Value Enhancement Plan,etc

Ford Motor Co 2 August 2000 Contact: Media Inquiries: Karen Hampton Kristen Kinley 313-594-4410 313-390-1759 888-467-3673 Securities Analysts: Shareholder Inquiries Mike Holland 800-555-5259 or 313-322-8221 313-845-8540 FORD ANNOUNCES VOTING AND PRELIMINARY ELECTION RESULTS FOR VALUE ENHANCEMENT PLAN WILMINGTON, Del., Aug. 2, 2000 - Ford Motor Company (NYSE: F) shareholders approved the company's Value Enhancement Plan (VEP) at a special shareholders meeting held today. Voting results indicate that a total of 901,235,928 shares of common stock and 70,800,728 shares of Class B stock were represented at the meeting in person or by proxy. These shares represent 87.66 percent of the votes that could be cast. On the vote to approve the VEP, 86.04 percent voted for the plan, 13.96 percent voted against the plan. Of the votes represented at the meeting, 0.4 percent abstained. 'We are pleased that our shareholders have endorsed the Value Enhancement Plan,' said Bill Ford, Ford Motor Company chairman. 'This is an innovative plan that will help continue Ford Motor Company's tradition of rewarding shareholders - a tradition that has delivered total shareholder returns higher than the S&P 500 since the company went public in 1956.' Shareholder elections for the VEP were due at 8:30 a.m. today. Preliminary election results indicate that the total cash distribution will be approximately $6 billion and the total number of new Ford common and Class B shares outstanding will be approximately 1.9 billion. Final results will be announced prior to the distribution. Under the VEP, Ford shareholders are exchanging each of their current Ford common or Class B shares for a new Ford common or Class B share, as the case may be, plus their choice of either $20 in cash (Option 1), 0.748 additional new Ford common shares (Option 2), or a combination of approximately $5.40 in cash and 0.546 additional new Ford common shares Option 3). The company plans to credit the new Ford stock to shareholder accounts and distribute cash beginning Aug. 8.