FORD MOTOR COMPANY ANNOUNCES TWO EXECUTIVE APPOINTMENTS

DEARBORN, Mich., Sept. 12 - Ford Motor Company's Board of Directors today elected Greg Smith as a group vice president and named him chairman, president and chief executive officer of Ford Motor Credit Company.

Previously, Smith, 51, was a company vice president and president and chief operating officer, Ford Credit.

"A dynamic and vital Ford Credit is essential to the company's long-term prosperity," said Bill Ford, chairman and CEO, Ford Motor Company. "Greg Smith and his team have transformed Ford Credit into a cornerstone of our revitalization plan."

The board also elected John Fleming a company vice president. Fleming, 51, is vice president, Manufacturing, Ford of Europe, a position he has held since April 2001.

"Flexible and efficient manufacturing has been key to Ford of Europe's turnaround," said Mr. Ford. "John Fleming and his team have played a big role in that effort."

Smith joined Ford in 1973 as an engineer with Truck Operations. He has held a number of positions in engineering, product planning, marketing and strategic planning before joining Ford Financial Service Group in 1993. He became president and chief operating officer of Ford Financial in August 2001.

Smith has a bachelor of science degree in mechanical engineering from Rose-Hulman Institute of technology and a master's degree in business administration from Eastern Michigan University.

Fleming joined Ford in 1967 at the company's Halewood plant in England. He has held management positions in manufacturing in the United States and Europe including executive director of Ford Stamping. He is also a board member of Ford Werke AG.

Fleming holds an honorary degree from the John Moores University in Liverpool and production engineering qualifications from North East London Polytechnic.