FDM Group Regulatory News (FDM)

21 Dec 2005 15:54

Ford Motor Co21 December 2005 Contact: News Media: Becky Sanch 313.594.4410 bsanch@ford.com Equity Investment Community: Terry Huch 313.594.0613 fordir@ford.com Fixed Income Investment Community: Rob Moeller 313.621.0881 fixedinc@ford.com Shareholder Inquiries: 800.555.5259 or 313.845.8540 stockinf@ford.com FORD COMPLETES SALE OF THE HERTZ CORPORATION TO PRIVATE EQUITY GROUP DEARBORN, Mich., Dec. 21,2005 - Ford Motor Company (NYSE: F) announced today ithas completed the sale of The Hertz Corporation to an investor group of leadingprivate equity firms. The investor group, composed of Clayton Dubilier & Rice, The Carlyle Group andMerrill Lynch Global Private Equity, purchased the equity of The HertzCorporation in a transaction valued at approximately $15 billion including debt.Under the terms of the agreement, which was entered into last September, Fordreceived $5.6 billion in cash for the sale of its 100 percent ownership interestin Hertz. As a result of the sale of Hertz, Ford will recognize a pre-tax gainin the fourth quarter of 2005 that is estimated to be in the range of $1.1billion to $1.3 billion. Hertz operates the largest general-use car rental business in the world and oneof the largest industrial, construction and material handling equipment rentalbusinesses in North America, based on revenues. Ford Motor Company, a global automotive industry leader based in Dearborn,Michigan, manufactures and distributes automobiles in 200 markets across sixcontinents. With nearly 325,000 employees and 110 plants worldwide, thecompany's core and affiliated automotive brands include Aston Martin, Ford,Jaguar, Land Rover, Lincoln, Mazda, Mercury and Volvo. Its automotive-relatedservices include Ford Motor Credit Company. This information is provided by RNS The company news service from the London Stock Exchange