Goodkind Labaton Rudoff & Sucharow LLP Files Class Action Lawsuit Against the Goodyear Tire & Rubber Company

NEW YORK--Oct. 2, 20038, 2003--Goodkind Labaton Rudoff & Sucharow LLP ("Goodkind Labaton") filed a class action lawsuit on October 28, 2003 in the United States District Court for the Northern District of Ohio, on behalf of persons who purchased or otherwise acquired publicly traded securities of The Goodyear Tire & Rubber Company ("Goodyear" or the "Company") between October 23, 1998 and October 22, 2003, inclusive, (the "Class Period"). The lawsuit was filed against Goodyear, Robert W. Tieken and Robert J. Keegan (the "Defendants").

If you are a member of this class and wish to view a copy of the complaint online and join this class action, please go to http://www.glrs.com/get/?case=goodyear.

The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of false and misleading statements to the market during the class period. The complaint alleges that throughout the Class Period, Goodyear filed financial reports with the Securities and Exchange Commission, which were purported to be accurate and reflect the company's true operating results and financial condition. Unknown to investors, the financial information contained in the Company's SEC filings was artificially inflated through accounting improprieties.

Specifically, as indicated in Goodyear's press release issued on October 22, 2003, Goodyear had overstated its net income and shareholders equity by a total of approximately $100 million and $120 million respectively. As a result, the Company announced it would restate its results for the years 1998 to 2002, and for the first two fiscal quarters of 2003. The Company attributed the restatement to "the implementation of an ERP accounting system" in 1999 and "errors in inter-company billing systems." In reaction to this announcement, the price of Goodyear's common stock fell 9% on heavy trading volume.

Plaintiff is represented by the law firm of Goodkind Labaton of New York, New York and Ft. Lauderdale, Florida. Goodkind Labaton is a pioneer in the field of investor protection, with over thirty years experience litigating securities class actions in courts throughout the country. Goodkind Labaton has over 50 attorneys in two offices and maintains an in-house staff of finance and accounting specialists. Goodkind Labaton also has extensive trial experience and, most recently, concluded a class action trial resulting in a landmark $185 million verdict for the plaintiff class.

If you bought Goodyear securities between October 23, 1998 and October 22, 2003, inclusive, you may qualify to serve as Lead Plaintiff. Lead Plaintiff papers must be filed with the court no later than December 22, 2003. If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, please contact one of our representatives at investorrelations@glrslaw.com or Christopher Keller, Esq. at 800-321-0476.