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Dain Rauscher Wessels Initiates Coverage of Auto Manufacturers

7 January 2000

Dain Rauscher Wessels Initiates Coverage of Auto Manufacturers

    MINNEAPOLIS, Jan. 7 -- The following is being released by
Dain Rauscher Wessels, a division of Dain Rauscher Inc., which is a member of
the National Association of Securities Dealers, CRD number 31194:
    Dain Rauscher Wessels e-auto analyst Jonathan Lawrence today initiated
coverage of Ford Motor Co. , $50.88, with a Strong Buy-Average Risk
rating, and General Motors Corp. , $71.56, with a Neutral rating.
    "Ford is our preferred stock for two reasons," Lawrence said.  "First,
Ford's stake in Oracle Exchange represents significant potential value.
Oracle can provide one-stop shopping for procurement, plant-level ERP and
database management.  Second, Ford is expected to spin off Auto-Xchange within
12 to 18 months, which should create significant value for shareholders as
e-commerce companies trade at dramatically higher multiples than auto makers."
    Lawrence has a 12-month price target of $87 for Ford Motor.  His 12-month
price target for General Motors was set at $85.
    Investors interested in receiving more information should contact their
Dain Rauscher Wessels salesperson.
    The Dain Rauscher Wessels division includes equity research, equity
trading, institutional equity sales and corporate finance.  The division's 36
analysts focus on five industries:  consumer, energy, financial services,
health care and technology.  Currently, the analysts follow nearly 400
companies.  The division, which employs 350 people, has offices in Austin,
Texas; Boston; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York
City; San Francisco; and Seattle.
    Minneapolis-based Dain Rauscher Incorporated provides investment services
to individual investors and small businesses through offices in 26
predominantly western states, investment banking services to corporations and
municipalities nationwide, and trade clearing and settlement services to
non-affiliated broker-dealers throughout the United States and abroad.  Dain
Rauscher Incorporated, one of the nation's largest full-service securities
firms, is a member of the New York Stock Exchange and other major securities
exchanges, as well as the Securities Investor Protection Corp.  Dain Rauscher
Corporation, its holding company, trades on the New York Stock Exchange under
the symbol DRC.  The company's headquarters are located at Dain Rauscher
Plaza, 60 S. Sixth St.
    Additional information on the securities mentioned is available on
request.  This does not purport to be a complete statement of all material
facts related to any company, industry, or security mentioned.  The
information provided, while not guaranteed as to accuracy or completeness, has
been obtained from sources believed to be reliable.  The opinions expressed
reflect our judgment at this time and are subject to change without notice and
may or may not be updated.  DRI, its officers, directors, affiliates, and/or
employees (including the authors of this report) may from time to time have a
long or short position in publicly or privately issued securities of companies
mentioned or derivatives thereof and may sell or buy such securities for their
own or related accounts.  This notice shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which said offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.