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Ford Motor Company Increases Investment in Turkey

30 June 1997

Ford Motor Company Increases Investment in Turkey

    ISTANBUL, Turkey, June 30 -- Ford Motor Company
will increase its investment in Otosan, Ford's Turkish automobile venture.
    Under an agreement struck between Ford and Koc Holding, Ford's longtime
business partner in Turkey, Ford will increase its stake in Otosan to 41
percent by purchasing shares from Koc companies and Koc family members.  The
transaction will equalize Koc and Ford shareholdings and management
responsibilities in Otosan.  Ford had held a 30 percent share in Otosan before
this agreement.
    Rahmi Koc, Chairman of Koc Holding, said this agreement shows that Ford
has great confidence in the future of Turkey.
    "This is a great day in the economic history of our country," Koc said.
"Koc and Ford will continue to work closely to ensure we produce high-quality
vehicles that present value for money and satisfy our customers."
    Ford Vice Chairman Wayne Booker echoed Koc's enthusiasm for the agreement.
"This is a step toward a growing Ford presence in Turkey, which we believe
continues to offer great potential," Booker said.  "Ford also is proud of its
long association with the Koc family, and we hope to build on that
relationship."
    Otosan, formed in 1959, produces the Ford Escort passenger car and the
Ford Cargo and Ford Transit commercial trucks in Turkey.  Ford also imports
into Turkey many of its popular European and North American models, such as
the Ford Mondeo and Ford Explorer.  Last week, Ford added its Ford Fiesta
small car and its all-new Ford Ka to Otosan's product lineup.
    Koc and Ford officials expect to finalize the agreement this summer,
following consideration of the new articles of incorporation by the Otosan
board and shareholders.

SOURCE  Ford Motor Company