Fthr reValue Enhancement Plan

Ford Motor Co
1 June 2000

  
Contact: Karen Hampton
         313-594-4410

               FORD MOTOR COMPANY ANNOUNCES ADDITIONAL DETAILS OF THE 
                           VALUE ENHANCEMENT PLAN

DEARBORN, Mich., June 1, 2000 - Ford Motor Company (NYSE:F) filed preliminary
proxy and registration statements with the U.S. Securities and Exchange
Commission today that outlined details of the $10 billion Value Enhancement Plan
(VEP) announced on April 14, including two new distribution choices for
shareholders.

As described in the filing, in exchange for each share of Ford common or   
Class B stock currently held, shareholders will be able to select one of the
following four choices:

        - Option 1: One share of new common or Class B stock, respectively, 
          plus $20 in cash,

        - Option 2: One share of new common or Class B stock, respectively, 
          plus new common stock with a value of $20,

        - Option 3: One share of new common or Class B stock, respectively, 
          plus a combination of cash and new common stock with a total value of
          $20, or

       - Option 4: Cash equaling the market value of Ford common stock.

'We decided to broaden the choices to provide our shareholders increased    
flexibility,' said Henry Wallace, Ford Motor Company chief financial officer.
'Ford shareholders are a diverse group and we believe the Value Enhancement Plan
structure is responsive to their varied needs.'

The total cash distribution will be limited to $10 billion. If the total amount
of cash elected by shareholders exceeds $10 billion, the all cash elections
(Option 4), and potentially the $20 cash elections (Option 1), will be pro rated
accordingly and the difference will be made up in additional new common stock.

The record and effective dates as well as other details regarding the plan will
be included in a final proxy statement, which the company expects to mail to
shareholders this summer. At that time, shareholders will be asked to vote on
the VEP and to make their elections. A shareholder meeting to approve the VEP is
expected to be held late this summer.

In addition to shareholder approval, the preliminary proxy statement and
registration statement is subject to review by the Securities and Exchange
Commission.

The Value Enhancement Plan distribution is separate from Ford Motor Company's
previously announced independence plan for Visteon Corporation, the company's
automotive components and systems subsidiary. Under the Visteon plan,
shareholders will receive a distribution of Visteon stock based on the number of
Ford shares they own and the total number of Ford shares outstanding on the
distribution record date. Actual timing and terms for the Visteon distribution
will be announced later.

This notice does not constitute an offer of any securities for sale. The company
urges investors to read thoroughly the Registration Statement on Form S-4 filed
with the Securities and Exchange Commission because it contains important
information. You may obtain the Form S-4 for free on the Internet at the SEC's
World Wide Web site at http://www.sec.gov. You may also obtain the documents
incorporated by reference in the Form S-4 from the Company by calling
800-555-5259 (within the U.S. and Canada) or 313-845-8540 (outside the U.S. and
Canada), or via electronic mail at [e-mail].