Investor News

Hazelwood, Mo., June 5, 2008 – Ford Motor Company today announced the sale of the St. Louis Assembly Plant property in Hazelwood, Mo, to Panattoni Development Company, Inc.

Panattoni plans to demolish the existing structure and add new buildings totaling approximately 2.6 million square feet of warehouse, distribution and light industrial space on the 155-acre site.

Panattoni is a commercial real estate development company based in Sacramento, Calif., specializing in industrial, office and retail projects. In the past three years the company has developed more 2.8 million square feet with a total value in excess of $135 million in St. Louis.

Ford worked closely with the city of Hazelwood and the state of Missouri to find a buyer who would develop the site in a way that benefits the community. Ford did not disclose the terms of the sale.

"We are pleased that the sale of the property to Panattoni will result in a new development that will serve the community and preserve a positive legacy for Ford Motor Company," said Jay Gardner, director, Real Estate Services, Ford Land.

"This is a unique site, and we are delighted to be involved in its redevelopment," said Mark Branstetter, senior vice president for Panattoni. "Through a shared vision and strong cooperation by all parties we were able to accomplish this acquisition. We are very excited to be building again in the City of Hazelwood."

Hazelwood Mayor T.R. Carr was pleased that Panattoni will spearhead the redevelopment of the property.

"When discussing the future of the site with Ford last year, I expressed my vision to see the building demolished and the area restored so that it would once again be an employment and business center," Carr said. "Ford accepted that vision and with the sale to Panattoni, new career opportunities will be made available and Hazelwood will remain a strong, viable community. We are proud to welcome Panattoni to Hazelwood."

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Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Michigan, United States, manufactures or distributes automobiles in 200 markets across six continents. With about 230,000 employees and about 100 plants worldwide, the company’s core and affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit www.ford.com.

Panattoni Development Company, Inc.
Panattoni Development Company (PDC) is a privately held, full service development company founded in 1986. During the last 5 years, the firm has developed over 75 million square feet of space. PDC has developed and managed industrial, office and retail facilities in more than 175 markets. The firm is headquartered in Sacramento, California and maintains 33 offices throughout the United States, Canada and Europe.

City of Hazelwood
The City of Hazelwood is a vibrant community, conveniently located in Northwest St. Louis County. With over 1,000 businesses, including several Fortune 100 companies, 17 beautiful parks and several welcoming residential subdivisions, the Hazelwood community is a diverse community with a variety of amenities.