August 4, 2006

Today, Goodyear reported its financial results for the 2nd Quarter of 2006. Robert J. Keegan, chairman and chief executive officer; Richard J. Kramer, executive vice president and chief financial officer; and Darren R. Wells, senior vice president of business development and treasurer, hosted an investor conference call where they discussed the company’s performance for the first half of the year and the outlook for the remainder of 2006.

During the call, Mr. Keegan commented on the status of the master contract between Goodyear and the United Steelworkers:

“Our contract with the Union in North America expired on July 22nd; however, we have agreed to operate under the terms of the current agreement on a day-to-day basis.

As you are probably aware, the USW selected Michelin as the target for the current contract bargaining. Michelin and the USW have announced that they reached a tentative agreement on July 25th.

We remain confident that we can reach a fair contract with the USW that will improve the cost competitiveness of our North American manufacturing base and reach an agreement that helps us win with our customers.”

Mr. Keegan also provided an update on Goodyear’s earlier announcement that it was exploring the sale of its Engineered Products business:

“We began marketing the business in the second quarter, as we said we would on the last investor call. We are still in the early stages of the process. Given the size and complexity of the business, we expect the sale process to take considerable time. In the meantime, the Engineered Products business is performing very well.”