Goodyear Wins Global Supply Contracts with Volvo Group

AKRON, Ohio, Dec. 16, 2003 -- The Goodyear Tire & Rubber Company announced today that it has reached global supply agreements to become a major tire supplier to the Volvo Group in Europe and Brazil. Last month, Goodyear was named standard equipment tire supplier for the Volvo Group's Volvo and Mack truck operations in North America.

Goodyear, with the three-year contracts, will now be a key supplier to the Volvo Group's three major truck brands -- Mack, Renault and Volvo -- on three continents. Volvo, headquartered in Gothenburg, Sweden, is the world's second largest truck manufacturer.

"Reaching this global agreement with a world-class customer such as Volvo is a major accomplishment and a testament to Goodyear's product quality, technology and customer service -- not only on one continent, but on three," said Robert J. Keegan, Goodyear's chairman and chief executive officer. "Our commercial tire businesses around the world are poised for growth in 2004 and will play a significant role in improving our company performance."

According to Henry Johnson, managing director of Goodyear's truck tire business in Europe, Volvo chose Goodyear following an intensive year-long review of the company's product range and performance, advanced technology, and its service and delivery capability, in all three regions.

"We are extremely pleased that this maker of premium commercial vehicles has chosen Goodyear," said Johnson. "In Europe, Goodyear will become a major supplier for Volvo Group vehicles while in North America we will not only continue our long relationship with Mack trucks but we will also become the standard equipment supplier to Volvo. In Brazil, Goodyear will become the standard tire for the VM range of vehicles."

Goodyear tires for the Volvo vehicles are produced at Goodyear plants in Danville, Va.; Topeka, Kan.; Colmar Berg, Luxembourg; Wittlich, Germany; Kranj, Slovenia; and Sao Paulo, Brazil. Goodyear will supply Volvo with products such as the Marathon LHS, the G397 and the new generation G395 LHS.