Financial information for the six months ended june 30, 2010

• Further growth in tire demand in every geography

• Sales volumes up 15.3% in the first half, supported by the MICHELIN brand’s global footprint

• Excellent manufacturing performance, demonstrating the improvement in competitiveness

• Solid financial structure maintained

The clear rebound in the tire markets is expected to continue in the second half of the year, even though the pace of economic recovery will vary from one region to another.

While rising raw materials costs will have a negative impact on second-half consolidated results (and reduce full-year income by €600-650 million), Michelin will benefit from the price increases introduced in the first half. In addition, the Group is announcing around a 3% increase in its passenger car and light truck replacement tire prices in Europe starting in September, thereby confirming its commitment to a responsive pricing policy.

In this environment, Michelin reaffirms its full-year 2010 target of driving 10%-plus growth in sales volumes, maintains its objective of generating positive free cash flow and, despite the expected impact of raw materials costs, intends to deliver an operating margin before non-recurring items of close to 9%.