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First Delphi Now Visteon Can MOPAR Be Far Behind?

14 April 2000

Ford does the SPIN...Visteon to stand on its own!

    DEARBORN, Mich., April 14 Visteon Corporation, one of the
world's largest suppliers of automotive components and systems, will become an
independent company, following a planned spin-off from its parent, Ford Motor
Company later this year.  The spin-off comes less than three years after the
automotive systems integrator was launched in September 1997.
    Visteon, with 1999 sales of $19.4 billion, will rank among the top
100 companies on the Fortune 500 once it becomes an independent company.
    "The decision by Ford Motor Company is one that we have been prepared for
since Visteon was launched," said Peter J. Pestillo, Visteon Chairman and CEO.
"Visteon has a proven track record of consumer-driven systems solutions.  We
also have a dedicated leadership team ready to increase shareholder value as
we become an independent company."
    Ford shareholders will receive a distribution of Visteon stock based on
the Ford stock they own and the total number of Ford shares outstanding on the
distribution record date.  The distribution ratio will be announced after the
record date and the distribution is expected to be made in the summer.
Specific record and distribution dates will be established after the
Securities and Exchange Commission clearance of Visteon's Registration
Statement filed today.
    "This action is in the best long-term interest of Visteon, Ford Motor
Company and Ford shareholders," said Ford Motor Company Chairman Bill Ford."
We are confident Visteon will have a successful future as an independent
company.  Their core strengths, like systems integration and electronics
capabilities, lie where the industry is moving."
    "Our goal is to become the world's leading technology-driven automotive
systems company," Pestillo said.  "Independence gives Visteon the opportunity
to leverage our heritage of systems design to succeed in today's changing
industry.  Our people have the talent and the drive to make Visteon a
success."
    Visteon Corporation is a leading full-service supplier that delivers
consumer-driven technology solutions to automotive manufacturers worldwide and
through multiple channels within the global automotive aftermarket.  Visteon
has a global delivery system of more than 130 technical, manufacturing, sales
and service facilities located in 23 countries.  It has more than
81,000 employees working in three core business segments: Dynamics and Energy
Conversion; Comfort, Communications & Safety; and Glass.