Cooper Tire to Appeal Injunction Against Sale

FINDLAY, Ohio, Nov. 4, 2004 -- COOPER TIRE & RUBBER COMPANY today stated it will immediately appeal to the U.S. Seventh District Circuit Court of Appeals the decision Tuesday by the U.S. District Court in Indiana, to grant a preliminary injunction on the sale of four of the 47 Cooper-Standard Automotive facilities that are being sold to an entity formed by The Cypress Group.

On September 27, the United Steelworkers of America filed a complaint asserting they have the right to require a buyer to negotiate new labor agreements before a sale takes place. This action followed Cooper's announcement on September 17 that a definitive agreement had been signed to sell the automotive group.

"We believe this ruling will be reversed on appeal and both parties continue to pursue the closing of this transaction according to the original schedule," said Thomas A. Dattilo, Cooper's Chairman, President and Chief Executive Officer. "We have protected the employees of Cooper-Standard as the sale agreement requires that all existing contractual arrangements are maintained."

The court's decision affects the Cooper-Standard Automotive facilities in Auburn, Ind., El Dorado, Ark., and two facilities located in Bowling Green, Ohio.

Company Descriptions

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/ .

The Cypress Group is a New York based private equity group that manages two private equity funds with more than $3.5 billion in commitments. Cypress invests in privately negotiated transactions, targeting operating businesses and investing with management to foster continued growth. Investments made by Cypress include Cinemark, Inc.; AMTROL, Inc.; Williams Scotsman, Inc.; WESCO International, Inc.; ClubCorp, Inc.; Danka Business Systems PLC; MedPointe Inc.; Montpelier Re Holdings, Ltd.; Republic National Cabinet Corp.; Catlin Group Ltd.; The Meow Mix Company; Financial Guaranty Insurance Company (FGIC); and Communications & Power Industries, Inc. The Cypress website address is: http://www.cypressgp.com/ .