Cooper Tire and Kenda Rubber Announce China Joint Venture Plans

FINDLAY, Ohio, Dec. 17, 2003 -- Cooper Tire & Rubber Company announced today that it has reached an agreement with Kenda Rubber Industrial Co., Ltd. to build a plant to produce radial passenger and light truck tires. The plant will be located in the Jiangsu Province of the People's Republic of China outside Shanghai and will be owned jointly by Cooper Tire and Kenda Rubber. It is anticipated that construction will begin in mid-2004 and tires should be available in late 2005. Initial production will be for export from China for Cooper Tire.

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Commenting on this joint venture, Thomas A. Dattilo, Cooper's Chairman of the Board, CEO and President said, "This is a significant step forward in our Asian strategy that we have been discussing for the past year. That strategy is designed for both tires and automotive parts and in this instance will allow us to add capacity and lower costs in our tire business. It also gives us a base for sales in China down the road as the Chinese market increases significantly over the next decade."

Jimmy Yang, President of Kenda USA said, "This is a winning solution for both parties. The Kenda-Cooper relationship has developed over many years and we look forward to being partners in this joint venture. Kenda has provided Cooper radial tires in Europe and bias tires for North America with great success, and we are confident in this project as well. It will undoubtedly add value for Kenda and its shareholders and help Kenda's growth in the radial tire market."

Cooper Description

Cooper Tire & Rubber Company, headquartered in Findlay, Ohio, specializes in the manufacture and marketing of products for the global automotive industry. Products include automotive, motorcycle and truck tires, inner tubes, tread rubber and equipment, as well as sealing, trim, NVH control systems and fluid handling systems. Cooper has more than 20,000 employees and 52 manufacturing facilities in 13 countries. For more information, visit the Company's web site at: www.coopertireandrubber.com .

Kenda Description

Kenda Rubber Industrial Co., LTD., headquartered in Yuanlin, Taiwan, is the world's leading tire and tube manufacturer in Bicycle, Motorcycle, Agricultural, Trailer, Lawn and Garden, ATV, Golf Cart, Folk Lift, Automobile and other specialty areas. The Company also produces rubber membrane serving the water retention and commercial roofing industry under the brand of Pond King and StaFast Roofing. Kenda employs more than 7,000 people and has 5 manufacturing facilities located in Taiwan, Vietnam and China. For more information, please visit the Company's web site at: www.kendausa.com .

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