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Ford Sets Average Share Price for Value Enhancement Plan

31 July 2000

    DEARBORN, Mich. - Ford Motor Company announced today that the average Ford 
share price that will be used to determine the cash and stock to be received 
by shareholders in the company's Value Enhancement Program (VEP) will be 
$46.7317.  This price represents the volume-weighted average trading price of 
Ford common stock as reported on the New York Stock Exchange composite tape 
during the five-day trading period ending today.

    The VEP is subject to shareholder approval.  A special shareholder meeting
on this plan will be held Aug. 2 in Wilmington, Del.

    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, as the case
may be, plus their choice of either $20 in cash (Option 1), approximately
0.748 additional new Ford common shares (Option 2), or $20 in a combination of
cash and additional new Ford common shares (Option 3).  Shareholders who fail
to make an election by the 8:30 a.m., Aug. 2 deadline will be treated as
though they have chosen the $20 cash option (Option 1).  The result of
choosing Option 1 or Option 3 is the same as if a shareholder sold a portion
of their Ford shares.

    If the total amount of cash elected by shareholders exceeds $10 billion,
the $20 cash election (Option 1) will be pro rated accordingly and the
difference will be made up in additional new common shares.

    Shareholder elections are due by 8:30 a.m. Aug. 2.  Earlier deadlines
apply to shareholders who hold their stock through brokerage or other
financial institution accounts.  The results from the shareholder vote and
preliminary election results will be announced following the Aug. 2 meeting.
The company plans to credit the new Ford stock to shareholder accounts and
distribute cash on Aug. 8.