News
Contact: Kristen Kinley
313-390-1759
IMMEDIATE RELEASE
FORD COMPLETES $5.7 BILLION
VALUE ENHANCEMENT PLAN
DEARBORN, Mich., August 7, 2000 - Ford Motor Company [NYSE: F] confirmed today
that $5.7 billion in cash will be distributed to its shareholders through the
company's Value Enhancement Plan (VEP). The total number of new Ford common and
Class B shares outstanding will be 1.893 billion.
Under the VEP, Ford shareholders exchanged each of their old Ford common or
Class B shares for one new Ford common or Class B share, as the case may be,
plus either $20 in cash (Option 1), 0.748 additional new Ford common shares
(Option 2), or a combination of $5.17 in cash and 0.555 additional new Ford
common shares (Option 3). These amounts were based on the volume weighted
average price of Ford stock of $46.7317 for the period July 24-28.
Ford shareholders approved the VEP Aug. 2. The company plans to credit the new
Ford stock to shareholder accounts and distribute cash beginning tomorrow. The
new Ford Motor Company stock [NYSE: F] has been approved for listing and will be
available for regular way trading beginning Aug. 9 on the New York Stock
Exchange.
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