Ford Launches Tender Offer to Acquire Hertz Public Shares

    DEARBORN, Mich., Feb. 2 Ford Motor Company
announced that a Ford subsidiary, Ford FSG Inc., today is commencing its
tender offer for any and all publicly held shares of Class A Common Stock of
The Hertz Corporation .  The price, announced on Jan. 16, is $35.50
a share.
    The tender offer will be followed by a merger transaction in which Ford
will acquire any remaining publicly held shares of Hertz.  The offer is
subject to certain conditions, but does not require a minimum number of shares
to be tendered.  The offer and withdrawal rights will expire at 12:00
midnight, Eastern Standard Time, on Friday, March 2, 2001, unless the offer is
extended.
    J.P. Morgan Securities Inc. is acting as dealer manager for the tender
offer.
    Ford currently owns about 81.5 percent of the outstanding shares of Hertz.
Public shareholders own the remaining 18.5 percent, equal to approximately 20
million shares.
    Investors and security holders are strongly advised to read the tender
offer statement and recommendation/solicitation statement regarding the tender
offer because they contain important information.  These statements have been
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 http://www.sec.gov .  The statements and related materials may be
obtained for free by directing such requests to Ford's Shareholder Relations
Department at 800-555-5259 or Hertz' Investor Relations Department at
201-307-2337.