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Ford Offers to Purchase Series B Preferred Stock

22 January 1998

Ford Offers to Purchase Series B Preferred Stock

    DEARBORN, Mich., Jan. 22 -- Ford Motor Company
today announced that it will offer to purchase all depositary shares
representing its Series B Cumulative Preferred Stock.  The offering price will
be $31.40 per depositary share.
    The offer remains in effect until Feb. 26, 1998.  The regular quarterly
cash dividend of 51.5625 cents for the first quarter that is payable on
March 2 to holders of record on January 30 will be paid on the depositary
shares that are purchased.
    The offer gives shareholders the opportunity to sell their depositary
shares at a premium to the market price that prevailed before today's
announcement.  The offer also is attractive economically for Ford, given the
company's present financial position and the present market price of the
depositary shares.
    Ford issued 45.6 million Series B depositary shares in 1992.  The shares
are not convertible into Ford common stock.  At present, 20.3 million
despositary shares remain outstanding.
    On January 21, the Series B depositary shares closed at $29.6875 a share
on the New York Stock Exchange.
    Holders of the Series B depositary shares may call Georgeson & Company,
Inc. at 800-223-2064 or Merrill Lynch & Co. at 888-654-8637 for further
details about the offer.

SOURCE  Ford Motor Company