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Goodyear Announces Third Quarter Outlook

24 September 1999

Goodyear Announces Third Quarter Outlook

    AKRON, Ohio, Sept. 23 -- The Goodyear Tire & Rubber Company
announced today that it expects 1999 third quarter net income to be in the
range of $100-$110 million or $0.63 to $0.69 per share diluted.  Third quarter
1998 net income was $185 million, or $1.17 per share diluted.
    The 1999 third quarter net income will include an after tax gain of about
$140 million associated with the creation of the European joint venture with
Sumitomo Rubber Industries.  Third quarter results will also reflect
approximately $120 million of after-tax charges for facilities closures,
discontinuation of certain operations, equipment and inventory writeoffs, and
workforce reductions.  Certain of these charges will impact operating income
and others will constitute rationalization charges.
    Excluding the above-mentioned gain and charges, Goodyear expects third
quarter net income to be $80 to $90 million, or $0.50 to $0.56 per share
diluted.
    The company plans to announce third quarter results on Oct. 21, 1999.
    This news release contains certain forward-looking statements based on
current expectations and assumptions that are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed by such statements.  These risks and uncertainties include price and
product competition; customer demand for the company's products; the ability
to control costs and expenses; general industry and market conditions and
general domestic and international economic conditions, including interest
rate and currency fluctuations.  The company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.