Bridgestone/Firestone Announces Headquarters Consolidation NASHVILLE, Tenn. (July 3, 2002) - Bridgestone/Firestone Americas Holding Inc. (BFAH) today announced that it has entered into letters of intent to lease approximately 210,000 square feet of space in the building known as Highland Ridge Tower and located at 535 Marriott Drive, Nashville, Tenn. BFAH intends to sublease approximately 135,000 square feet of space from the Tennessee Valley Authority (TVA), currently the major tenant in the building, and lease approximately 75,000 of vacant space from the building’s landlord, Gaedeke Holdings Ltd., of Dallas, Texas. The letters of intent indicate the parties’ willingness to enter into negotiations toward definitive sublease and lease documents. Specific terms of the letters of intent were not released. Bridgestone/Firestone, headquartered in Nashville since 1992, has approximately 800 employees housed in four separate locations in the “Airport Corridor” section of the city. The company has long expressed a desire to consolidate its headquarters buildings into one space to increase ease of communication and facilitate a sense of teamwork among its Nashville-based associates. Prior to identifying the Highland Ridge Tower as its first choice, the company conducted a thorough review of its options, including consideration of sites both inside and outside of Nashville and Tennessee. “The Highland Ridge Tower satisfies the prime objectives established by Bridgestone/Firestone at the beginning of our search for a new headquarters building,” said John Lampe, Chairman, CEO and President of BFAH. “It allows us to remain in Tennessee, a state that has been very good to us and that has been a major factor in our past growth. It allows us to remain in Nashville, in one building, with a financial package that addresses our need to control costs while at the same time achieving the team building atmosphere that will be so important to our continuing growth.” The parties expect to finalize the transactions by mid-summer. Bridgestone/Firestone expects to complete the move to its new headquarters by January, 2003. “I want to thank Governor Don Sundquist and Commissioner Tony Grande, Tennessee Department of Economic and Community Development, for all of their assistance in the negotiations that have led us to this decision,” Lampe said. “Governor Sundquist, Commissioner Grande, and TVA Director Bill Baxter, have been instrumental in helping us find a way to stay in Nashville.” Nashville-based Bridgestone/Firestone Americas Holding, Inc. is a subsidiary of Bridgestone Corporation, the world’s largest tire and rubber company. Bridgestone/Firestone, through its subsidiaries, develops, manufactures and markets Bridgestone, Firestone, Dayton, and associate and private brand tires. The companies also produce Firestone air springs, roofing materials, synthetic rubber, and industrial fibers and textiles and operate the world’s largest chain of retail tire and automotive service centers.