Ford Announces Results of Conversion Offer Related to Trust Preferred Securities

DEARBORN, Mich., Aug. 1 /PRNewswire-FirstCall/ -- Ford Motor Company(NYSE: F) ("Ford") today announced the results of its offer related to the6.50% Cumulative Convertible Trust Preferred Securities of Ford's whollyowned subsidiary trust, Ford Motor Company Capital Trust II. Ford hadoffered to pay a premium consisting of 1.7468 shares of Ford common stockvalued at $14.25 to holders who elected to convert their trust preferredsecurities to shares of Ford common stock in accordance with the terms ofthe offer. The conversion offer expired at 5:00 p.m., New York City time,on Tuesday, July 31, 2007. On Aug. 1, 2007, Ford accepted for conversion all trust preferredsecurities that were validly tendered and not withdrawn as of theexpiration of the conversion offer. Based on a final count by ComputershareShareholders Services, Inc., the conversion agent for the conversion offer,42,543,071 trust preferred securities, with an aggregate liquidationpreference of about $2.1 billion and representing approximately 43% of theissued and outstanding trust preferred securities, were tendered andaccepted for conversion. This will result in the issuance of an aggregateof 194,494,157 shares of Ford common stock, consisting of 120,179,921shares issued pursuant to the conversion terms of the trust preferredsecurities and 74,314,236 shares issued as the premium paid for conversion.Delivery of the shares of common stock in exchange for accepted trustpreferred securities will be made by Computershare Shareholders Services,Inc. on Aug. 3, 2007. Upon settlement of the conversion offer, 57,455,429trust preferred securities with an aggregate liquidation preference ofabout $2.9 billion will remain outstanding. Ford Motor Company Capital Trust II, a statutory business trust, wasformed in 2001 under the laws of the state of Delaware and is awholly-owned subsidiary of Ford Motor Company. Ford Motor Company, a globalautomotive industry leader based in Dearborn, Mich., manufactures ordistributes automobiles in 200 markets across six continents. With about260,000 employees and about 100 plants worldwide, the company's core andaffiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln,Mercury, Volvo and Mazda. The company provides financial services throughFord Motor Credit Company LLC.