Fourth Quarter Earnings

Ford Motor Co 1 February 2000 FORD MOTOR COMPANY REPORTS INDUSTRY-RECORD OPERATING INCOME OF $7.2 BILLION IN 1999 AND RECORD FOURTH QUARTER EARNINGS OF $1.8 BILLION DEARBORN, January 26, 2000 - Ford Motor Company (NYSE:F) earned $7.2 billion in 1999, more than any other automotive company in history, and also established a new company record for annual revenue, which was $163 billion, up 13 percent. 'Ford had an outstanding year in 1999 by most measures and we achieved industry-record earnings, but what truly set the company apart was our consumer-focused business strategy', said President and CEO Jac Nasser. 'We made tremendous progress toward strengthening our brands and transforming the way all the people of Ford connect with consumers. This holistic approach is improving our core automotive business and enhancing shareholder value'. Ford reported full-year earnings of $7.237 million or $5.86 per diluted share of common and Class B stock. In 1998, Ford reported earnings of $22,071 million or $17.76 per share, including a non-cash gain of $15,955 million that resulted from Ford's spin-off of Associates First Capital (NYSE:AFS). Fourth-quarter 1999 earnings were $1.806 million or $1.47 per share on revenue of $44 billion. In the fourth quarter of 1998, Ford earning $1,043 million or 84 cents per share on revenue of $38 billion. The fourth quarter of 1998 included a charge of $631 million or 51 cents per share primarily for employee separation programs in North America, Europe and South America. As highlights of 1999, Nasser pointed to: * Ford's acquisition of Volvo Car and the creation of the Premier Automotive Group, which is comprised of Volvo, Jaguar, Lincoln and Aston Martin, to drive growth in higher margin vehicle segments. * The acquisitions of Kwik-fit, Automobile Protection Corporation (APCO) and other businesses to accelerate Ford's growth in automotive consumer services.