Goodyear Completes Notes Exchange Offers

AKRON, Ohio, Jan. 13, 2006 -- The Goodyear Tire & Rubber Company today announced that it has completed its offers to exchange up to $1.05 billion in registered Notes for previously issued unregistered Notes with similar terms and conditions.

The company said that on December 22, 2005, it completed its offer to exchange up to $450,000,000 of 11% Senior Secured Notes due in 2011 and up to $200,000,000 of Senior Secured Floating Rate Notes due in 2011, which have been registered under the Securities Act, for its outstanding unregistered 11% Senior Secured Notes due in 2011 and Senior Secured Floating Rate Notes due in 2011.

The exchange offer expired at 5 p.m. ET, on December 21, 2005. A total of $449,998,000 of the 11% Notes and $200,000,000 of the Floating Rate Notes were validly tendered and accepted for exchange by Goodyear.

According to the terms of Goodyear's Registration Rights Agreement, dated March 12, 2004, upon the closing of the exchange offer on December 22, 2005, additional interest of 2% per annum on the 11% Notes and Floating Rate Notes ceased to accrue and additional interest of 0.25% per annum began to accrue on those Notes.

On January 12, 2006, Goodyear completed its offer to exchange up to $400,000,000 of 9% Senior Notes due in 2015, which have been registered under the Securities Act, for any and all of its outstanding unregistered 9% Senior Notes due in 2015.

This exchange offer expired at 5 p.m. ET, on January 9, 2006. A total of $400,000,000 of 9% Senior Notes were validly tendered and accepted for exchange by Goodyear.

These exchange offers were performed under Registration Rights Agreements signed as part of financing transactions completed in March 2004 and June 2005 and do not represent new financing transactions.

This announcement is not an offer to exchange or a solicitation of an offer to exchange with respect to any of the unregistered Notes that remain outstanding.

Goodyear is the world's largest tire company. The company manufactures tires, engineered rubber products and chemicals in more than 90 facilities in 28 countries around the world. Goodyear employs about 75,000 people worldwide. For more information about Goodyear, visit http://www.goodyear.com/corporate.