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Ford Motor Company Sets Final Timing and Terms for Visteon Distribution

13 June 2000

Ford Motor Company Sets Final Timing and Terms for Visteon Distribution

    DEARBORN, Mich. - Ford Motor Company announced today that it will distribute
0.130933 shares of Visteon Corporation for every share of Ford common or Class B
stock held on June 12.  Stated another way, shareholders will receive one share 
of Visteon for approximately every 7.637478 shares of Ford common or Class B 
stock held on June 12.  This distribution, which will be made on June 28, 
represents Ford's 100 percent stake in Visteon.

    The distribution ratio was calculated by dividing the number of Visteon
shares owned by Ford Motor Company (130 million) by the number of Ford common
and Class B shares outstanding on the record date of June 12 (992,872,120).

    As announced on May 31, Ford Motor Company will make a cash distribution
in lieu of Visteon stock to Ford employees who invest in Ford stock through
certain U.S. employee savings plans.  The cash distribution will be of equal
value to the stock distribution on a per share basis.

    Based on the Visteon when-issued closing stock price of $17.5625 on
June 12, the total value distributed to Ford shareholders would be
approximately $2.8 billion, or $2.30 per Ford share.  Without the additional
cash distribution, the total value distributed would have been approximately
$2.3 billion, or $1.89 per Ford share.  The actual value will be determined by
the value of Visteon stock on the distribution date.

    Visteon Corporation is one of the world's largest suppliers of automotive
systems and is recognized as a technology leader in electronics integration.
With 1999 sales of $19.4 billion, Visteon will rank among the top 100
companies on the Fortune 500 once it becomes an independent company.

    The Visteon stock distribution is separate from Ford Motor Company's
previously announced Value Enhancement Plan (VEP) that also will generate a
shareholder distribution this year.  Under the VEP, Ford shareholders will
exchange their current Ford common or Class B shares for new common or Class B
shares, plus cash or additional new Ford shares.  Timing for the VEP
distribution will be announced later this summer.