Result of Tender Offer

Ford Motor Co
5 March 2001



Letter to: New York Stock Exchange

           Re: Tender Offer for Hertz Class A Common Stock

This is to notify you that Ford FSG, Inc., a subsidiary of Ford Motor Company,
has completed its tender offer for any and all outstanding shares of The Hertz
Corporation Class A Common Stock (NYSE: HRZ). The tender period expired at 12:00
midnight on March 2, 2001 (the 'Expiration Date').

As of the Expiration Date, 19,375,185 shares of the 20,345,153 shares held by
the public were tendered and not withdrawn pursuant to the tender offer. Of the
19,375,185 shares tendered, 992,218 shares were tendered pursuant to the
guaranteed delivery process.

By letter dated as of even date herewith, Ford FSG, Inc. has accepted for
payment all of the 19,375,185 shares tendered pursuant to the offer. A press
release announcing the results of the tender offer is attached for your
information. Following acceptance of the tendered shares, 969,968 shares of
Hertz Class A Common Stock continue to be held by the public.


Letter from: FORD MOTOR COMPANY



               FORD COMPLETES TENDER OFFER
               FOR HERTZ PUBLIC SHARES


DEARBORN, Mich., March 5 - Ford Motor Company (NYSE:F) today announced the
successful completion of its tender offer for the publicly held shares of Class
A common stock of The Hertz Corporation (NYSE: HRZ) for $35.50 a share.

The offer expired at midnight EST on March 2. Based on preliminary information,
19,375,185 of the approximately 20 million publicly traded shares of Hertz Class
A common stock were tendered by the expiration date. Ford FSG Inc., a Ford
subsidiary through which the tender offer was made, has accepted for payment all
validly tendered shares and expects to make payment to the depositary for the
accepted shares on March 6.

The tendered shares, together with the Hertz Class A shares already owned by
Ford, represent more than 90 percent of Hertz's outstanding Class A common
stock.

Ford and Hertz will now complete the transaction by merging a subsidiary of Ford
FSG with Hertz. Hertz will then become an indirect wholly owned subsidiary of
Ford Motor Company. As part of the merger, each of the remaining Hertz Class A
shares, other than shares for which appraisal rights have been demanded, will be
converted into $35.50 in cash, without interest.  Completion of the merger is
expected in about a week.


Contact:
Ford Motor Company
Media:
Todd Nissen
313.594.4410
[e-mail]

Securities Analysts:
Mike Holland
313.323.8221
[e-mail]

Shareholder Inquiries:
800-555-5259 or 313-845-8540 [e-mail]

Media Information Centre
1.800.665.1515 or
1.313.621.0504
[e-mail]

Go to http://media.ford.com for news releases and high-resolution photographs.