Stmt re Redemption of Stock

Ford Motor Co
20 November 2003

Letter to New York Stock Exchange

This is to notify you as required by Section 311.01 of the Listing Manual that
Ford Motor Company has approved the redemption of all of the outstanding 9%
Junior Subordinated Debentures Due 2025. This redemption will result in the
mandatory redemption by Ford Motor Company Capital Trust I of its 9% Trust
Originated Preferred Securities (NYSE symbol 'F Pr T') (liquidation amount $25
per preferred security) (the 'Trust Preferred Securities').

The redemption date for the Trust Preferred Securities is January 2, 2004 and
the redemption price will be $25.00 per Trust Preferred Security. EquiServe
Trust Company, N.A. is Ford Motor Company Capital Trust I's transfer agent and
will act as the redemption agent for this transaction. EquiServe's address is
150 Royall Street, Canton, MA 02021.

We are also attaching a copy of the following for your information:

• Notice of Redemption, which will be mailed to each registered holder of the
Trust Preferred Securities beginning tomorrow, November 21, 2003;

• Press release we intend to issue with respect to the redemption later today;
and

• Form of Letter of Transmittal to be mailed to each record holder along with
the Notice of Redemption.

Letter from Ford Motor Company

                                                               November 21, 2003

To:    Holders of 9% Trust Originated Preferred Securities SM
       of Ford Motor Company Capital Trust I (Liquidation Amount $25 per Trust 
       Preferred Security)('Trust Preferred Securities')

                           NOTICE OF REDEMPTION OF 
                      FORD MOTOR COMPANY CAPITAL TRUST 1 
              9% Trust Originated Preferred Securities Due 2025 
             (Liquidation Amount $25 per Preferred Security)  
                         Cusip Number 345343206

This is to notify you that Ford Motor Company ('Ford') intends to redeem all of
its outstanding 9% Junior Subordinated Debentures due 2025 (the 'Debentures')
and, as a result, Ford Motor Company Capital Trust I (the 'Issuer') intends to
redeem all of its outstanding Trust Preferred Securities.

The Trust Preferred Securities will be redeemed effective January 2, 2004 (the
'Redemption Date'), The redemption price for the Trust Preferred Securities will
be equal to $25 per Trust Preferred Security, plus accrued and unpaid
distributions thereon to the Redemption Date (the 'Redemption Price'). On and
after the Redemption Date, the Redemption Price will become due and payable upon
surrender of the Trust Preferred Securities and distributions thereon will cease
to accrue on and after the Redemption Date, unless the Issuer defaults in paying
the Redemption Price.

To receive payment of the Redemption Price for the Trust Preferred Securities,
holders must surrender the Trust Preferred Securities and complete and return
the enclosed Letter of Transmittal indicating, among other things, their
taxpayer identification or social security number, to the PAYING AGENT for the
Trust Preferred Securities at one of the following addresses:
 
By Mail:
EquiServe Trust Company, N.A, 
Corporate Actions 
P.O. Box 43035 
Providence, RI 02940-3035
 
By Overnight Mail:
EquiServe Trust Company, N.A. 
Corporate Actions, 
Attn: Supranee Krausz 
150 Royall Street 
Canton, MA 02021
 
By Hand Delivery:
EquiServe Trust Company, N,A.
Corporate Actions
C/O Securities Transfer & Reporting
Services Inc.
100 William Street, Galleria
New York, NY 10038
 
The method of delivery of the Trust Preferred Securities to the aforesaid Paying
Agent is at the option of the holder thereof, but, if mail is used, registered
mail is suggested.

Holders of Trust Preferred Securities who have questions regarding the details
of this redemption may call EquiServe Trust Company at 1-800-251-4215.

FORD MOTOR COMPANY CAPITAL TRUST I

Contact: Oscar Suris
         1-313-322-1524
         [e-mail]
 
           FORD MOTOR COMPANY CAPITAL TRUST I TO REDEEM 
            9% TRUST ORIGINATED PREFERRED SECURITIES 
 

DEARBORN, Mich., Nov. 20, 2003 -- Ford Motor Company today announced that on
January 2, 2004, it intends to redeem all of its outstanding 9% Junior
Subordinated Debentures due 2025. This redemption will result in the
simultaneous mandatory redemption by Ford Motor Company Capital Trust I of its
outstanding 9% Trust Originated Preferred Securities SM (liquidation amount $25
per Preferred Security) ('Trust Preferred Securities') (NYSE: 'F Pr T').  

The redemption price will be $25.00 per Trust Preferred Security plus accrued
and unpaid distributions to the redemption date. 

On December 21, 1995, Ford Motor Company Capital Trust I issued 25,273,537 Trust
Preferred Securities, having an aggregate liquidation preference of
$631,838,425, all of which remain outstanding. 

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

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

Go to http://media.ford.com for news releases and high-resolution photographs.
 


DESCRIPTION OF SECURITIES: FORD MOTOR COMPANY CAPITAL TRUST I 
                           9% TRUST ORIGINATED PREFERRED SECURITIES SM

For Additional Information Call 1-800-251-4215.  
 
By Mail:
EquiServe Trust Company, N.A, 
Corporate Actions 
P.O. Box 43035 
Providence, RI 02940-3035
 
By Overnight Mail:
EquiServe Trust Company, N.A. 
Corporate Actions, 
Attn: Supranee Krausz 
150 Royall Street 
Canton, MA 02021
 
By Hand Delivery:
EquiServe Trust Company, N,A.
Corporate Actions
C/O Securities Transfer & Reporting
Services Inc.
100 William Street, Galleria
New York, NY 10038
 
LETTER OF TRANSMITTAL

Name & Address of Registered Holder (s):                  Certificate(s) Surrendered (attach additional schedule if 
(Please fill in if blank)                                 necessary)
                                                          Certificate Number(s)          Total Number of Trust
                                                                                         Preferred Securities
                                                                                         Certificates
         
          
                                                          Total Shares


                               SIGNATURES ARE REQUIRED BELOW

Please issue cheque as indicated above (see 'A' or 'B' below if required).

'A' SPECIAL ISSUANCE INSTRUCTIONS                    'B' SPECIAL DELIVERY INSTRUCTIONS

If you desire to have the cheque issued               If you desire to have the cheque mailed to an address 
in a name other than shown above,                     other than shown above, the following information
the following information must be provided.           must be provided

(see instruction 3 on reverse side)

NAME                                                 NAME

ADDRESS                                              ADDRESS


TIN                                                  ZIP CODE

                                IMPORTANT - FILL IN


            Taxpayer Identification Number (TIN) or Social Security Number

CERTIFICATION: FAILURE TO COMPLETE AND RETURN THE TIN INFORMATION WILL RESULT IN
BACKUP WITHHOLDING OF 30% OF PAYMENTS DUE YOU. SEE LETTER OF TRANSMITTAL
INSTRUCTIONS ON THE REVERSE FOR ADDITIONAL INFORMATION. Under the penalties of
perjury, I certify that the information provided in the above TIN box is true,
correct and complete.

Date: __________________         Telephone Number: __________________

SIGN HERE:   ___________________________________________________________________
                                Signature of owner(s)

By signing above, you acknowledge receipt of the attached Notice of Redemption
of Ford Motor Company Capital Trust I Trust Originated Preferred Securities
dated November 21, 2003.

                 INSTRUCTIONS FOR LETTER OF TRANSMITTAL

1.    GENERAL

This Letter of Transmittal should be properly filled in, dated and signed by the
holder(s) of the shares, which you are surrendering and mailing. Send your Ford
Motor Company Capital Trust I Trust Originated Preferred Securities SM (the
'Trust Preferred Securities') certificate(s) and this Letter of Transmittal to
the Corporate Actions Department of EquiServe Trust Company, N.A. ('EquiServe')
at the address on the front of the Letter of Transmittal. The method of delivery
is at your option and risk, but if sent by mail, we suggest insured registered
mail with return receipt.

2.    CHEQUE ISSUED IN SAME NAME

If the cheque is to be issued in the same name as the shares of Preferred Stock
surrendered, simply sign this Letter of Transmittal and provide a Taxpayer
Identification Number. (See No. 5 below.) Please return this Letter
of Transmittal with your original Preferred Stock certificate(s).

3.    CHEQUE ISSUED IN DIFFERENT NAME

If the cheque is to be issued in a name other than that of the registered
holder(s) of the shares surrendered, an eligible guarantor institution must
guarantee the signature(s) on this Letter of Transmittal. An eligible guarantor
is an institution such as a commercial bank, trust company, securities
broker/dealer, credit union or savings and loan that is a member of the
Medallion Signature Guarantee Program. A verification by a Notary Public is not
acceptable. Please return this Letter of Transmittal with the original Trust
Preferred Securities certificate(s). We would also recommend that you call
EquiServe at [phone] to ensure that all necessary documents and approvals
are in place.

4.    ENDORSEMENTS

This Letter of Transmittal should be endorsed as the name(s) appears on the face
of the Trust Preferred Securities certificate(s). In case an attorney, executor,
administrator, guardian or other fiduciary, or an officer of a corporation,
executes the endorsement, such person must give his full title in such capacity.
Appropriate evidence of authority to act in such capacity must be forwarded with
the Trust Preferred Securities certificate(s) surrendered. By endorsing this
Letter of Transmittal, you acknowledge receipt of the attached Notice of
Redemption of Ford Motor Company Capital Trust I Trust Originated Preferred
Securities, dated November 21, 2003.

5.    TAXPAYER IDENTIFICATION NUMBER CERTIFICATION

You are required to provide EquiServe with a certification and a correct
Taxpayer Identification Number (TIN) or Social Security Number. The
certification is provided on the front hereof. Failure to provide the
information may subject you to a 30% federal income tax withholding on any cash
payment to you.

6.    LOST CERTIFICATE

If any Trust Preferred Securities certificate(s) are lost, please contact
EquiServe at [phone], indicating which Trust Preferred Securities
certificate(s) you have, if any. You will need to complete an Affidavit of Loss
(provided by EquiServe), pay the required bond premium for the lost Trust
Preferred Securities certificates and submit the Affidavit and cheque along with
this Letter of Transmittal and any Trust Preferred Securities certificate(s) 
that you may have.


                      This information is provided by RNS
            The company news service from the London Stock Exchange           LLXFBXFBK