Bridgestone/Firestone Makes Sizable Land Donation to State of Tennessee.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--April 13, 2000

In a move that will preserve thousands of acres of unspoiled wilderness area for generations to come, Bridgestone/Firestone, Inc. (BFS) announced today the donation of approximately 6,000 acres of land in White and Van Buren counties to the state of Tennessee.

The gift marks the company's second major land donation to the state, bringing the total area donated by BFS to about 10,000 acres. The combined donation, to be called the Bridgestone/Firestone Centennial Wilderness, represents one of the largest land donations in history to the state of Tennessee by a private company.

Bridgestone/Firestone, Inc. Chairman and CEO Masatoshi Ono presented Gov. Don Sundquist with the deed to the property at a news conference near the state Capitol. It includes a conservation easement, to be held by The Conservation Fund, a nationally recognized conservation organization. The conservation easement restricts development on the property to ensure that its natural beauty and environmental integrity will be preserved.

The 6,000-acre tract of land includes a sizable portion of Scott's Gulf near Sparta. When combined with the previous donation, today's gift opens approximately 15 miles of the Caney Fork River and its tributaries to public access.

The Tennessee Wildlife Resources Agency (TWRA), which manages the adjacent 4,000-acre tract donated to the state by BFS in 1998, will also manage the newly donated property. While specific land use will be determined by TWRA, the conservation easement permits public use of the property for low-impact activities such as fishing, canoeing, kayaking, hiking and hunting. Camping, cave exploration and horseback riding will be permitted with restrictions.

"This property is truly magnificent, and we felt very strongly about sharing this environmental treasure with the people of Tennessee," Ono said. "We took the property off the market several years ago because we did not feel a private buyer could ensure that the natural beauty would be preserved. The Tennessee Wildlife Resources Agency has done an excellent job managing the first gift from Bridgestone/Firestone, so we feel confident about entrusting them with the management of a second and more substantial donation."

BFS and the state of Tennessee worked with The Conservation Fund to develop a plan that ensures this property, the previously donated tract and remaining company holdings in the area will be managed in an environmentally sound manner.

"It's not every day that the state of Tennessee receives a gift of this nature, and we sincerely appreciate Bridgestone/Firestone's generosity and commitment to safeguarding the scenic beauty of our great state," Sundquist said. "The company has been a major contributor to this state's economic well-being since moving its headquarters to Nashville in 1992. The donation today reinforces Bridgestone/Firestone as a major contributor to Tennessee's environmental stability as well."

The Bridgestone/Firestone Centennial Wilderness, a part of Tennessee's Cumberland Plateau, is home to a variety of wildlife - including a number of rare and endangered species. The peregrine falcon, gray bat, barking tree frog and jewel darter are among the rare species known to live in the area. Rare wildflowers found on the property include the Cumberland Rosemarry. The property is also a known habitat to wild turkey, quail, deer, timber rattlesnake, beaver, and large- and small-mouth bass.

"We salute Bridgestone/Firestone for celebrating its century of business leadership by giving this magnificent property to the American people," said John Turner, president of The Conservation Fund. "We are proud to be their partner in creating this spectacular outdoor legacy in the heart of Tennessee. Current and future generations will be enriched by the breathtaking wildness and quiet wonders of the Caney Fork River gorge."

The Firestone Tire & Rubber Company (acquired by Bridgestone in 1988) purchased the property between 1970-72 for $1.2 million. Since then, Firestone, and later, Bridgestone/Firestone, Inc. have maintained the combination of meadows, hardwood forests, pasture land, white water, scenic bluffs, unexplored caves and mountains as private, protected land.

To commemorate today's land donation, BFS commissioned a full-color photo book entitled "Scott's Gulf: The Bridgestone/Firestone Centennial Wilderness." The book, which captures some of the colorful history of Scott's Gulf, features works from former U.S. Sen. Howard Baker, Jr., and renowned nature photographer John Netherton. It will be available in Nashville-area bookstores and at the Tennessee State Museum.

Today's gift is a part of Bridgestone/Firestone's centennial celebration. The company is celebrating 100 years of Firestone innovation that began in 1900 through the company founded by Harvey S. Firestone. Throughout the year 2000, "Firestone: A Legend. A Century. A Celebration." recognizes the Firestone entrepreneurial spirit that built the brand admired worldwide.

Bridgestone/Firestone, Inc. is a subsidiary of Bridgestone Corporation, the world's largest tire and rubber company. Bridgestone/Firestone manufactures and markets Bridgestone, Firestone, Dayton and house and private brand tires. The company also produces Firestone air springs, roofing materials, synthetic rubber and industrial products.