AKRON, Ohio, August 30, 2010 – The Goodyear Tire & Rubber Company has called all of its outstanding senior notes due in 2011 and 2015 for redemption on September 29, 2010. Goodyear intends to use net proceeds from its recent $1 billion issuance of 8.25% senior notes due 2020 to fund these redemptions.

The notes called for redemption are $388 million in principal amount of 7.857% senior notes due August 15, 2011, $325 million in principal amount of 8.625% senior notes due December 1, 2011, and $260 million in principal amount of 9% senior notes due July 1, 2015.

The contractual redemption price for the 7.857% notes is the sum of the present values of the remaining scheduled payments on the notes, discounted to the redemption date using a defined treasury rate plus 35 basis points (0.35%), and will be determined as of the third business day prior to the redemption date. The contractual redemption price for the 8.625% notes is 104.313 percent of the principal amount and for the 9% notes is 104.500 percent of the principal amount. In each case, accrued and unpaid interest will be paid to the redemption date.

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

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to realize anticipated savings and operational benefits from our cost reduction initiatives or to implement successfully other strategic initiatives; increases in the prices paid for raw materials and energy; actions and initiatives taken by both current and potential competitors; deteriorating economic conditions or an inability to access capital markets; pension plan funding obligations; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; a labor strike, work stoppage or other similar event; our failure to comply with a material covenant in our debt obligations; the adequacy of our capital expenditures; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.