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Ford Will Not Submit Final Bid For Daewoo Motor

15 September 2000

Ford Will Not Submit Final Bid For Daewoo Motor

    SEOUL, South Korea, Sept. 15 The following statement was
issued today in Seoul, Republic of Korea and is attributable to W. Wayne
Booker, Vice Chairman:

    Ford Motor Company has decided not to make a final offer for the
acquisition of Daewoo Motor.  We believe that a proposal was not possible that
would be in the best interest of Daewoo and Ford and their respective
stakeholders.
    We have been very satisfied with the cooperation and professionalism of
the Corporate Restructuring Committee and the Daewoo employees who provided
support.  We sincerely appreciate the lengths to which they have gone to
cooperate with us.  We wish Daewoo Motor every success in the future.