Milberg Weiss Files Class Action Suit Against the Goodyear Tire & Rubber Company

SAN DIEGO--Oct. 2, 20033, 2003--Milberg Weiss (http://www.milberg.com/cases/goodyear/) today announced that a class action has been commenced in the United States District Court for the Northern District of Ohio on behalf of purchasers of The Goodyear Tire & Rubber Company ("Goodyear") publicly traded securities during the period between October 23, 1998 and October 22, 2003 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Milberg Weiss at 800/449-4900 or via e-mail at wsl@milberg.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.milberg.com/cases/goodyear/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Goodyear and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Goodyear is an Ohio corporation headquartered in Akron, Ohio, which manufactures tires and rubber products. The complaint alleges that while Goodyear's securities were trading at inflated levels, the Company issued $1.5 billion in public debt in offerings between 1997 and 2002.

Ultimately, on October 22, 2003, Goodyear announced that its 1998-2002 results would be restated to eliminate revenue that had been improperly recorded as revenues. Goodyear said it detected the errors while reviewing "various accounts, including ERP-impacted balance-sheet accounts." ERP is the computerized accounting system adopted by the Company in 1999. The Company said those accounts were principally in its North American tire and Engineered Products businesses. The decision to restate the earlier period results was made by Goodyear's management with the approval of the audit committee of the Company's Board and its independent auditors, PricewaterhouseCoopers LLP.

Plaintiff seeks to recover damages on behalf of all purchasers of Goodyear publicly traded securities during the Class Period (the "Class"). The plaintiff is represented by Milberg Weiss Bershad Hynes & Lerach LLP, who has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Milberg Weiss Bershad Hynes & Lerach LLP, a 190-lawyer firm with offices in New York, San Diego, San Francisco, Los Angeles, Boca Raton, Seattle and Philadelphia, is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of World War II and other human rights violations, and has been responsible for more than $30 billion in aggregate recoveries. The Milberg Weiss website (http://www.milberg.com) has more information about the firm.