Cooper Tire to Begin Race Tire Production in the U.S.

FINDLAY, Ohio, July 26 -- COOPER TIRE & RUBBER COMPANY today announced intentions to begin production of racing tires at its Athens, Georgia, manufacturing facility, which currently produces retread materials. This decision will result in an investment of $11 million during the next two years. Conversion to motorsports tires should begin immediately with developmental tire production beginning in early 2005.

Initial production will include the Avon Tech R, a DOT street-legal radial manufactured by Cooper exclusively for The Tire Rack, and the Mickey Thompson DOT ET street radial sold through the Mickey Thompson operation. The plant will be configured to manufacture other racing products as needed to support the company's overall motorsports strategy.

"The demand for our motorsport tires in the U.S. has outpaced our ability to produce them at our U.K. factory," said Carl Casalbore, vice president of marketing and retail sales. "This is a great opportunity to bring motorsport production to the United States and to introduce an exciting new product to our Athens facility. We are confident that our customers will be pleased at our increased supply and improved responsiveness."

To support the conversion, nearly 30 jobs will be added at the facility including engineering, technical and compounding specialists as well as manufacturing positions.

"Cooper's racing heritage now spans two continents," said Casalbore. "Athens will be supported with assistance from our technical centers in Findlay, Ohio, and Melksham, U.K., and the tire and vehicle test center in Pearsall, Texas. Racing tire expertise also will be provided by Cooper-Avon's European racing team and Mickey Thompson's staff based in the U.S. We are enthusiastic about the potential this additional manufacturing capacity gives us to grow our motorsports presence."

Cooper Tire acquired the Athens facility in 1999 as a part of the Standard Products purchase which included Oliver Rubber. Recently, Cooper announced the consolidation of pre-cure retread manufacturing from Athens to the Asheboro, NC, facility in an ongoing effort to maximize use of all company assets. This will create the space needed for conversion to racing tires and other products as needed.

Company 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: http://www.coopertireandrubber.com/ .