Ford Motor Company Capital Trust I To Redeem 9% Trust Originated Preferred Securities

DEARBORN, Mich., Nov. 20, 2003 -- Ford Motor Company today announced that on January 2, 2004, it intends to redeem all of its outstanding 9% Junior Subordinated Debentures due 2025. This redemption will result in the simultaneous mandatory redemption by Ford Motor Company Capital Trust I of its outstanding 9% Trust Originated Preferred Securities(SM) (liquidation amount $25 per Preferred Security) ("Trust Preferred Securities") .

The redemption price will be $25.00 per Trust Preferred Security plus accrued and unpaid distributions to the redemption date.

On December 21, 1995, Ford Motor Company Capital Trust I issued 25,273,537 Trust Preferred Securities, having an aggregate liquidation preference of $631,838,425, all of which remain outstanding.

EquiServe Trust Company, N.A. is the transfer agent for the Trust Preferred Securities and will act as the redemption agent for this transaction. EquiServe's address is 150 Royall Street, Canton, MA 02021.

Holders of Trust Preferred Securities with questions regarding the details of the redemption may call EquiServe at 1-800-251-4215.

NOTE TO EDITORS: Go to http://media.ford.com for news releases and high-resolution photographs.