Michelin Presents Its 1st Quarter Financial Report for 2010

Report Summary:
• Significant rebound in every tire market, except the original equipment truck segment in Europe, off of favorable prior-year comparatives.

• Volume up 15.3% for the quarter, gaining momentum late in the period as market share held firm.

• A negative 2.1% price-mix effect, reflecting i) faster growth in original equipment than replacement sales and ii) the application of contractual price adjustments indexed to raw materials costs, particularly in the specialty tire business.

Q1 Highlights:

1. European roll-out of the global advertising campaign, which reflects the MICHELIN brand’s new global communication strategy

2. Launch of the MICHELIN Pilot Sport 3, a new sports car tire that delivers unrivalled grip

3. Launch of Michelin North America’s latest-generation MICHELIN X ONE XDA EnergyTM wide-single drive tire

4. MICHELIN Power Pure: the lightest two-compound sport premium tire ever designed

5. Shanghai Michelin Warrior Tire Co. now a wholly-owned subsidiary, following Michelin’s acquisition of an additional 30% stake

6. Cooperation agreement signed with Taqui Pneu in France and equity stake acquired in the company

7. Dealer network expanded in India

8. Launch of ViaMichelin Travel, a new travel planning solution combining the ViaMichelin website and the new generation Green Guide collection

To view the official press release, please log on to www.michelin.com/corporate