Ford Establishing Holding Company for Mazda; No Changes in Relationship

DEARBORN, Mich., April 26 Ford Motor Company announced today that it will establish a holding company to own its 33.4 percent stake in Mazda Motor Corporation. The holding company, Ford Automotive International Holding, will be established by the end of May 2002.

The holding company, owned 100 percent by Ford Motor Company, represents only a change in the ownership structure and will improve investment efficiency. There will be no effect on Ford's financial reporting or its relationship with Mazda, which began in 1979.