Ford Signs Renewal Contract with CB Richard Ellis Global Corporate Services

    NEW YORK--July 1, 2003--Ford Land, the real estate arm of Ford Motor Company , has renewed its three year contract with CB Richard Ellis Global Corporate Services as its Real Estate Transaction Partner for North America. The announcement came from Steve Swerdlow, President, CB Richard Ellis Global Corporate Services.
    CB Richard Ellis' Global Corporate Services will be responsible for transaction management services, portfolio management services and appraisals/valuation services for Ford's real estate portfolio in North America on behalf of Ford Land. The portfolio consists of 132 million square feet of office, manufacturing and retail space.
    "Ford Land has been an integral partner with us for the past 3 years and we are pleased that CB Richard Ellis will continue to provide real estate services to Ford," said Val Adams, Account Executive, CB Richard Ellis Global Corporate Services. "We look forward to continuing our partnership with them to enhance their strong presence in North America and to providing them with expertise in real estate which they can use to continue the company's growth as a national leader in the automotive industry."
    In partnership with Ford Land, a team of 20 CB Richard Ellis professionals located on-site provides a dedicated seamless service delivery process that encompasses multiple integrated services over a broad geographic platform. This alliance represents the optimum example of a partnership and team effort in delivering high quality, consistent services in a managed process driven environment.
    "Partnerships have always been important to Ford Land and Ford Motor Company and provide us with the opportunity to offer our customers the most diverse products and services available in today's market," said Steve Toth, Real Estate Director for Ford Land. "We are pleased with CB's proven track record with us and the team's depth and breadth of real estate coverage across North America. "
    Headquartered in Los Angeles, CB Richard Ellis is the largest commercial real estate services company in the world. With nearly 10,000 employees, the company serves real estate owners, investors and occupiers throughout more than 250 offices in 47 countries. The company's core services portfolio includes property sales, leasing and management, corporate services, facilities and project management, mortgage banking, investment management, capital markets, appraisal and valuation, research, and consulting. The Company reported net revenues of $1.17 billion in 2001. For more information about CB Richard Ellis, visit the company's web site at www.cbre.com.
    Ford Land is a wholly owned subsidiary of Ford Motor Company and the provider of worldwide real estate, construction and facility management services to Ford and other clients. Ford Motor Company, headquartered in Dearborn, Michigan, is the world's second largest automaker, with approximately 335,000 employees in 200 markets on six continents. Its automotive brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford Credit, Quality Care and Hertz. Ford Motor Company observed its 100th anniversary on June 16, 2003.