Ford Motor Credit Company Names K.R. Kent Vice Chairman and Chief Financial Officer

DEARBORN, Mich., Feb. 1, 2006 -- Ford Motor Credit Company today announced that K.R. Kent, currently assistant treasurer of Ford Motor Company, has been named Ford Motor Credit's vice chairman and chief financial officer, effective March 1.

Kent is replacing David P. Cosper, who is leaving the company March 1 to become executive vice president, chief financial officer and treasurer at Sonic Automotive, Inc., one of the largest automotive retailers in the United States.

Kent will be responsible for the financial planning, analysis and accounting operations of Ford Motor Credit. He will work closely with Treasury on all funding and liquidity initiatives, and will maintain relationships with financial analysts and rating agencies. He also will oversee the coordination of internal Ford Motor Credit audits. Audit will continue to report to the general auditor of Ford Motor Company.

"K.R. is well regarded by finance professionals inside and outside Ford," said Ford Motor Credit Chairman and CEO Mike Bannister. "His leadership skills and strategic insight in the financial arena will make him a strong asset to Ford Motor Credit."

Kent joined Ford in 1987 and served in a variety of positions in finance, including assignments with Mazda and as controller for product development in Europe and product creation in North America. He has served as assistant treasurer since January 2005.

Kent holds a bachelor's degree in business analysis from Indiana University and a master's degree in business administration from Ohio State University.

Cosper joined Ford in 1979 and served in a series of finance positions, including Assistant Treasurer. He was named CFO of Ford Motor Credit in 2003, and vice chairman in 2004.

"This is a great opportunity for Dave and we wish him every success," said Bannister. "Dave is highly respected by the financial community and has been an outstanding member of the Ford and Ford Motor Credit family. We will miss his keen business insights."

Ford Motor Credit Company is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. With about 16,000 employees, Ford Motor Credit operates in 37 countries and manages approximately $150 billion in receivables. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. It provides automotive financing for Ford, Lincoln, Mercury, Aston Martin, Jaguar, Land Rover, Mazda and Volvo dealers and customers. More information can be found at http://www.fordcredit.com/ and at Ford Motor Credit's investor center, http://www.fordcredit.com/investorcenter /.