Ford Motor Co
2 June 2000
Contact: Karen Hampton
313-594-4410
FORD MOTOR COMPANY SETS TIMING AND TERMS FOR VISTEON DISTRIBUTION TO
SHAREHOLDERS
DEARBORN, Mich., June 2, 2000 - Ford Motor Company (NYSE:F) today announced the
timing for the distribution of the company's 100 percent stake in Visteon
Corporation (NYSE: VC) to its shareholders. The distribution will occur on June
28 to Ford shareholders of record on June 12.
Ford Motor Company 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 June 12.
Ford Motor Company will make a cash distribution in lieu of Visteon stock to
employees who invest in Ford stock through certain U.S. employee savings plan.
The cash distribution will be of equal value to the stock distribution on a per
share basis.
Visteon Corporation is one of the world's largest suppliers of automotive
systems and is recognised as a technology leader in electronics integration.
With 1999 sales of $19.4 billion, Visteon will rank among the top 100 companies
on the Fortune 500 once it becomes an independent company.
The Visteon stock distribution is separate from Ford Motor Company's previously
announced Value Enhancement Plan (VEP) that also will generate a shareholder
distribution this year. Under the VEP, Ford shareholders will exchange their
current Ford common or Class B shares for new common or Class B shares, plus
cash or additional new Ford common shares. Timing for the VEP distribution will
be announced later this summer.