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Bridgestone/Firestone CEO Provides Update On Investigation

23 August 2000

Bridgestone/Firestone CEO Provides Update On Investigation

    NASHVILLE, Tenn., Aug. 23 In an advertisement published
today in newspapers around the country, Bridgestone/Firestone, Inc. CEO
Masatoshi Ono provided an update on the company's investigation into the cause
or causes of the reported incidents with the recalled tires.
    "We are working around the clock, utilizing all of our resources to
determine the cause of these failures," Ono said.  "It may take time to
scientifically determine the cause of the problem.  Tires are highly complex
engineered products.  A typical tire can have more than 26 components,
14 different rubber compounds, and require 29 separate steps to manufacture.
In addition, there are many other forces that affect tire performance such as
weather, temperature, vehicle loads, driving styles, vehicle dynamics,
inflation pressure and road conditions."
    In addition to assuring customers that the company's "highest priority is
to complete the recall process as quickly as possible," Ono explained the
steps being taken to accelerate the recall.  The company has:

    * Increased worldwide production of replacement tires.

    * Begun air freighting replacement tires made at Bridgestone
      Corporation manufacturing plants in Japan.  The first shipment of
      new replacement tires left earlier today on a Thai Airways flight
      from Japan and at least 10 more flights are planned before
      Monday.  These shipments will continue nearly every day as long
      as needed to assist consumers involved with the recall.

    * Asked other tire manufacturers to increase their supplies of
      replacement tires.

    * Extended the reimbursement policy for tires involved in the
      recall.  Consumers who choose to purchase competitors' tires from
      any other tire retailer (other than Firestone Tire and Service
      Centers and authorized Bridgestone/Firestone dealers) can be
      reimbursed for up to $100 per tire, including mounting and
      balancing charges and taxes.  Customers can continue to have
      their tires exchanged at Firestone Tire and Service Centers,
      participating Bridgestone/Firestone retailers or at participating
      Ford dealers at no charge (and without upfront payment).

    On August 9, Bridgestone/Firestone issued a voluntary safety recall of all
Firestone P235/75R15 Radial ATX and Radial ATX II tires made in North America,
and P235/75R15 Wilderness AT tires made at the Decatur, Ill., plant.