Yokohama Tire Corporation Locating New U.S. Manufacturing Facility in West Point, Miss.

WEST POINT, Miss.‹Governor Phil Bryant and executives from Yokohama Tire
Corporation (YTC) officially announced today the company would locate a
commercial truck tire plant in West Point, Miss.

Yokohama will invest $300 million in the initial project phase, with future
expansions potentially increasing the company¹s investment to more than $1
billion. Yokohama expects to create 500 new jobs. Potential future
expansions are expected to bring total employment at the plant up to 2,000
jobs.

Expected to be operational by October 2015, the new facility will have the
capacity to produce one million tires per year.

³Yokohama has been in business for more than 90 years, making some of the
most durable tires in the market,² Gov. Bryant said. ³Now, the company is
expanding that same quality of manufacturing to Mississippi. With the
potential of creating 2,000 jobs, this project speaks not only to our
commitment to a quality workforce but an environment for growth and
expansion. I appreciate Yokohama and specifically CEO Hikomitsu Noji for
their support of Mississippi and our citizens.²

³This is an historic day for Yokohama,² said Hikomitsu Noji, YTC¹s chief
executive officer, president and representative director of the Yokohama
Rubber Co. Ltd., YTC¹s parent company in Japan. ³The building of a new plant
in the U.S. confirms our commitment to the North American marketplace. I¹d
like to thank Governor Phil Bryant and the State of Mississippi for their
fortitude in bringing this to fruition.²

Gov. Bryant called the Legislature into special session on April 26 to vote
on an incentive package in support of the project. Lawmakers approved $70
million for the initial project and total bonding capacity up to $130
million for future expansions at the facility. State assistance includes
funding for the purchase of the land where Yokohama¹s facility will be
located and for site preparation, infrastructure improvements and workforce
training.

Clay County, West Point, the Appalachian Regional Commission, the Tennessee
Valley Authority and Atmos Energy provided assistance for the project, as
well.

³We are grateful that Yokohama Tire Corporation has placed its confidence in
our strong business climate and its trust in our capable, dedicated
workforce, and I am certain those two assets will help ensure the company
thrives in West Point,² said Mississippi Development Authority Executive
Director Brent Christensen. ³I thank our partners in West Point, Clay County
and the Golden Triangle Development LINK, along with our utility partners
and colleagues at the Appalachian Regional Commission, who worked so
diligently to make this project possible. This is a great day for the state
of Mississippi.²

The West Point facility, the company¹s first U.S. facility to be built from
the ground up, will be located on a 500-acre site with construction slated
to begin in September of this year. Yokohama also has operations in Salem,
Va., where the company manufactures consumer passenger car and light truck
tires.

Additional details regarding the company¹s construction timeline and hiring
processes will be made available online at www.yokohamams.org.

Yokohama Tire Corporation is the North American manufacturing and marketing
arm of Tokyo, Japan-based The Yokohama Rubber Co. Ltd., a global
manufacturing and sales company of premium tires since 1917. Servicing a
network of more than 4,500 points of sale in the U.S., Yokohama Tire
Corporation is a leader in technology and innovation. The company¹s complete
product line includes the all-new AVID® Ascend — the first mass-market
tire using Yokohama¹s breakthrough orange oil technology ­ as well as tires
for high-performance, light truck, passenger car, commercial truck and bus,
and off-the-road mining and construction applications. For more information
on Yokohama¹s extensive product line, please visit www.yokohamatire.com
.