AKRON, Ohio, Sept. 23 -- The Goodyear Tire & Rubber Company announced today that it expects 1999 third quarter net income to be in the range of $100-$110 million or $0.63 to $0.69 per share diluted. Third quarter 1998 net income was $185 million, or $1.17 per share diluted.

The 1999 third quarter net income will include an after-tax gain of about $140 million associated with the creation of the European joint venture with Sumitomo Rubber Industries. Third quarter results will also reflect approximately $120 million of after-tax charges for facilities closures, discontinuation of certain operations, equipment and inventory writeoffs, and workforce reductions. Certain of these charges will impact operating income and others will constitute rationalization charges.

Excluding the above-mentioned gain and charges, Goodyear expects third quarter net income to be $80 to $90 million, or $0.50 to $0.56 per share diluted.

The company plans to announce third quarter results on Oct. 21, 1999.

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This news release contains certain forward-looking statements based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed by such statements. These risks and uncertainties include price and product competition; customer demand for the company's products; the ability to control costs and expenses; general industry and market conditions and general domestic and international economic conditions, including interest rate and currency fluctuations. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.