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Ford Credit Announces Corporate Debt Issuance Philosophy

4 June 1999

Ford Credit Announces Corporate Debt Issuance Philosophy

     DEARBORN, Mich., June 3 -- Ford Motor Credit Company intends
to sell approximately $10 billion of senior unsecured Global Landmark
Securities(TM) (GlobLS(TM)) through multi-tranche fixed and/or floating rate
offerings during 1999.  Ford Credit is planning a three-continent investor
roadshow to describe an enhanced Corporate Debt Issuance Philosophy utilizing
GlobLS as part of a continually evolving funding strategy.  Ford Credit
intends this to be its dominant unsecured U.S. dollar funding platform.
    The inaugural offering is expected to occur in the near future, subject to
market conditions.  Under the enhanced Corporate Debt Issuance Philosophy,
which will be reviewed periodically, Ford Credit intends to issue GlobLS two
to four times per year in transactions of $3 billion or greater.  Ford Motor
Company may also, from time to time, participate with Ford Credit in this
program.  Ford Credit will continue to access other funding sources, such as
MTN, asset securitization, and foreign currency markets.
    Bear Stearns, Merrill Lynch, and Salomon Smith Barney have acted as
advisors in developing this enhanced philosophy and have been selected as
joint bookrunning managers for the initial transaction.  Bear Stearns will act
as Global Coordinator for the initial transaction.
    Ford Credit is a wholly owned subsidiary of Ford Motor Company
and is the world's largest automotive finance company.  Ford Credit provides
vehicle financing in 37 countries to more than eight million customers.