AKRON, Ohio, Nov. 12, 1999 - The Goodyear Tire & Rubber Company said today that previously announced financial results have been revised for the periods ended Sept. 30, 1999.

Net income for the third quarter has been increased to $109.1 million (69 cents per share) from the $97.2 million (61 cents per share) reported on Oct. 21, 1999. For the first nine months of 1999, net income has been increased to $200.3 million ($1.26 per share) from $188.4 million ($1.18 per share). All per share-amounts are diluted.

This revision is a result of the company completing an audited valuation of the assets contributed to its European joint venture with Sumitomo Rubber Industries Ltd. The one-time gain in other income resulting from the transaction, previously estimated at $137.8 million ($131.8 million after tax, 83 cents per share), has been increased to $149.7 million ($143.7 million after tax, 90 cents per share).

Additionally, Goodyear said it has revised segment results for its two European-headquartered tire businesses. The change, however, did not impact consolidated results.

Goodyear is the world's largest tire and rubber company. Headquartered in Akron, Ohio, the company manufactures tires, engineered rubber products and chemicals in more than 90 facilities in 30 countries. It has marketing operations in almost every country around the world. Goodyear, with the addition of its Dunlop tire joint ventures, employs more than 105,000 people worldwide.