AKRON, Ohio — Goodyear Tire & Rubber Co. is implementing rationalization programs to reduce costs in operations at its Engineered Products and Chemical businesses.

The company will record a charge of between $23.5 million and $27.5 million for programs in its Engineered Products business and plans to reduce about 240 positions by the end of the third quarter of 2005. Goodyear said it company expects to make future cash expenditures of between $4.5 million and $6.5 million in connection with this action. Additionally, Goodyear plans to reverse between $4 million and $8 million of reserves related to previous Engineered Products programs.

Goodyear expects to record a charge of between $5.5 million and $6 million and reduce about 100 positions in the Chemical business by the end of this year. The company expects to make future cash expenditures of between $2 million and $2.5 million in connection with this action.

The company will record rationalization charges in the third quarter of 2004 in connection with these actions.

For more information about Goodyear, go to: http://www.goodyear.com.

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