Ford Statement on Transformation Plan

DEARBORN, MI - June 12, 2009: Ford President and CEO Alan Mulally commented yesterday that, as part of Ford's transformation plan, the company remains committed to improving the balance sheet and reducing debt.

Alan Mulally - file photo

The company, however, has no current plans to issue additional equity. Mr. Mulally's comments were intended to reflect the company's ongoing and long-term transformation plan, which remains centered on:

-- Aggressively restructure to operate profitably at the current demand and changing model mix

-- Accelerate the development of new products that customers want and value

-- Finance the plan and improve the balance sheet

-- Work together effectively as one team, leveraging Ford's global assets