comparable gasoline vehicle. In addition, diesel engines can deliver up to 50 percent more torque and 30 percent less carbon dioxide emissions than their gasoline counterparts.

About Bosch

Bosch designs and produces precision automotive components and systems sold to vehicle and powertrain manufacturers worldwide. These include systems and components for gasoline and diesel engine management systems, airbag components, brake systems, telematics, as well as small motors, electrical and electronic equipment.

Robert Bosch Corporation, the wholly owned subsidiary of Robert Bosch GmbH, is responsible for North American operations. Robert Bosch GmbH is headquartered in Stuttgart, Germany.

Challenge Bibendum(TM), considered one of the premier global events for advanced technology vehicles, was established by the Michelin Group as an objective way to bring together and test the best available technologies for environmentally positive vehicles. The annual event features vehicles from major manufacturers on three continents and brings together all partners in the automotive world: vehicle manufacturers, designers, energy suppliers, technical leaders, policy makers, universities and government organizations.

The 2003 Challenge Bibendum will be held in Sonoma and San Francisco, Calif., Sept. 23-25. More than 70 passenger and commercial vehicles are expected to participate.

A true competition, Challenge Bibendum is one of the few events to compare different advanced technologies head-to-head. The event is open to all energy sources from electric cars to hybrid fuel cells to hydrogen powered buses. Advanced technology vehicles are rated on emissions, acceleration, braking, handling, noise and energy efficiency during the annual competition.

Complete information is available at www.challengebibendum.com.

Michelin manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and the space shuttle. The company also publishes travel guides, maps and atlases covering Europe, Asia, Africa and North America. Headquartered in Greenville, S.C., Michelin North America (www.michelin.com) employs 24,640 and operates 22 plants in 18 locations.

* $600 savings is based on driving 15,000 per year in a Jeep Grand Cherokee. The calculation assumes 1,000 gallons of gasoline at $1.40 per gallon and 625 gallons of diesel fuel at $1.30 per gallon.