AKRON, Ohio —The Goodyear Tire & Rubber Company (NYSE: GT) today announced that it has commenced a public offering of $750 million aggregate principal amount of 10-year senior notes, subject to market and other customary conditions.  The notes will be senior unsecured obligations of the company.

Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents and unused availability under its credit facilities, to redeem $325 million in principal amount of 8.625 percent senior notes due 2011 and approximately $388 million in principal amount of 7.857 percent notes due 2011. Goodyear intends to use any remaining net proceeds for general corporate purposes, which may include the repayment of other outstanding indebtedness.

Deutsche Bank Securities Inc., Barclays Capital Inc. and Morgan Stanley & Co. Incorporated will be joint book-running managers for the offering.

The offering will be made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Copies of the prospectus and the prospectus supplement relating to the offering may be obtained from:

Deutsche Bank Securities Inc.
c/o ADP Prospectus Services
1155 Long Island Ave.
Edgewood, NY 11747
telephone: 800-503-4611
email: prospectus.cpdg@db.com

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
telephone: 888-603-5847
email: barclaysprospectus@broadridge.com
    
Morgan Stanley & Co. Incorporated
Prospectus Department
180 Varick St.
New York, NY 10014
telephone: 866-718-1649
email: prospectus@morganstanley.com  

The Goodyear Tire & Rubber Company
Investor Relations Department
1144 E. Market St.
Akron, OH 44316
telephone: 330-796-3751

Goodyear is one of the world's largest tire companies. It employs approximately 70,000 people and manufactures its products in 57 facilities in 23 countries around the world.