Value Enhancement Plan

Ford Motor Co
28 June 2000

Contact: Media Inquiries       Securities Analysts     Shareholder Inquiries
         Karen Hampton         Mike Holland            800-555-5259 or
         313-594-4410          313-323-8221            313-845-8540



               FORD SETS KEY DATES FOR VALUE ENHANCEMENT PLAN


DEARBORN, Mich., June 28, 2000 - Ford Motor Company (NYSE: F) today announced
additional key dates for the company's $10 billion recapitalization known as the
Value Enhancement Plan (VEP).

* Mailing of Proxy Statement/Prospectus Begins: July 3
* 5-Day Trading Period to Determine Average Price: July 24-28
* Elections Due Date: Aug. 2
* Shareholder Meeting: Aug. 2

These dates are tentative until the U.S. Securities and Exchange Commission
(SEC) declares the VEP registration statement effective. An amendment to the
registration statement was filed with the SEC today.

VEP Shareholder Vote

The VEP requires shareholder approval. As previously announced, shareholders of
record on June 27 will be eligible to vote on the plan at a special shareholders
meeting held Aug. 2. The meeting will be held in Wilmington, Del. at 8:30 a.m.
Shareholders will be able to cast their votes by phone, mail or the Internet
prior to the meeting or in person at the meeting. Information regarding the VEP
and the voting process will be included in a proxy statement/prospectus that
will be mailed to shareholders beginning July 3.

VEP Election Period

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, respectively, plus
their choice of either $20 in cash (Option 1), $20 in additional new Ford common
shares (Option 2), or $20 in a combination of cash and new Ford common shares
(Option 3). The previously announced all cash option has been eliminated.

Shareholders will receive information on each of these elections as well as
information on the election process when they receive the proxy statement/
prospectus. The deadline for making elections is 8:30 a.m. Aug. 2. Shareholders
who fail to make an election by the deadline will be treated as though they have
chosen the $20 cash option (Option 1).

Following the shareholder meeting, Ford Motor Company will announce final voting
results and preliminary election results. The following week, final election
results as well as whether any pro ration will be necessary will be announced.
The stock and cash will be distributed to Ford shareholders shortly thereafter.

VEP 5-Day Pricing Period

The exact amount of stock, or stock and cash, that shareholders will receive
through the VEP will be based on the lower of $60 per share or an average price
determined over a five-day trading period, July 24-28. The cash amount paid per
share is subject to adjustment if more than $10 billion in aggregate is elected
or if the average price exceeds $60 per share. Details about the pricing period
and how it will affect the VEP will be included in the proxy statement/
prospectus. The average price over this trading period will be announced
following the market close on July 28.

Visteon Distribution

The VEP is separate from Ford Motor Company's previously announced distribution
of Visteon Corporation (NYSE: VC) stock, which is occurring today.

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].