Visteon Deutschland GmbH

Visteon Announces Financial Agreement with Ford; Strategic and Structural Discussions Continue

    Van Buren Township, Michigan (ots/PRNewswire) - Visteon Corporation (NYSE: VC) today announced a financial agreement  with Ford Motor Company that will improve Visteon's operating results and cash flow and strengthen the operations that directly serve the automaker.    The details of the financial agreement are being reported in a Securities  and Exchange Commission filing.

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    "This financial agreement is the right step forward with Ford and supports the operations that directly serve our largest customer," said Mike  Johnston, president and chief executive officer.  "The commitments made by  Ford and Visteon under this agreement will improve Visteon's operating  results and cash flow.  It's a mutually beneficial agreement that is in the  best interest of both companies."

    Under the financial agreement, Ford agreed to reduced wage reimbursements from Visteon for hourly Ford-UAW employees assigned to Visteon facilities; accelerate payment terms to Visteon; and pay for capital  expenditures at certain Visteon plants in North America. Visteon agreed to  continue uninterrupted supply to Ford and to comply with contractual  agreements with Ford and the UAW.

    Ford Discussions Continue

    On Sept. 9, 2004, Visteon announced it would explore strategic and structural changes to its US business to achieve a sustainable and competitive business model.  Such changes would include Ford and Visteon's  legacy businesses.

    The discussions with Ford are progressing positively.  The goal is to  ensure the long-term competitiveness of Visteon and a continued supply of  components to Ford, while being mindful of obligations to the Ford-UAW  employees assigned to Visteon.

    "We are spending a great deal of time working with Ford to reach a conclusion," said  Johnston.  "For some time now, we have had a concept  that both parties are working toward achieving.  We are spending our time  working out the details of that concept.  Other than our conversations  with Ford, we are not in active discussions with anyone else."

    Visteon Corporation is a leading full-service supplier that delivers  consumer-driven technology solutions to automotive manufacturers worldwide  and through multiple channels within the global automotive aftermarket.    Visteon has about 70,000 employees and a global delivery system of more than  200 technical, manufacturing, sales and service facilities located in 25  countries.

    This press release contains "forward-looking statements" within the  meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from  those expressed in these forward-looking statements, including the  automotive vehicle production volumes and schedules of our customers, and in  particular Ford's North American vehicle production volumes; the successful  completion of our discussions with Ford and, if successful, implementing  structural changes that result from those discussions to achieve a  competitive and sustainable business; our ability to satisfy our future  capital and liquidity requirements; our successful execution of internal performance plans and other cost-reduction and productivity efforts; charges  resulting from restructurings, employee reductions, acquisitions or  dispositions; our ability to offset or recover significant material  surcharges; the timely completion of the review of our prior period  financial statements referred to in our press release of January 31, 2005;  and any adjustments that may result from such review; the effect of pension  and other post-employment benefit obligations; as well as those factors  identified in our filings with the SEC (including our Annual Report on Form  10-K for the year-ended December 31, 2003).  We assume no obligation to update these forward-looking statements.

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ots Originaltext: Visteon Corporation
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CONTACT:  Media Inquiries: Kimberly A.Welch, +1-734-710-5593, , or Analyst Inquiries: Derek Fiebig,
+1-734-710-5800, , both of Visteon Corporation. Photo:  NewsCom: PRN

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