Goodyear Chosen by Volvo Trucks North America for Long-Term Supply

AKRON, Ohio, Nov. 20, 2003 -- The Goodyear Tire & Rubber Company announced today that it has signed a new agreement to make its commercial truck tires the standard equipment used on all Volvo trucks produced for North America over the next three years.

"We are extremely pleased to have been chosen by this quality producer of premium commercial vehicles. Volvo trucks are manufactured with pride, technology and innovation. The trucking business is built upon relationships and reputations, and there is no better reputation in heavy-duty trucks than Volvo's," said Steve McClellan, Goodyear's vice president, commercial tire systems.

Scott Kress, senior vice president - sales, for Volvo Trucks North America, Inc., said, "Our customers look to Volvo for a premium ownership experience. We are pleased to have a supplier partner like Goodyear who shares our dedication to meeting customer needs for quality, safety, reliability, fuel efficiency and overall cost of ownership."

According to McClellan, "Volvo Trucks North America plans to continue to grow its share of the competitive truck equipment business. Obviously, this holds great opportunity for Goodyear to grow along with them, and to reap the benefits of sales of our replacement tires for the thousands of trucks that will need new or retreaded tires down the road.

"After an extensive evaluation process, Volvo put its confidence in Goodyear because of our innovative production systems, technical investment, testing and development capabilities, reputation for product performance, and extensive network of commercial dealers to offer support to Volvo customers," he said.

Goodyear truck tires for Volvo vehicles are produced at Goodyear's manufacturing facilities in Danville, VA, and Topeka, KS. Goodyear will supply Volvo with the new-generation G395 LHS, as well as the complete Goodyear commercial portfolio of line-haul, regional and vocational products.

In addition to the new agreement with Volvo Trucks North America, Goodyear also has renewed its current standard agreement with Mack Trucks, Inc., a subsidiary of the Volvo Group. The Mack agreement will run concurrent with the Volvo pact; both agreements extend through October 2006.

"We view this agreement as more than a transaction to supply a customer with a product. The relationship is built upon Goodyear's ability to supply quality tires, to deliver them when and where needed, and to make sure our role in supplying an important customer adds value to their end-users," said McClellan.

Volvo Trucks North America is a member of the Volvo Group, a publicly held company headquartered in Gothenburg, Sweden. With 2002 sales of approximately $20 billion, Volvo's business areas include heavy trucks, buses, construction equipment, marine and industrial drive systems, aerospace, and financial services. In the U.S., Volvo shares are listed on NASDAQ, and are traded as ADRs (symbol: VOLVY).

Goodyear Commercial Tire Systems offers complete products and services to the trucking industry, including a full range of original equipment and replacement tires, and the industry's most extensive sales, retreading and commercial services network.

Additional information about Goodyear, the world's largest tire company, can be found at www.goodyear.com .