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Underwriters exercise option on 22.7 million shares of Goodyear stock

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Underwriters of Goodyear Tire & Rubber Co.'s May 16th offering of more than 22.7 million shares of common stock have exercised in full the over-allotment option granted to them by the company.

(For more information, see "Goodyear prices common stock offering," May 17, 2007.)

As a result, the company will sell an additional 3.4 million shares of its common stock at the offering price of $33 per share. The offering,

including the exercise of the over-allotment option, is expected to

close on May 22, 2007.

Including the exercise of the over-allotment option, the net proceeds

from the offering, after deducting underwriting discounts and

commissions, are expected to be approximately $834 million.

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