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Goodyear Announces Pricing of Common Stock Offering


The Goodyear Tire & Rubber Company today announced that its public offering of 22,727,272 shares of its common stock was priced at $33.00 per share. In addition, Goodyear has granted the underwriters a 30-day option to purchase up to an additional 3,409,091 shares of its common stock to cover any over-allotments. The offering is expected to close on May 22, 2007.

Net proceeds from this offering, after deducting underwriting discounts and commissions, are expected to be approximately $725 million, or $834 million if the underwriters exercise their over-allotment option in full.

Goodyear intends to use the net proceeds from the offering to redeem approximately $175 million in principal amount of its outstanding 8.625% senior notes due in 2011 and approximately $140 million in principal amount of its outstanding 9.00% senior notes due in 2015. The company expects to use the remaining net proceeds of the offering for general corporate purposes, which may include, among other things, investments in growth initiatives within the company’s core tire businesses and the repayment of additional debt.

Deutsche Bank Securities, Citi and Goldman, Sachs & Co. served as joint book-running managers of the offering.

A shelf registration statement was filed with the U.S. Securities and Exchange Commission and became automatically effective upon filing on May 9, 2007. The offering of the common stock may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained from Deutsche Bank Securities Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, telephone: 800-503-4611, email:; from Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone: 718-765-6732; from Goldman, Sachs & Co., Prospectus Department, 85 Broad St., New York, NY 10004, telephone: 212-902-1171, fax: 212-902-9316, email:; or from Goodyear’s Investor Relations Department, 1144 E. Market St., Akron, OH 44316, telephone: 330-796-3751.


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