News From USWA: Steelworkers to Closely Monitor Goodyear Delayed 10-K/A Filing; Express Expectation That Financing Will Be Completed

PITTSBURGH--Dec. 1, 20030, 2003--News From USWA: The United Steelworkers of America (USWA) announced today it will closely monitor the circumstances surrounding Goodyear Tire and Rubber Company's announcement that it will be necessary to delay the filing of its 2002 Form 10-K/A with the U.S. Securities and Exchange Commission.

The company has recently identified possible improper accounting issues in Europe and is in the process of reviewing these issues and its possible impact on financial statements.

"We are hopeful that the problems in Europe are not significant," stated USWA International vice president Andrew V. Palm. "We expect that the company will quickly resolve this situation and move on to complete their financing commitments in the near future."

In a three-year agreement reached in September with the USWA, Goodyear committed to raising at least $250 million in debt and $75 million in equity-linked financing by December 31, 2003. Failure to meet this obligation gives the USWA the right to strike.

"While we will be vigilant in protecting the rights of our members and retirees, acting precipitously would be inconsistent with the commitments the Company made during the recent negotiations to revitalize Goodyear by investing in North American production," stated Palm.

The USWA represents more than 18,000 hourly employees in 20 Goodyear facilities and more than 24,000 retirees throughout the U.S. and Canada.