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Visteon Corporation Pursues Greater Share Of Growing Worldwide Telematics Market

15 August 2000

Visteon Corporation Pursues Greater Share Of Growing Worldwide Telematics Market

    DEARBORN, Mich. - Visteon Corporation announced today that it is creating a 
new business system to focus on accelerating mobile communication through 
telematics and multimedia products and technologies.

    "Telematics and multimedia are part of a rapidly evolving market that
offers significant growth potential," said Peter J. Pestillo, Chairman,
President and Chief Executive Officer of Visteon.  "Visteon already has a
strong foundation of multimedia and telematics business and we expect it will
only grow stronger as we dedicate a team to developing new products and
technologies that meet marketplace demand."

    The new Telematics/Multimedia business system will be part of Visteon's
Comfort, Communication and Safety segment.  It will concentrate on developing
and delivering mobile wireless and information, entertainment, audio, safety
and convenience products.  In a recent study, UBS Warburg estimates that the
worldwide end-user telematics market is projected to grow to nearly $47
billion by 2010.

    Visteon has secured nearly $550 million of annual, incremental telematics
and multimedia business this year.  Global customers including Ford, General
Motors, Honda, and Nissan have sourced Visteon to provide products such as
navigation, communication, entertainment, in-car computing and audio systems
on several future vehicles -- some in the 2001 model year.  In addition,
Visteon is a key hardware supplier to the independent telematics company named
Wingcast, which Ford Motor Company and Qualcomm announced recently.

    "With the increased demand by consumers for telematics and multimedia
products, it is critical that Visteon create a focused group that can leverage
its engineering and technology expertise to grow this business," Pestillo
said.  "We will continue to develop the highest quality hardware and software
to support these advanced products and technologies.  Visteon will be at the
forefront of the industry."

    To reach this objective, Visteon will use its global systems integration
and engineering expertise, considerable consumer insight and strategic
partnerships with world-class companies such as Bang & Olufsen, Sirius
Satellite Radio, Samsung Electronics Co., Ltd., Microsoft, Intel and Lernout &
Hauspie.  These partnerships will lead to next generation voice, audio,
navigation, communication, entertainment and information products and
technologies that are a part of the telematics and multimedia business.

    Jim Wynalek will lead the new Telematics/Multimedia business system as its
vice president and general manager.  Prior to his new position, Wynalek led
Visteon's engineering processes and advanced technology efforts as Visteon's
chief technical officer.

    "Jim understands the rapid cycle time and increased growth potential of
the telematics and multimedia market," Pestillo said.  "He has keen insight
into how we can maximize our engineering synergies and leverage our resources
to the fullest."

    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 81,000 employees
working in three business segments: Dynamics and Energy Conversion; Comfort,
Communication and Safety; and Glass.