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Ford Purchase of APCO Nears Completion

15 July 1999

Ford Purchase of APCO Nears Completion: Tender Offer Closes With More Than 93% Acceptance

    DEARBORN, Mich., July 15 -- Ford Motor Company
announced today the expiration of the tender offer by Ford and its wholly
owned subsidiary, AM1 Acquisition Company, for all of the outstanding shares
of Automobile Protection Corporation - APCO common stock at a
price of $13 a share in cash.  The tender offer expired at midnight, New York
City time, on Wednesday, July 14, 1999, and all shares validly tendered (and
not properly withdrawn) prior to the expiration have been accepted for
payment.
    Approximately 11,193,357 shares were tendered in the offer, by book-entry
delivery, tender of certificates or notice of guaranteed delivery, prior to
the expiration of the offer, which constitutes approximately 93.5 percent of
the total number of outstanding shares of common stock of APCO.
    The merger of APCO and AM1 Acquisition Company will become effective as
soon as practicable after the satisfaction of the conditions set forth in and
subject to the terms of the Agreement and Plan of Merger among Ford, AM1
Acquisition Company and APCO.  Once the merger becomes effective, APCO will
become a wholly owned subsidiary of Ford.
    APCO is a premier all-makes extended service contract provider.  Its core
business is the marketing and administration of the EasyCare Certified Pre-
Owned Vehicle Merchandising Program and EasyCare Vehicle Service Contracts,
sold primarily through car and truck dealerships.  APCO also administers
warranty and service contract products under private labels.  Headquartered in
Atlanta, Georgia, APCO has 200 employees.
    The APCO acquisition is directly aligned with Ford's goal of becoming the
leading consumer company that provides automotive products and services.  A
key part of this strategy is to build profitable growth by expanding
downstream in the automotive value chain.  Acquiring APCO represents another
significant step in Ford Customer Service Division's efforts to become the
number one aftersales and service operation in the world.
    Ford Motor Company is the world's second largest automaker  Its automotive
brands include Aston Martin, Ford, Jaguar, Lincoln, Mazda, Mercury and Volvo.
Its automotive-related services include Ford Credit, Quality Care, Hertz, and
Visteon Automotive Systems.