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Executive Changes at Ford Credit

19 May 1997

Executive Changes at Ford Credit

    DEARBORN, Mich., May 19 -- Ford Credit today announced
several executive appointments that will strengthen the company's ability to
respond to changing market conditions.
    Effective June 1, Jack Clissold is assigned the newly created position of
executive vice president - Diversified and Corporate Operations.  In this new
position, he oversees operations responsible for Ford Credit's growth beyond
its traditional mission of providing standard vehicle financing to Ford
dealers and their customers.  That includes PRIMUS, a rapidly growing
subsidiary focusing on financing vehicles other than Ford with an annual
average receivables growth rate of 84 percent during the past six years.
Fairlane Credit LLC, Ford Credit's new non-prime finance unit, also will
report to Clissold, as will Product and Process Development, and Corporate
Quality, Education and Training.
    Greg Smith replaces Clissold as executive vice president - North American
Financing Operations.  In his new assignment, Smith oversees financing
operations for Ford dealers and customers throughout North America, as well as
Commercial Lending and Insurance Services.
    David Flanigan replaces Smith as executive vice president - International
Financing Operations, assuming responsibilities for Ford Credit operations in
Europe, Latin America, Asia-Pacific and Hertz International Leasing.
    Michael Bannister replaces Flanigan as chairman - Ford Credit Europe,
which has operations in 17 European countries and South Africa.  In addition,
new financing operations in Hungary and the Czech Republic are scheduled to
open this summer.  Bannister had served as executive director - Ford Credit
European Sales Operations and Worldwide Trade Financing.
    A wholly owned subsidiary of Ford Motor Company , Ford Credit
offers automotive financial services in 33 countries to more than eight
million customers through 11,400 dealers.  Assets of more than $126 billion in
its worldwide managed operations make Ford Credit the world's largest company
dedicated to automotive finance.

SOURCE  Ford Credit