Visteon Receives $1.5 Billion in Secured Financing Commitments

VAN BUREN TOWNSHIP, Mich., May 16, 2006 -- Visteon Corporation has received financing commitments from JPMorgan Chase Bank, N.A. and Citigroup Global Markets Inc. to provide Visteon with $1.5 billion in secured loan facilities.

The new secured loans will include an $800 million seven-year term loan, with the remainder being divided between two five-year revolving credit facilities for the U.S. and Europe. Proceeds from the financing are expected to be used to repay amounts outstanding under the company's existing secured facilities, scheduled to mature in June 2007, and for general corporate purposes. Final terms of the loans will be based on market terms, and the financing commitments are subject to customary terms and conditions.

The new loan facilities are expected to be completed over the next several weeks. "We are following through on our plan to address, by mid-summer of this year, all credit facilities that expire in June 2007," said James F. Palmer, Visteon executive vice president and chief financial officer. "This is another important milestone in Visteon's three-year improvement plan."

Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has more than 170 facilities in 24 countries and employs approximately 50,000 people.