Cooper Reaches Agreement with USWA - Injunction on Sale of Four Plants to be Lifted

FINDLAY, Ohio, Dec. 1, 2004 -- COOPER TIRE & RUBBER COMPANY today announced that it and its subsidiary, Cooper- Standard Automotive, have reached an agreement with the United Steelworkers of America, the USWA locals in Auburn, Ind., El Dorado, Ark., and two locals in Bowling Green, Ohio, that will result in the injunction on the sale of four Cooper-Standard Automotive plants being dissolved and the appeal to the U.S. 7th Circuit Court of Appeals being dismissed.

The injunction had been granted on November 2, 2004, by the U.S. District Court in Indiana following a September 27 complaint filed by the United Steelworkers of America asserting the right to negotiate new labor agreements with a buyer before a sale of the four union facilities. On September 17, 2004, Cooper announced a definitive agreement to sell Cooper-Standard Automotive for $1.165 billion to an entity formed by The Cypress Group and Goldman Sachs Capital Partners.

"I am pleased that the talks with the Steelworkers have produced an expedited and favorable conclusion," said Thomas A. Dattilo, Cooper's chairman, president and chief executive officer.

Dattilo added, "We have continued working toward closing our transaction with the Cypress Group and Goldman Sachs Capital Partners throughout the process of negotiating with the union. This agreement certainly brings us closer to concluding the sale of Cooper-Standard Automotive, without any additional cost to Cooper Tire & Rubber Company. We continue to believe that the transaction will close before the end of the year."

  Specific details of the agreement are not being released.

  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, 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/ .