USW and Yokohama Tire Corporation Finalize Labor Agreement at Salem Plant

Contact: Bill Groak, PCGCampbell, 310/224-4940 bgroak@pcgcampbell.com

FULLERTON, Calif. (May 2, 2007) - Yokohama Tire Corporation announced today that a new labor agreement covering employees at Yokohama's Salem Virginia plant has been ratified by the United Steelworkers Local 1023 membership.

According to Steve Kessing, vice president of administration, the new 37-month agreement is similar to accords reached earlier by other major tire manufacturers. "The agreement helps the Salem plant control costs in the very competitive U.S. and global tire market," Kessing said. "Manufacturing costs will be reduced through the implementation of a two-tier wage structure, health care contributions and benefit reductions for newly hired workers. The job security provisions allow employees to focus on production and quality issues with the assurance that the facility will remain operational during the term of the agreement, which expires in May 2010."

The Salem facility has approximately 900 employees and was recently ISO 14001-certified, which helps a company reduce its impact on the environment's air, water and land. All of Yokohama's Japanese plants have been ISO 14001 accredited since 1999 and the company's plants worldwide are certified or in the process of becoming certified.

Yokohama Tire Corporation is the North American manufacturing and marketing arm of Tokyo, Japan-based Yokohama Rubber Co., Ltd., a global producer and distributor of premium tires for more than 90 years. Servicing a network of more than 4,500 points of sale in the U.S., Yokohama Tire Corporation offers a complete line of tires including high-performance, light truck, passenger car, commercial truck and bus, as well as off-the-road mining and construction applications. For more information on Yokohama's extensive product line, visit www.yokohamatire.com.

Yokohama is a strong supporter of the tire care and safety guidelines established by the Rubber Manufacturers Association (RMA) and the National Highway Transportation and Safety Administration (NHTSA). Details can be found at the "Taking Care of Your Tires" section at www.yokohamatire.com.