Cooper Buys Dean Tire of Louisville, Kentucky.

FINDLAY, Ohio--(BUSINESS WIRE)--Oct. 19, 1998--Cooper Tire & Rubber Company (NYSE:CTB), today announced the purchase of Dean Tire of Louisville, Kentucky, effective January 4, 1999. The acquisition was announced jointly by Patrick W. Rooney, Cooper's chairman, president and CEO, and David H. Dean, chairman of Dean Tire & Rubber Company. The purchase price was not disclosed.

Cooper has been the sole manufacturer of Dean brand tires since their introduction to the replacement tire market in 1966. Dean Tire, in business for 75 years, offers a full line of passenger, light truck and medium radial truck tires to independent tire dealers in more than ten countries around the world. Cooper plans to continue this full-line offering.

In announcing the purchase, Pat Rooney stated, "We have enjoyed our relationship with Dean Tire and have been a part of their growth during the past 32 years as their private brand supplier and even before when they handled Cooper branded tires. We have come to know many of the independent Dean dealers, and we're sure it will be a good fit as we continue to supply the Dean dealers with quality products and excellent service."

According to David Dean, who will retire when the acquisition takes effect, "Cooper was our first choice among potential buyers because of their reputation for dedication to the independent tire dealers. We knew our customers and long-time friends would be treated well by Cooper and continue to grow and prosper in the tire business."

In January, the Dean operation in Louisville, Kentucky will be closed and all operational activities will be transferred to Findlay, Ohio, Cooper's corporate office.

"The Dean acquisition is a part of our overall Cooper 21' growth strategy. The North American tire market is still the largest in the world today. While this unit will not increase our incremental market share initially, we believe we can successfully grow the Dean brand, not just in North America but overseas as well," Mr. Rooney said.

Cooper announced the appointment of John Fitzgerald, Dean vice president of marketing, as the sales manager of the new Dean Division. Fitzgerald, a 22-year veteran in the tire industry, will manage independent dealer sales for the Dean brand in the United States market. Robert J. Burns, Dean's president and COO, will also be retiring upon completion of the acquisition.

Cooper Tire & Rubber Company, founded in 1914, specializes in the manufacturing and marketing of rubber products for consumers. Products include automobile, truck and motorcycle tires; inner tubes; vibration control systems; automotive sealing; hose and hose assemblies.

Cooper markets its products nationally and internationally to automotive manufacturing companies, independent tire dealers, wholesale distributors, mass merchandisers and large retail chains. Facilities include 12 manufacturing locations and 14 distribution centers worldwide.

For more information on Cooper Tire & Rubber Company, visit the company's web site at www.coopertire.com.