Ford Motor Co
8 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
VISTEON TO BEGIN TRADING ON WHEN-ISSUED BASIS
DEARBORN, Mich., June 8, 2000 - Ford Motor Company (NYSE:F) announced that the
stock of Visteon Corporation (NYSE:VC) has been approved for listing and will
be available for trading on a when-issued basis beginning today on the New York
Stock Exchange. Visteon Corporation currently is Ford's wholly owned automotive
systems subsidiary.
As previously announced, Ford Motor Company will distribute Visteon shares on
June 28 to Ford shareholders of record on June 12. Neither Ford nor Visteon
will receive proceeds from the distribution. The distribution represents 100
percent of Ford's current interest in Visteon. Shareholders will receive one
Visteon share for approximately every eight shares of Ford they own on the
record date. The actual distribution ratio will be determined and announced
after the record date.
In a filing with the SEC on June 2, Visteon stock was described as having a
maximum offering price per share of $11.85. This figure represents a historical
accounting value used in accordance with SEC rules and is not intended to
represent the expected market value of Visteon stock. The actual market price
will be determined by the marketplace once trading begins.