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Ford Sets Key Dates for Value Enhancement Plan

28 June 2000

Ford Sets Key Dates for Value Enhancement Plan

    DEARBORN, Mich. - Ford Motor Company today announced additional key dates 
for the company's $10 billion recapitalization known as the Value Enhancement 
Plan.

    -- Mailing of Proxy Statement/Prospectus Begins: July 3
    -- 5-Day Trading Period to Determine Average Price: July 24-28
    -- Elections Due Date: Aug. 2
    -- Shareholder Meeting: Aug. 2

    These dates are tentative until the U.S. Securities and Exchange Commission 
declares the VEP registration statement effective.  An amendment to the 
registration statement was filed with the SEC today.

    VEP Shareholder Vote

    The VEP requires shareholder approval.  As previously announced,
shareholders of record on June 27 will be eligible to vote on the plan at a
special shareholders meeting held Aug. 2.  The meeting will be held in
Wilmington, Del. at 8:30 a.m.  Shareholders will be able to cast their votes
by phone, mail or the Internet prior to the meeting or in person at the
meeting.  Information regarding the VEP and the voting process will be
included in a proxy statement/prospectus that will be mailed to shareholders
beginning July 3.

    VEP Election Period

    Under the VEP, Ford shareholders will exchange each of their current Ford
common or Class B shares for a new Ford common or Class B share, respectively,
plus their choice of either $20 in cash (Option 1), $20 in additional new Ford
common shares (Option 2), or $20 in a combination of cash and new Ford common
shares (Option 3).  The previously announced all cash option has been
eliminated.

    Shareholders will receive information on each of these elections as well
as information on the election process when they receive the proxy
statement/prospectus.  The deadline for making elections is 8:30 a.m. Aug. 2.
Shareholders who fail to make an election by the deadline will be treated as
though they have chosen the $20 cash option (Option 1).

    Following the shareholder meeting, Ford Motor Company will announce final
voting results and preliminary election results.  The following week, final
election results as well as whether any pro ration will be necessary will be
announced.  The stock and cash will be distributed to Ford shareholders
shortly thereafter.

    VEP 5-Day Pricing Period

    The exact amount of stock, or stock and cash, that shareholders will
receive through the VEP will be based on the lower of $60 per share or an
average price determined over a five-day trading period, July 24-28.  The cash
amount paid per share is subject to adjustment if more than $10 billion in
aggregate is elected or if the average price exceeds $60 per share.  Details
about the pricing period and how it will affect the VEP will be included in
the proxy statement/prospectus.  The average price over this trading period
will be announced following the market close on July 28.

    Visteon Distribution

    The VEP is separate from Ford Motor Company's previously announced
distribution of Visteon Corporation stock, which is occurring
today.