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Pirelli announces price increases

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Pirelli Tire North America has announced tire price increases due to the rising cost of raw materials.

Prices for its passenger and light truck tires will go up by by 5%, effective June 1, 2005, in the U.S. and Canada.

Pirelli joins a growing list of companies that have announced price increases on their passenger and light truck tires. These include:

* Kumho Tire USA will increase the price of its passenger, light truck and commercial truck tires by up to 8% effective June 1, 2005.

* Michelin North America Inc. is increasing prices for its OE and replacement passenger and light truck tires effective July 2005. Michelin, BFGoodrich, Uniroyal, private and associate brands sold in Canada, Mexico and the United States will increase by up to 8%.

* Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc. will raise passenger and light truck tire prices up to 8% on June 1.

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