Ford Responds to Fitch and Moody's Decision to Maintain Credit Ratings

DEARBORN, Mich., Nov. 14, 2003 -- The following statement is attributable to Don Leclair, Ford Motor Company group vice president and chief financial officer, as a response to today's rating decisions by Fitch and Moody's. Fitch affirmed Ford Motor Company's long-term credit rating at BBB+, and short-term rating at F-2 with a negative outlook. Moody's confirmed Ford Motor Company's credit rating at Baa1 with a negative outlook. Moody's confirmed Ford Motor Credit Company's long-term credit rating at A3, and short-term rating at P-2.

We are pleased that both Fitch and Moody's recognize Ford Motor Company's continuing progress and have decided to maintain our credit ratings. We remain fully committed to our 2003 financial milestones and business plans, and are forecasting improvement in automotive and total profitability in 2004. Further details about 2004 will be provided in January.