Tender Offer

Ford Motor Co
17 January 2001

FORD, HERTZ AGREE ON TERMS FOR FORD TO ACQUIRE HERTZ PUBLIC SHARES

DEARBORN, Mich., 7 PARK RIDGE, N.J., Jan. 16, 2001 - Ford Motor Company (NYSE:
F) and The Hertz Corporation (NYSE: HRZ) announced today they reached an
agreement for Ford to acquire all the publicly held shares of common stock of
Hertz at a price of $35.50 per share.

Ford currently owns about 81.5 percent of the outstanding shares of Hertz, and
public shareholders own the remaining 18.5 percent.

'We're pleased to have reached this agreement with the Hertz special committee
and board.  As we had said, acquiring the minority interest of Hertz reinforces
our strategy of becoming the world's leading consumer company for automotive
products and services,' said Henry Wallace, Ford Group Vice President and Chief
Financial Officer.

The $35.50 per share price represents an increase of 18 percent over Ford's
original offer of $30 per share made in September 2000.  It is also a premium of
46 percent over the pre-offer price of Hertz shares.

The transaction will be structured as a cash offer for all of the approximately
20 million outstanding public shares of Hertz.  Following completion of the
tender offer, Ford will acquire any remaining publicly held shares of Hertz
through a merger transaction.

The companies expect the closing to occur no later than early second quarter
2001.

J.P. Morgan is advising Ford Motor Company in the transaction, and Lazard is
advising the special committee of the Hertz board of directors.


Investors and security holders are strongly advised to read the tender offer
statement and recommendation/solicitation statement regarding the tender offer
referred to in this press release when they become available because they will
contain important information.  These statements will be filed by Ford and Hertz
with the Securities and Exchange Commission (SEC).  Investors and security
holders may obtain a free copy of the statements (when available) at
www.sec.gov.  The statements and related materials may be obtained for free by
directing such requests to Ford's Shareholder Relations Department at
1-800-555-5259 or Hertz' Investor Relations Department at 201-307-2337.

Contact:  Ford Motor Company

Media:  Todd Nissen
        313.594.4410
        [e-mail]

Securities Analysts:  Mike Holland
                      313.323.8221
                      [e-mail]

Media Information Center

1.800.665.1515 or
1.313.621.0504
[e-mail]




Hertz contact information:

Media Relations:  Richard Broome, 201-307-2486, [e-mail]
Investor Relations:  Lauren S. Babus 201-307-2337, [e-mail]