RPO83

Ford Motor Company today announced that on December 1, 2002, it intends to redeem all outstanding shares of its Series B Cumulative Preferred Stock and all depositary shares that represent the stock.


The redemption price will be $25.00 per depositary share. Dividends payable on December 1, 2002 will be paid in the normal course.

On October 29, 1992, Ford issued 45,600,000 of Series B depositary shares. Approximately 7.1 million shares remain outstanding.

EquiServe Trust Company, N.A. is Ford's transfer agent and will act as the redemption agent for this transaction. EquiServe's address is 150 Royal Street, Canton, MA 02021.

Preferred shareholders with questions regarding the details of the redemption may call EquiServe at 1-800-251-4215.

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Ford to Sell 733 Million Euros of Notes Backed by Car Loans

London, Nov. 14 (Bloomberg) -- Ford Motor Co. plans to sell 733 million euros ($738 million) of floating-rate notes backed by car loans, said Moody's Investors Service and Standard & Poor's, which rated the securities.

The 10-year notes will be sold this month through a specially created company called Globaldrive BV, and will use as collateral Spanish and Italian auto loans made by Ford unit FCE Bank Plc. The company will sell 689 million euros of top-rated senior notes and 44 million euros of junior notes rated A1 by Moody's and A by S&P. ABN Amro Bank NV and Deutsche Bank AG will arrange the sale.

The notes will pay quarterly interest at a margin above the three-month euro interbank offered rate, or Euribor, a benchmark for corporate bond prices.

The sale is FCE Bank's fourth of bonds backed by auto loans. In March, Globaldrive's 768 million euros of top-rated notes maturing in 2011 were priced to pay 0.19 percentage points more than one-month Euribor.

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