Asia PR News

FINDLAY, Ohio, Oct. 27 /PRNewswire-AsiaNet/ –

Cooper Tire & Rubber Company (NYSE: CTB) today announced that an agreement
has been reached for Cooper Tire to obtain 51% ownership in Cooper Chengshan
(Shandong) Passenger Tire Co. Ltd. and Cooper Chengshan (Shandong) Truck Tire
Company, Ltd. This agreement also includes a 25% ownership position for Cooper
in the steel cord factory which is located adjacent to the tire manufacturing
facility in Rongchen City. Cooper’s cash investment will be about $70 million.

( Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO )

The two new companies, which will be formed upon governmental approval of
the transaction, together were known as Shandong Chengshan Tire Company, Ltd.
(Chengshan) of Rongchen City, Shandong, China. Chengshan is the 3rd largest
Chinese-owned tire manufacturer with expected replacement, OE and export sales
in 2005 of approximately $500 million. The company makes passenger car and
light truck radials as well as radial and bias commercial tires primarily under
the brand names Chengshan and Austone.

"This is another major step in our Asian strategy," said Thomas A. Dattilo,
Cooper’s chairman, president and chief executive officer. "Chengshan is an
excellent and profitable Chinese manufacturer that is already selling a
significant number of tires around the world, and especially in China where
Cooper has plans to have a leading market share position in the future," he
concluded.

The agreement is subject to a number of government and regulatory approvals
in China, but is expected to be finalized by year end.

Company Description
Cooper Tire & Rubber Company is a global company that specializes in the
design, manufacture and sales of passenger car, light truck, medium truck tires
and subsidiaries that specialize in motorcycle and racing tires, as well as
tread rubber and related equipment for the retread industry. With headquarters
in Findlay, Ohio, Cooper Tire has 39 manufacturing, sales, distribution,
technical and design facilities within its family of companies located around
the world. For more information, visit Cooper Tire’s web site at:
www.coopertireandrubber.com

SOURCE: Cooper Tire & Rubber Company

CONTACT: Patricia J. Brown of Cooper Tire & Rubber Company,
+1-419-424-4370

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO

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Web site: http://www.coopertireandrubber.com

(CTB)