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2000 Press Releases

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Full Doc	2001	Kroger Reports 19% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter Merger Synergies Reach $366 Million; Company Completes $750 Million Stock Repurchase Kroger Reports 19% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter Merger Synergies Reach $366 Million; Company Completes $750 Million Stock Repurchase (25K) Doc #253247: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}l89120aex99-1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 19% INCREASE IN EARNINGS PER SHARE, BEFORE MERGER COSTS AND ONE-TIME EXPENSES, FOR FIRST QUARTER MERGER SYNERGIES REACH $366 MILLION; COMPANY COMPLETES $750 MILLION STOCK REPURCHASE CINCINNATI, OH, June 26, 2000 -- The Kroger Co. (NYSE: KR) today reported earnings of $0.38 per diluted share, excluding costs related to a merger and one-time expenses, for the 16-week first quarter ended May 26, 2001. These results represent an increase of 19% over the first quarter of fiscal 2000. Total sales for the first quarter of fiscal 2001 increased 5.4% to $15.1 billion. Comparable food store sales, which include relocations and expansions, rose 2.5% for the quarter, while identical food store sales rose 1.9%. EBITDA (earnings before interest, taxes, depreciation, amortization, LIFO and one-time items) for the first quarter of 2001 totaled a record $1.05 billion, an increase of 8.1% from a year ago. "We are very pleased with our financial performance in the first quarter," said Joseph A. Pichler, Kroger chairman and chief executive officer. "Kroger's earnings growth was driven by: additional synergies from the Fred Meyer merger; strong expense controls; continued growth in corporate-brand sales; improvement in warehousing and transportation expense; and another outstanding performance from our manufacturing plants." Mr. Pichler said Kroger remains comfortable with achieving annual earnings per share growth of 16-18% through fiscal 2002 (which ends February 1 {PAGE} 2 1, 2003) from an adjusted base of $1.31 per share in 2000. Looking beyond fiscal 2002, Kroger expects to achieve sustainable earnings per share growth of 15% annually, excluding major acquisitions, he said. Among the financial highlights of the first quarter: - FIFO gross profit margin, without one-time expenses, increased 12 basis points to 27.03% generated by merger synergies, corporate-wide category management strategies, increased corporate-brand sales and savings from centralized purchasing. - Operating, general and administrative (OG&A) costs, without one-time expenses, decreased three basis points to 18.70%. Solid improvements in Kroger's productivity initiatives offset the negative impact of higher utility costs. - Estimated combined synergy savings of $366 million, an increase of $36 million from the end of fiscal 2000. Mr. Pichler said the Company is well on its way toward achieving and exceeding the combined synergy savings goal of $380 million by the end of fiscal 2001 - a full year ahead of schedule. "Kroger is committed to reducing OG&A costs as a percentage of sales year over year. I am pleased with the progress we are making in our productivity initiatives. We have also implemented a number of energy conservation measures to help offset some of the significant utility cost increases," Mr. Pichler said. During the first quarter of 2001, Kroger opened, expanded, relocated or acquired 46 stores. Overall food store square footage increased 4.3% over the prior year. Including acquisitions, capital expenditures for the quarter totaled $645 million. Net working capital totaled $700 million, an increase of $264 million from the first quarter of fiscal 2000. The Company attributed the increase primarily to increases in inventory. 2 {PAGE} 3 "Our operators have the right incentives in place and are working diligently to reduce working capital. We remain committed to reducing working capital by $500 million from the benchmark we set in the third quarter of 1999," Mr. Pichler said. The Company also announced that it repurchased approximately 12.9 million shares of Kroger common stock during the first quarter at an average price of $23.59 per share, for a total investment of $304 million. Kroger recently completed the $750 million stock repurchase program announced in April 2000 and at current prices is buying back stock under the $1 billion program authorized earlier this year by Kroger's Board of Directors. Net total debt was $8.7 billion. Compared to the first quarter of 2000, net total debt increased $267 million primarily because of the increased investment in working capital and capital expenditures. Net total debt was 2.39 times EBITDA, as compared to 2.61 times in the first quarter of 2000. The Company continues to improve toward the goal of reducing debt to 2 times EBITDA. During the first quarter, Kroger incurred merger-related and one-time expenses of $16.2 million pre-tax, primarily as a result of systems conversions and severance payments. Of this amount, $2.3 million was non-cash and $13.9 million was cash. For fiscal 2001, Kroger continues to expect merger-related costs to be in the range of $70-$80 million. These costs are primarily related to systems conversions. Headquartered in Cincinnati, Ohio, Kroger is the nation's largest retail grocery chain. At the end of the first quarter, the Company operated 2,380 supermarkets and multi-department stores in 32 states under approximately two dozen banners, including Kroger, Fred Meyer, Ralphs, Smith's, King Soopers, Dillon, Fry's, City Market, Food 4 Less and Quality Food Centers. Kroger also operates 788 convenience stores, 407 fine jewelry stores and 41 food processing plants. # # # 253247	Kroger Kroger Co. ( Grocery ) As referenced in this Kroger Reports 19% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter Merger Synergies Reach $366 Million; Company Completes $750 Million Stock Repurchase: Kroger Co – 99.1 {SEQUENCE}2 {FILENAME}l89120aex99-1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co . (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 19% INCREASE IN EARNINGS PER SHARE, BEFORE _____________ Kroger Co – 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co . (513) 762-4969 KROGER REPORTS 19% INCREASE IN EARNINGS PER SHARE, BEFORE MERGER COSTS AND ONE-TIME EXPENSES, FOR FIRST QUARTER MERGER _____________ Kroger Co – ONE-TIME EXPENSES, FOR FIRST QUARTER MERGER SYNERGIES REACH $366 MILLION; COMPANY COMPLETES $750 MILLION STOCK REPURCHASE CINCINNATI, OH, June 26, 2000 -- The Kroger Co . (NYSE: KR) today reported earnings of $0.38 per diluted share, excluding costs related to a merger and one-time expenses, for _____________ Kroger co – set in the third quarter of 1999," Mr. Pichler said. The Company also announced that it repurchased approximately 12.9 million shares of Kroger co mmon stock during the first quarter at an average price of $23.59 per share, for a total investment of $304 million. Kroger _____________ Kroger co – systems conversions and severance payments. Of this amount, $2.3 million was non-cash and $13.9 million was cash. For fiscal 2001, Kroger co ntinues to expect merger-related costs to be in the range of $70-$80 million. These costs are primarily related to systems conversions. _____________ dt 107487
Full Doc	2000	Crown Cork & Seal to Suspend Quarterly Dividend to Focus on Debt Reduction Crown Cork & Seal to Suspend Quarterly Dividend to Focus on Debt Reduction (4K) Doc #205465: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}PRESS RELEASE DATED DECEMBER 15, 2000 {TEXT} Crown Cork & Seal Company, Inc. Exhibit 99.1 CROWN CORK & SEAL TO SUSPEND QUARTERLY -------------------------------------- DIVIDEND TO FOCUS ON DEBT REDUCTION ----------------------------------- Philadelphia, PA - December 15, 2000. Crown Cork & Seal Company, Inc. (NYSE & Paris Bourse: CCK) announced that its Board of Directors voted to suspend the Company's quarterly dividend on its common stock. The next scheduled dividend would have been payable in February 2001 to shareholders of record. The Company's quarterly dividend had been set at $0.25 per share, or an aggregate of approximately $126 million on an annualized basis. The Company intends to dedicate the cash which would have been used to pay dividends towards debt reduction. John W. Conway, President stated, "As has been reported widely, companies with alleged asbestos liabilities have been hit hard in the financial markets in the wake of the recent bankruptcy filings. The Company has a strong cash flow and firmly believes it can manage its asbestos liabilities, however, it is clear that in the present circumstances the financial markets and rating agencies expect us to preserve our free cash. We believe the change in our dividend policy, which our Board will review periodically, should benefit the Company's shareholders by increasing liquidity and providing further financial flexibility." William J. Avery, Chairman and CEO stated that the Board made this decision after considerable deliberation, but recognized the current state of the financial markets and the importance to shareholders of an improved credit position. He added that as an additional indication of the Board's confidence many members have recently been purchasing company stock. Cautionary Note Regarding Forward-Looking Statements Except for historical information, all other information in this press release consists of forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve a number of risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the actual results of operations or financial condition of the Company to differ include, without limitation, competitive pressures affecting the Company, its customers and suppliers; the Company's ability to generate significant free cash and maintain appropriate debt levels and liquidity; cost reduction efforts and expected savings; the outcome of asbestos-related litigation (including the level of future claims and terms of settlements, and the impact of bankruptcy filings by other companies with asbestos-related liabilities, which could increase the Company's asbestos-related costs over time) and other litigation and contingencies; changes in the availability and pricing of raw materials and the Company's ability to pass price increases through to its customers; costs and difficulties related to the integration of acquired businesses; the impact of any potential dispositions or other strategic realignments; and changes or differences in U.S. or international economic, monetary or political conditions. In addition, other factors have been discussed under the caption `Forward-Looking Statements' in the Company's Form 10-K Annual Report for the year ended December 31, 1999 and in subsequent filings. The company does not intend to review or revise any particular forward-looking statement in light of future events. Crown Cork & Seal is the leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania. * * * end * * * {/TEXT} {/DOCUMENT} 205465	Crown Cork Crown Cork & Seal Company, Inc. As referenced in this Crown Cork & Seal to Suspend Quarterly Dividend to Focus on Debt Reduction: crown cork – EX-99 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}PRESS RELEASE DATED DECEMBER 15, 2000 {TEXT} Crown Cork & Seal Company, Inc. Exhibit 99.1 CROWN CORK & SEAL TO SUSPEND QUARTERLY -------------------------------------- DIVIDEND TO crown cork – PRESS RELEASE DATED DECEMBER 15, 2000 {TEXT} Crown Cork & Seal Company, Inc. Exhibit 99.1 CROWN CORK & SEAL TO SUSPEND QUARTERLY -------------------------------------- DIVIDEND TO FOCUS ON DEBT REDUCTION ----------------------------------- Philadelphia, PA - December 15, crown cork – SEAL TO SUSPEND QUARTERLY -------------------------------------- DIVIDEND TO FOCUS ON DEBT REDUCTION ----------------------------------- Philadelphia, PA - December 15, 2000. Crown Cork & Seal Company, Inc. (NYSE & Paris Bourse: CCK) announced that its Board of Directors voted crown cork – intend to review or revise any particular forward-looking statement in light of future events. Crown Cork & Seal is the leading supplier of packaging products to consumer marketing companies around the dt 7355
Full Doc	2000	Titan Acquisition of Averstar Closes Titan Acquisition of Averstar Closes (3K) Doc #235773: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}9 {FILENAME}ex-99_1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} EXHIBIT 99.1 TITAN PRESS RELEASE TITAN ACQUISITION OF AVERSTAR CLOSES SAN DIEGO, CA --JUNE 27, 2000 -- The Titan Corporation (NYSE: TTN) today announced that the previously announced acquisition of AverStar, Inc. has closed. The closing of the transaction followed a vote by AverStar shareholders approving the transaction. A technology rich company with a large intellectual property base, AverStar provides information technology solutions to a broad and diversified customer base comprised primarily of the Department of Defense and civilian federal agencies. Key areas of focus include information assurance, information operations, and network and information security. In addition to broadening and strengthening Titan's government-related customer base, the AverStar acquisition also provides Titan's technology incubator with two new businesses. The first new business provides network, Internet and information security services and will target commercial businesses seeking to detect and protect against network intrusions as well as those seeking to conduct secure electronic communications and transactions. The second provides web based e-business solutions and e-business application development services to the financial industry. Throughout the remainder of the year, Titan will be evaluating the market opportunities for each of the businesses and the potential for creating independent commercial business units. Also today, Titan announced that the acquisition of SenCom, a privately held information technology services company had also closed. Headquartered in San Diego, California, The Titan Corporation is a diversified technology company that creates, builds, and launches technology-based businesses, offering innovative technical solutions. Three of Titan's four core businesses develop and deploy communications and information technology solutions and services. In addition, Titan markets the leading technology for the electronic pasteurization of food products and is continually identifying promising technologies suitable for commercialization. The company has 7,200 employees, annualized sales of approximately $800 million and total backlog in excess of $2.0 billion. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, dependence on continued funding of U.S. Department of Defense programs, government contract procurement and termination risks, risks associated with acquiring other companies, including integration risks, and other risks described in the Company's Securities and Exchange Commission filings. {PAGE} MEDIA CONTACT: WIL WILLIAMS, VICE PRESIDENT CORPORATE COMMUNICATIONS (858) 552-9724 OR wwilliams@titan.com INVESTOR RELATIONS CONTACT: ROCHELLE BOLD, VICE PRESIDENT INVESTOR RELATIONS (858) 552-9400 OR invest@titan.com IF YOU WOULD LIKE TO RECEIVE PRESS RELEASES VIA ELECTRONIC MAIL, PLEASE CONTACT invest@titan.com PRESS RELEASES AND OTHER TITAN INFORMATION ARE AVAILABLE ON THE TITAN CORPORATION'S WORLD WIDE WEB SITE: http://www.titan.com/ {/TEXT} {/DOCUMENT} 235773	Titan Titan Corp. ( Computer Networks ) As referenced in this Titan Acquisition of Averstar Closes: Titan Corp – TITAN PRESS RELEASE TITAN ACQUISITION OF AVERSTAR CLOSES SAN DIEGO, CA --JUNE 27, 2000 -- The Titan Corp oration (NYSE: TTN) today announced that the previously announced acquisition of AverStar, Inc. has closed. Titan Corp – privately held information technology services company had also closed. Headquartered in San Diego, California, The Titan Corp oration is a diversified technology company that creates, builds, and launches technology-based businesses, offering TITAN CORP – PLEASE CONTACT invest@titan.com PRESS RELEASES AND OTHER TITAN INFORMATION ARE AVAILABLE ON THE TITAN CORP ORATION'S WORLD WIDE WEB SITE: http://www.titan.com/ {/TEXT} {/DOCUMENT} dt 47713
Full Doc	2000	Titan Announces Acquisition of Sencom Corporation Titan Announces Acquisition of Sencom Corporation (4K) Doc #235784: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}ex-99_1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} Exhibit 99.1 PRESS RELEASE TITAN ANNOUNCES ACQUISITION OF SENCOM CORPORATION SAN DIEGO, CA - JUNE 1, 2000 -- THE TITAN CORPORATION (NYSE:TTN) today announced that it has entered into a definitive agreement to acquire all the stock of SenCom Corporation, a privately held information technology services company headquartered in Bedford, MA in a cash purchase for an undisclosed amount. SenCom's 335 engineers and scientists will become part of Titan Systems Corporation, Titan's government information technology business. Founded in 1992 by Dr. Fredrick S. Yeatts, SenCom provides information technology services to government customers, principally the U.S. Air Force, the Defense Information Systems Agency and the U.S. Customs Service, specializing in the engineering and analysis of radar and electro-optical sensors, command and control system development, computer and network security, and business process engineering and program management. SenCom also performs key supporting roles in programs of high national importance such as National Missile Defense, Theater Missile Defense, Space Surveillance Network Improvement, Global Command & Control System and Drug Interdiction and Control. "The acquisition of SenCom significantly strengthens our relationship with certain key customers including the U.S. Air Force, joint services and the intelligence community. In addition, SenCom brings unique technical capabilities and experience in the areas of sensor and tracking systems, national missile defense, and information security certification. With the acquisition of SenCom, we have added another premier information technology services company to our diversified information technology services business while gaining the valuable technical expertise of more than 300 highly specialized scientists and engineers," said GENE W. RAY, Chairman, President and CEO of Titan. Headquartered in San Diego, California, The Titan Corporation is a diversified technology company that creates, builds and launches technology-based businesses, offering innovative technical solutions. Three of Titan's four core businesses develop and deploy communications and information technology solutions and services. In addition, Titan markets the leading technology for the electronic pasteurization of food products and is continually identifying promising technologies suitable for commercialization. The Company has 5,400 employees, annualized sales of approximately $750 million and total backlog in excess of $1.6 billion. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, dependence on continued funding of U.S. Department of Defense programs, government contract procurement and termination risks, risks associated with acquiring other companies, including integration risks, and other risks described in the Company's Securities and Exchange Commission filings. ### INVESTOR RELATIONS CONTACT: Rochelle Bold, VP Investor Relations (858) 552-9400 or invest@titan.com MEDIA CONTACT: Wil Williams, VP Corporate Communications (858) 552-9724 or wwilliams@titan.com {/TEXT} {/DOCUMENT} 235784	Titan Titan Corp. ( Computer Networks ) As referenced in this Titan Announces Acquisition of Sencom Corporation: TITAN CORP – PRESS RELEASE TITAN ANNOUNCES ACQUISITION OF SENCOM CORPORATION SAN DIEGO, CA - JUNE 1, 2000 -- THE TITAN CORP ORATION (NYSE:TTN) today announced that it has entered into a definitive agreement to acquire Titan Corp – GENE W. RAY, Chairman, President and CEO of Titan. Headquartered in San Diego, California, The Titan Corp oration is a diversified technology company that creates, builds and launches technology-based businesses, offering dt 47718
Full Doc	2000	Ford Motor Company Lowers First Quarter North American Production Plan [2001] Ford Motor Company Lowers First Quarter North American Production Plan [2001] (3K) Doc #240496: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}k59242ex20.txt {DESCRIPTION}PRESS RELEASE {TEXT} {PAGE} 1 NEWS RELEASE Contact: George Pipas (313) 323-9216 FORD MOTOR COMPANY LOWERS FIRST QUARTER 2001 NORTH AMERICAN PRODUCTION PLAN DEARBORN, Mich., Dec. 21, 2000 - Ford Motor Company announced today that it has revised downward its first quarter 2001 North American production plan. The company now plans to produce 1,050,000 vehicles in the first quarter, down 107,000 units (nine percent) from the prior plan. The company's first quarter 2001 North American production plan is down 220,000 units (17 percent) from the first quarter 2000. "It's clear that U.S. economic growth is slowing," said Martin Inglis, Vice President, Ford North America, "and surveys of consumer sentiment point to lower levels of spending in the future. The revised first quarter plan is intended to align our U.S. inventories with consumer demand. We're making every effort to stay in front of the slowing demand curve." Inglis said the first quarter production cuts involve a one-week idling for most North American assembly plants. "The production cuts are front-loaded in the quarter," said Inglis, "with most of the downtime scheduled for the last two weeks of January. This gives us the flexibility to assess the economic picture again before the spring selling season. At the same time, we are intensifying our efforts to achieve operating efficiencies and cost improvements." Ford also announced that its fourth quarter 2000 production plan was reduced by weather-related losses in North America and parts shortages outside North America. As a result, the company expects fourth quarter earnings will be reduced by about 10 cents per share from the present First Call consensus analyst estimate of 74 cents a share. Sales Analysis and Reporting,The American Road, Room 1017, Dearborn, MI 48121 Telephone: (313) 323-9216; Fax: (313) 323-0610 Internet: http://media.ford.com {PAGE} 2 Downtime in Ford Motor Company's first quarter 2001 North American production plan is as follows: Week of January 1, 2001 Atlanta Assembly Plant Ford Taurus/Mercury Sable Week of January 8, 2001 Atlanta Assembly Plant Ford Taurus/Mercury Sable Hermosillo Assembly Plant Ford Escort/ZX2 Michigan Truck Plant Ford Expedition/Lincoln Navigator Week of January 22, 2001 Avon Lake Assembly Plant Mercury Villager/Nissan Quest Cuautitlan Assembly Plant Ford F-Series Chicago Assembly Plant Ford Taurus/Mercury Sable Edison Assembly Plant Ford Ranger/Mazda B-Series Kansas City Assembly Plant Ford F-Series Lorain Assembly Plant Ford Econoline Norfolk Assembly Plant Ford F-Series Oakville Assembly Plant Ford Windstar Ontario Truck Plant Ford F-Series Twin Cities Assembly Plant Ford Ranger St. Thomas Assembly Plant Ford Crown Victoria/Mercury Grand Marquis Wayne Assembly Plant Ford Focus Wixom Assembly Plant Lincoln Town Car, Continental, LS Week of January 29, 2001 Avon Lake Assembly Plant Mercury Villager/Nissan Quest Cuautitlan Assembly Plant Ford F-Series Lorain Assembly Plant Ford Econoline {/TEXT} {/DOCUMENT} 240496	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Motor Company Lowers First Quarter North American Production Plan [2001]: FORD MOTOR CO – txt {DESCRIPTION}PRESS RELEASE {TEXT} {PAGE} 1 NEWS RELEASE Contact: George Pipas (313) 323-9216 FORD MOTOR CO MPANY LOWERS FIRST QUARTER 2001 NORTH AMERICAN PRODUCTION PLAN DEARBORN, Mich., Dec. 21, 2000 - Ford Ford Motor Co – MOTOR COMPANY LOWERS FIRST QUARTER 2001 NORTH AMERICAN PRODUCTION PLAN DEARBORN, Mich., Dec. 21, 2000 - Ford Motor Co mpany announced today that it has revised downward its first quarter 2001 North American production Ford Motor Co – 323-9216; Fax: (313) 323-0610 Internet: http://media.ford.com {PAGE} 2 Downtime in Ford Motor Co mpany's first quarter 2001 North American production plan is as follows: Week of January dt 66517
Full Doc	2000	Ford Motor Company's November U.S. Sales Down 7% Ford Motor Company's November U.S. Sales Down 7% (2K) Doc #240497: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} [Graphic Omitted] News Release Contact: George Pipas (313) 323-9216 FORD MOTOR COMPANY'S NOVEMBER U.S. SALES DOWN 7% DEARBORN, MI, December 1, 2000 - U.S. consumers purchased or leased 300,665 cars and trucks from Ford, Mercury, Lincoln, Jaguar, Volvo, and Land Rover dealers in the month of November, down seven percent from a year ago. (For reference, last year, the company posted its highest November sales since 1977.) Sales of passenger cars totaled 111,086, down 16 percent from a year ago. Truck sales totaled 189,579, down one percent from a year ago. Calendar year-to-date, Ford Motor Company's car and truck sales totaled 3.93 million, up two percent from the same period a year ago. Highlights for the month included: o Ford dealers reported combined car and truck sales of 250,664, enabling Ford Division to eclipse three million sales in a calendar year for the seventh year in a row. Almost 3.25 million U.S. customers have taken delivery of a new Ford car or truck in 2000. o Ford Focus sales were 20,900, up 34 percent from a year ago. o Ford Escape sales were 13,000, the highest monthly sales so far. In November, Ford Outfitters reported record sales of "No Boundaries" sport utility vehicles as combined sales of the Ford Explorer, Expedition, Excursion, and Escape totaled 68,173. Ford Motor Company also announced today that it plans to produce 1,072,000 vehicles (367,000 cars and 705,000 trucks) in North America in the fourth quarter -- a reduction of 38,000 vehicles (19,000 cars and 19,000 trucks) from the plan it announced a month ago. In the fourth quarter of 1999, the company produced 1,149,000 vehicles (427,000 cars and 722,000 trucks). _______________________________________________________________________________ Sales Analysis and Reporting, The American Road, Room 1017, Dearborn, MI 48121 Telephone: (313) 323-9216; Fax: (313) 323-0610 Internet: http://media.ford.com {PAGE} -2- # # # {/TEXT} {/DOCUMENT} 240497	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Motor Company's November U.S. Sales Down 7%: FORD MOTOR CO – txt {DESCRIPTION}EXHIBIT 20 {TEXT} [Graphic Omitted] News Release Contact: George Pipas (313) 323-9216 FORD MOTOR CO MPANY'S NOVEMBER U.S. SALES DOWN 7% DEARBORN, MI, December 1, 2000 - U.S. Ford Motor Co – sales totaled 189,579, down one percent from a year ago. Calendar year-to-date, Ford Motor Co mpany's car and truck sales totaled 3.93 million, up two percent from the Ford Motor Co – vehicles as combined sales of the Ford Explorer, Expedition, Excursion, and Escape totaled 68,173. Ford Motor Co mpany also announced today that it plans to produce 1,072,000 vehicles (367,000 dt 66518
Full Doc	2000	Ford Motor Company's October U.S. Sales Down 6% Ford Motor Company's October U.S. Sales Down 6% (2K) Doc #240499: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} Exhibit 20 [OBJECT OMITTED] News Release Contact: George Pipas (313) 323-9216 FORD MOTOR COMPANY'S OCTOBER U.S. SALES DOWN 6% DEARBORN, MI, November 1, 2000 - U.S. consumers purchased or leased 299,639 cars and trucks from Ford, Mercury, Lincoln, Jaguar, Volvo, and Land Rover dealers in the month of October, down six percent from a year ago. Sales of passenger cars totaled 112,866, down 12 percent from a year ago. The decline in car sales primarily reflected lower sales for the discontinued Ford Contour and Mercury Mystique compact cars and also Ford Crown Victoria and Mercury Grand Marquis full-size cars where Ford shipments and dealer sales have slowed until air bag modules can be replaced. Truck sales totaled 186,773, down one percent from a year ago. The decline primarily reflected lower sales for minivans, which also were affected by the air bag module problem, and lower sales for the Ford F-Series pickup. Ford Windstar sales were down 21 percent and Mercury Villager sales were down 26 percent. To expedite replacement efforts of defective air bag modules, Ford has reduced production schedules this week and will suspend production next week at the St. Thomas (Crown Victoria and Grand Marquis) and Oakville (Windstar) assembly plants. These actions will divert air bag modules from new vehicle production to vehicles in dealer and company inventory. Including these actions, Ford Motor Company's fourth quarter North American production plan totals 1,110,000 vehicles (385,000 cars and 725,000 trucks), three percent lower than fourth quarter 1999 (cars down 11 percent and trucks equal to a year ago). In other truck segments, October sales of Ford sport utility vehicles totaled 65,691, up 11 percent from a year ago. Sales of the all-new Ford Escape compact SUV more than offset _______________________________________________________________________________ Sales Analysis and Reporting, The American Road, Room 1017, Dearborn, MI 48121 Telephone: (313) 323-9216; Fax: (313) 323-0610 Internet: http://media.ford.com {PAGE} -2- the decline in Ford Explorer sales. Ford Escape sales were 9,818, up 29 percent from September. Ford Explorer sales were 29,611, down 16 percent from October 1999. Year-to-date through October, Ford Motor Company's car and truck sales total 3.63 million, up three percent from the same period a year ago. # # # {/TEXT} {/DOCUMENT} 240499	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Motor Company's October U.S. Sales Down 6%: FORD MOTOR CO – EXHIBIT 20 {TEXT} Exhibit 20 [OBJECT OMITTED] News Release Contact: George Pipas (313) 323-9216 FORD MOTOR CO MPANY'S OCTOBER U.S. SALES DOWN 6% DEARBORN, MI, November 1, 2000 - U.S. Ford Motor Co – modules from new vehicle production to vehicles in dealer and company inventory. Including these actions, Ford Motor Co mpany's fourth quarter North American production plan totals 1,110,000 vehicles (385,000 Ford Motor Co – sales were 29,611, down 16 percent from October 1999. Year-to-date through October, Ford Motor Co mpany's car and truck sales total 3.63 million, up three percent from the dt 66520
Full Doc	2000	Ford Earns $888 Million in Third Quarter Ford Earns $888 Million in Third Quarter (58K) Doc #240510: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} NEWS Contacts: Media Inquiries: Securities Analysts: Shareholder Inquiries: --------------- ------------------- --------------------- Karen Hampton Mike Holland (800) 555-5259 or 1.313.594.4410 313.323.8221 (313) 845-8540 khampto2@ford.com mhollan1@ford.com stockinfo@ford.com Media Information Center 1.800.665.1515 or 1.313.621.0504 media@ford.com Go to http://media.ford.com for news releases and high-resolution photographs. IMMEDIATE RELEASE FORD EARNS $888 MILLION IN THIRD QUARTER DEARBORN, Mich., Oct. 18, 2000 -- Ford Motor Company [NYSE: F] today reported third quarter net income of $888 million, or 53 cents per diluted share of common and Class B stock. A year ago, third quarter earnings from continuing operations were $959 million, or 78 cents per diluted share. The decrease in earnings of $71 million is more than explained by the impact of Firestone's ongoing tire recall. Without the Firestone tire recall, profits would have been a record in the third quarter. "Getting our customers onto good tires has been, and continues to be, more important than short-term profits," said Jac Nasser, Ford Motor Company president and chief executive officer. "This was a difficult quarter for our customers, our employees, our dealers and our shareholders and we are committed to quickly completing the Firestone tire recall. However, we also believe that these solid results demonstrate the underlying strength of our products and the company's strong fundamentals and we continue to press forward with our objective to become the world's leading consumer company for automotive products and services." AUTOMOTIVE OPERATIONS Ford Motor Company's worldwide automotive earnings were $391 million in the third quarter of 2000. This compares with earnings of $535 million in the third quarter of 1999. Worldwide {PAGE} -2- automotive revenues in the third quarter of 2000 were $33 billion, up $2 billion from a year ago. After-tax return on sales (ROS) was 1.2 percent in the third quarter, down 0.5 points from last year. Worldwide vehicle sales were 1.7 million, up 3 percent compared with 1.6 million in 1999. Automotive cash was $18.6 billion at the end of the quarter, following completion of the $5.7 billion VEP. Third quarter automotive cash was $23.7 billion a year ago. Net cash was $6.6 billion, down from $11.3 billion a year ago. North America: Automotive earnings were $769 million in the third quarter of 2000, down $98 million. Ford's ROS in North America was 3.3 percent, down 0.6 points from 1999. Total Ford Motor Company retail sales in the United States during the third quarter were a record one million. U.S. factory unit sales were one million, up 5 percent from the same period a year ago. The sales pace was aided by the strong performance of the Ford Focus, F-Series and Explorer Sport Trac. In addition, several economic factors continued to support a healthy level of sales, including job and income growth and attractive vehicle pricing. Other Automotive Operations: Third quarter results in Ford Motor Company's other automotive operations, including Europe, South America and Asia-Pacific, totaled a loss of $378 million, compared with a loss of $332 million a year ago. FORD CREDIT Ford Credit earned $386 million in the third quarter of this year, up $69 million, or 22 percent, from a year ago. Return on equity was 12.9 percent, up 1.5 percentage points from a year ago. HERTZ The Hertz Corporation [NYSE: HRZ] earned a record $143 million in the third quarter of 2000, compared with $139 million a year ago. Ford Motor Company's share of Hertz' third-quarter 2000 earnings was $116 million. # # # {PAGE} {TABLE} {CAPTION} Ford Motor Company and Subsidiaries HIGHLIGHTS ---------- Third Quarter Nine Months ---------------------------- --------------------------- 2000 1999 2000 1999 ------------ ------------ ------------ ------------ (unaudited) (unaudited) {S} {C} {C} {C} {C} Worldwide vehicle unit sales of cars and trucks (in thousands) - North America 1,104 1,050 3,724 3,507 - Outside North America 550 549 1,839 1,795 ------ ------ ------ ------ Total 1,654 1,599 5,563 5,302 ====== ====== ====== ====== Sales and revenues (in millions) - Automotive $ 32,582 $ 30,645 $ 106,123 $ 97,788 - Financial Services 7,482 6,635 21,354 18,948 --------- --------- --------- --------- Total $ 40,064 $ 37,280 $ 127,477 $ 116,736 ========= ========= ========= ========= Net income (loss) (in millions) - Automotive $ 391 $ 535 $ 2,995 $ 3,632 - Financial Services 497 424 1,338 1,159 --------- --------- --------- --------- Income from continuing operations 888 959 4,333 4,791 - Discontinued operation (Visteon) - 155 309 640 - Loss on spin-off of Visteon - - (2,252) - --------- --------- --------- --------- Total $ 888 $ 1,114 $ 2,390 $ 5,431 ========= ========= ========= ========= Capital expenditures (in millions) - Automotive $ 1,932 $ 1,812 $ 4,884 $ 4,521 - Financial Services 102 150 565 435 --------- --------- --------- --------- Total $ 2,034 $ 1,962 $ 5,449 $ 4,956 ========= ========= ========= ========= Automotive capital expenditures as a percentage of sales 5.9% 5.9% 4.6% 4.6% 240510	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Earns $888 Million in Third Quarter: Ford Motor Co – photographs. IMMEDIATE RELEASE FORD EARNS $888 MILLION IN THIRD QUARTER DEARBORN, Mich., Oct. 18, 2000 -- Ford Motor Co mpany [NYSE: F] today reported third quarter net income of $888 million, or 53 cents Ford Motor Co – has been, and continues to be, more important than short-term profits," said Jac Nasser, Ford Motor Co mpany president and chief executive officer. "This was a difficult quarter for our customers, our Ford Motor Co – to become the world's leading consumer company for automotive products and services." AUTOMOTIVE OPERATIONS Ford Motor Co mpany's worldwide automotive earnings were $391 million in the third quarter of 2000. This Ford Motor Co – ROS in North America was 3.3 percent, down 0.6 points from 1999. Total Ford Motor Co mpany retail sales in the United States during the third quarter were a record one Ford Motor Co – job and income growth and attractive vehicle pricing. Other Automotive Operations: Third quarter results in Ford Motor Co mpany's other automotive operations, including Europe, South America and Asia-Pacific, totaled a loss dt 66531 ;	Ford Motor Land Ford Motor Land Development Corp. ( Real Estate ) As referenced in this Ford Earns $888 Million in Third Quarter: Ford Motor Land Development – are included in Auto Sector total assets. "Other Financial Services" data is an aggregation of miscellaneous smaller Financial Services Sector business components, including Ford Motor Land Development Corporation, Ford Leasing Development Company, Ford Leasing Corporation and Granite Management Corporation. "Eliminations/Other" data includes intersegment eliminations and minority interests. Interest _____________ dt 123431
Preview Full Doc	2000	Ford to Acquire Remainder of Hertz Ford to Acquire Remainder of Hertz (2K) Doc #240512: Click preview link for longer preview. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} News Contact: Media Inquiries Securities Analysts Shareholder Inquiries Karen Hampton Mike Holland 800-555-5259 or 313-594-4410 313-323-8221 313-845-8540 FOR IMMEDIATE RELEASE FORD TO ACQUIRE REMAINDER OF HERTZ DEARBORN, Mich., Sept. 21, 2000 - Ford Motor Company [NYSE: F] announced today that it has proposed to acquire the 18.5 percent of The Hertz Corporation [NYSE: HRZ] outstanding stock that the automaker does not already own through a merger transaction. In the proposed merger, the public shareholders of Hertz would receive $30 for each share of Hertz Class A common stock they own. The $30 per share price represents a premium of approximately 24 percent over the Sept. 20 closing price for Hertz stock as listed on the New York Stock Exchange Composite Index. "Since the Hertz IPO in 1997, we have intensified our focus on becoming the world's leading consumer company for automotive products and services," said Henry Wallace, Ford Motor Company chief financial officer. "Hertz is one of the world's strongest brands and an integral part of this focus. Acquiring the minority interest will support this strategy and enhance the operating flexibility between us and Hertz." ______________________________________________________________________________ Media Information Center, Telephone: 1.800.665.1515 or 1.313.621.0504; Fax: 1.313.845.7512 Email: media@ford.com; Internet: http://media.ford.com {PAGE} -2- Ford's proposal is subject to approval of the Hertz board of directors, the board's favorable recommendation to Hertz shareholders and the negotiation, execution and performance of a definitive merger agreement. Ford is being advised by J.P. Morgan & Co., Inc. on the proposed merger transaction. # # # Investors are urged to read the relevant documents that will be filed with the U.S. Securities and Exchange Commission by Ford and/or Hertz if the proposed merger transaction proceeds. Investors will be able to obtain a free copy of the documents filed with the SEC at http://www.sec.gov. Investors also will be able to obtain a free copy of the relevant documents by contacting Ford Motor Company by mail at Shareholder Relations, One American Road, Dearborn, MI 48126-2798, by phone at (800) 555-5259 (within the U.S. and Canada) or (313) 845-8540 (outside the U.S. and Canada), or by email at stockinf@ford.com. {/TEXT} {/DOCUMENT} 240512	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford to Acquire Remainder of Hertz: Ford Motor Co – 8540 FOR IMMEDIATE RELEASE FORD TO ACQUIRE REMAINDER OF HERTZ DEARBORN, Mich., Sept. 21, 2000 - Ford Motor Co mpany [NYSE: F] announced today that it has proposed to acquire the 18.5 percent Ford Motor Co – becoming the world's leading consumer company for automotive products and services," said Henry Wallace, Ford Motor Co mpany chief financial officer. "Hertz is one of the world's strongest brands and an Ford Motor Co – also will be able to obtain a free copy of the relevant documents by contacting Ford Motor Co mpany by mail at Shareholder Relations, One American Road, Dearborn, MI 48126-2798, by phone dt 66533
Full Doc	2000	Ford to Complete $10 Billion Distribution To Shareholders Through Repurchase Plan Ford to Complete $10 Billion Distribution To Shareholders Through Repurchase Plan (2K) Doc #240517: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} [OBJECT OMITTED] News Contact: Media Inquiries Securities Analysts Shareholder Inquiries Christian Vinyard Mike Holland 800-555-5259 or 313-323-7045 313-323-8221 313-845-8540 IMMEDIATE RELEASE FORD TO COMPLETE $10 BILLION DISTRIBUTION TO SHAREHOLDERS THROUGH REPURCHASE PLAN DEARBORN, Mich., Sept. 14, 2000 -- The Ford Motor Company Board of Directors today approved a repurchase plan of up to $5 billion of common and Class B stock. Today's action adds to the original plan to distribute up to $10 billion in cash to shareholders. The shares would be repurchased periodically in the open market with the plan expected to be concluded substantially by the close of 2001. "Today's action goes beyond what we announced in April," said Henry Wallace, group vice president and chief financial officer. "At that time, we said we were committed to distributing $10 billion in cash to our shareholders. The Value Enhancement Plan has been completed successfully, and shareholders elected to receive a total of $5.7 billion. Now, based on our confidence and our financial strength, we have increased the total planned cash distribution by $700 million," Wallace said. * * * Wallace also noted that the annual dividend rate prior to the Value Enhancement Plan was $2 per common and Class B share. Ford has calculated that an annual dividend of $1.14 would preserve the total cash payout to shareholders who elected the all-stock option under the Value Enhancement Plan. Under that option, shareholders received 1.748 shares for each share of common and Class B stock they owned. Ford common and Class B shares now outstanding total 1.89 billion. Actual fourth-quarter dividends will be declared by the board of directors in October for payment in December. {PAGE} -2- The stock repurchase plan is in addition to the ongoing anti-dilutive share repurchase program. That program began in 1998 and is designed primarily to offset the exercise effect of stock options. # # # 9-14-00 {/TEXT} {/DOCUMENT} 240517	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford to Complete $10 Billion Distribution To Shareholders Through Repurchase Plan: Ford Motor Co – COMPLETE $10 BILLION DISTRIBUTION TO SHAREHOLDERS THROUGH REPURCHASE PLAN DEARBORN, Mich., Sept. 14, 2000 -- The Ford Motor Co mpany Board of Directors today approved a repurchase plan of up to $5 billion of dt 66538
Full Doc	2000	Ford Completes $5.7 Billion Value Enhancement Plan Ford Completes $5.7 Billion Value Enhancement Plan (1K) Doc #240521: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} News Contact: Kristen Kinley 313-390-1759 IMMEDIATE RELEASE FORD COMPLETES $5.7 BILLION VALUE ENHANCEMENT PLAN DEARBORN, Mich., August 7, 2000 - Ford Motor Company [NYSE: F] confirmed today that $5.7 billion in cash will be distributed to its shareholders through the company's Value Enhancement Plan (VEP). The total number of new Ford common and Class B shares outstanding will be 1.893 billion. Under the VEP, Ford shareholders exchanged each of their old Ford common or Class B shares for one new Ford common or Class B share, as the case may be, plus either $20 in cash (Option 1), 0.748 additional new Ford common shares (Option 2), or a combination of $5.17 in cash and 0.555 additional new Ford common shares (Option 3). These amounts were based on the volume weighted average price of Ford stock of $46.7317 for the period July 24-28. Ford shareholders approved the VEP Aug. 2. The company plans to credit the new Ford stock to shareholder accounts and distribute cash beginning tomorrow. The new Ford Motor Company stock [NYSE: F] has been approved for listing and will be available for regular way trading beginning Aug. 9 on the New York Stock Exchange. # # # _______________________________________________________________________________ Financial News, The American Road, Dearborn, MI 48121-1899 Telephone: 313-594-4410; Fax: 313-594-3494 E-Mail: khampto2@ford.com; Internet: http://media.ford.com {/TEXT} {/DOCUMENT} 240521	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Completes $5.7 Billion Value Enhancement Plan: Ford Motor Co – IMMEDIATE RELEASE FORD COMPLETES $5.7 BILLION VALUE ENHANCEMENT PLAN DEARBORN, Mich., August 7, 2000 - Ford Motor Co mpany [NYSE: F] confirmed today that $5.7 billion in cash will be distributed to Ford Motor Co – credit the new Ford stock to shareholder accounts and distribute cash beginning tomorrow. The new Ford Motor Co mpany stock [NYSE: F] has been approved for listing and will be available for regular dt 66541
Full Doc	2000	Ford Earns $2.7 Billion Before Charges in Second Quarter Ford Earns $2.7 Billion Before Charges in Second Quarter (64K) Doc #240536: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} News Release Contact: Media Inquiries Securities Analysts Shareholder Inquiries Karen Hampton Mike Holland 800-555-5259 or 313-594-4410 313-323-8221 313-845-8540 FOR RELEASE AT 7 A.M. (EASTERN DAYLIGHT) FORD EARNS $2.7 BILLION BEFORE CHARGES IN SECOND QUARTER 17th Consecutive Quarter Of Operating Earnings Improvement New Records For Operating Profits, Revenues And Vehicle Sales DEARBORN, Mich., July 19, 2000 -- Ford Motor Company [NYSE: F] posted its 17th consecutive quarter of improved operating earnings in the second quarter with a record $2.7 billion, or $2.20 per diluted share of common and Class B stock, up 10 percent. The results compare with second quarter operating earnings in 1999 of $2.48 billion, or $2.00 per diluted share. As previously announced, Ford posted after-tax one-time charges in the second quarter for asset impairments and restructuring costs in Europe totaling $1 billion (83 cents per share) and the spin-off of Visteon totaling $2.3 billion ($1.84 per share). Including these charges, Ford's after-tax net result was a loss of $577 million, or 47 cents per share. During the same period in 1999, Ford took an after-tax one-time charge of $146 million, or 11 cents a share, related to the acquisition of Volvo Car. Including this charge, Ford's second quarter 1999 net income totaled $2.34 billion or $1.89 a share. Second-quarter revenues were a record $44.5 billion, up 6 percent from $41.9 billion in the second quarter of 1999. ______________________________________________________________________________ Financial News, The American Road, Dearborn, MI 48121-1899 Telephone: 313-594-4410; Fax: 313-594-3494 E-Mail: khampto2@ford.com; Internet: http://media.ford.com {PAGE} -2- "A strong overall product lineup and new hit products are driving our strong operating earnings momentum," said Jac Nasser, Ford Motor Company president and chief executive officer. "In addition, we are accelerating the transformation of Ford Motor Company, evidenced by the deployment of consumer-driven Six Sigma, our many e-business initiatives, our purchase of Land Rover, the difficult but decisive actions in Europe and the spin-off of Visteon Corporation." On June 28, Visteon Corporation [NYSE: VC] became an independent company through a 100 percent distribution of Visteon stock to Ford shareholders. Visteon's second quarter earnings were reported separately yesterday and are included in Ford Motor Company's overall results as a discontinued operation, but excluded from the company's automotive results. AUTOMOTIVE OPERATIONS Ford Motor Company's worldwide automotive operating earnings were $2.1 billion in the second quarter, up 15 percent from the same period a year ago. Worldwide automotive revenues in the second quarter were $37.4 billion, up 5 percent compared with a year ago. Operating after-tax return on sales (ROS) was 5.6 percent, up half a point from last year's second quarter. Worldwide vehicle unit sales were a record 1.99 million, compared with 1.93 million a year ago. Automotive cash was a record $25.6 billion at the end of the quarter, up $3.2 billion from the same period last year, excluding Visteon. Net cash was $14.8 billion, up $3.5 billion from a year ago. North America: Automotive operations in North America earned an operating record $1.8 billion in the second quarter of 2000, up $127 million from the same period a year ago. After-tax ROS was 6.7 percent. {PAGE} -3- Total Ford Motor Company factory unit sales in the United States during the second quarter were up 5 percent from the same period a year ago to a record 1.19 million units. The strong sales pace was aided by the continued strong performance of the Ford Focus, Ford F-Series, Ford Explorer, Ford Expedition, Lincoln LS, Jaguar S-Type, Volvo S40 and Volvo V70. Overseas Operations: Second quarter automotive operating earnings in Ford Motor Company's overseas operations, including Europe, South America and Asia-Pacific, totaled $228 million, up $147 million from the same period a year ago. Excluding one-time charges, automotive operating earnings in Europe in the second quarter were $156 million, compared with $206 million in the same period a year ago. "With our plan in place to improve efficiency, reduce capacity and fixed costs, and accelerate our product offensive with 45 significant new products over the next five years, we are confident our European operations are driving toward sustained profitable growth," said Nasser. FORD CREDIT: Ford Credit earned $388 million in the second quarter, up 16 percent from the second quarter of 1999. Return on equity was 13.4 percent, up 1.1 percentage points from a year ago. HERTZ: On July 14, the Hertz Corporation [NYSE: HRZ] announced record earnings of $104 million in the second quarter, up 18 percent. Ford Motor Company's share of Hertz' second-quarter earnings was $84 million. {PAGE} -4- DELIVERING SHAREHOLDER VALUE: "We have laid the groundwork for continued growth and success with our consumer focus, major product initiatives and restructuring actions," said Nasser. "This along with our strong earnings and cash flow momentum will allow the Company to continue to reward its shareholders." In August, Ford Motor Company shareholders will vote on the company's Value Enhancement Plan (VEP). Under the VEP, Ford shareholders will exchange their current Ford common or Class B shares for new common or Class B shares, plus additional new Ford shares or cash up to $10 billion total. # # # {PAGE} {TABLE} {CAPTION} Ford Motor Company and Subsidiaries HIGHLIGHTS ---------- Second Quarter First Half ---------------------------- --------------------------- 2000 1999 2000 1999 240536	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Earns $2.7 Billion Before Charges in Second Quarter: Ford Motor Co – Improvement New Records For Operating Profits, Revenues And Vehicle Sales DEARBORN, Mich., July 19, 2000 -- Ford Motor Co mpany [NYSE: F] posted its 17th consecutive quarter of improved operating earnings in the second Ford Motor Co – lineup and new hit products are driving our strong operating earnings momentum," said Jac Nasser, Ford Motor Co mpany president and chief executive officer. "In addition, we are accelerating the transformation of Ford Ford Motor Co – Motor Company president and chief executive officer. "In addition, we are accelerating the transformation of Ford Motor Co mpany, evidenced by the deployment of consumer-driven Six Sigma, our many e-business initiatives, Ford Motor Co – Ford shareholders. Visteon's second quarter earnings were reported separately yesterday and are included in Ford Motor Co mpany's overall results as a discontinued operation, but excluded from the company's automotive Ford Motor Co – results as a discontinued operation, but excluded from the company's automotive results. AUTOMOTIVE OPERATIONS Ford Motor Co mpany's worldwide automotive operating earnings were $2.1 billion in the second quarter, up dt 66555 ; Ford Motor Land Ford Motor Land Development Corp. ( Real Estate ) As referenced in this Ford Earns $2.7 Billion Before Charges in Second Quarter: Ford Motor Land Development – is included in Auto Sector total assets. "Other Financial Services" data is an aggregation of miscellaneous smaller Financial Services Sector business components, including Ford Motor Land Development Corporation, Ford Leasing Development Company, Ford Leasing Corporation and Granite Management Corporation. "Eliminations/Other" data includes intersegment eliminations and minority interests. Interest _____________ dt 123435 ;	Visteon Visteon Corp. ( Auto & Truck Parts ) As referenced in this Ford Earns $2.7 Billion Before Charges in Second Quarter: Visteon Corp – Sigma, our many e-business initiatives, our purchase of Land Rover, the difficult but decisive actions in Europe and the spin-off of Visteon Corp oration." On June 28, Visteon Corporation [NYSE: VC] became an independent company through a 100 percent distribution of Visteon stock to Ford shareholders. _____________ Visteon Corp – initiatives, our purchase of Land Rover, the difficult but decisive actions in Europe and the spin-off of Visteon Corporation." On June 28, Visteon Corp oration [NYSE: VC] became an independent company through a 100 percent distribution of Visteon stock to Ford shareholders. Visteon's second quarter earnings _____________ Visteon Corp – present period presentation. 2. Discontinued Operation - On April 12, 2000, the Ford Board of Directors approved a plan for the complete separation of Visteon Corp oration from Ford by means of a tax-free spin-off in the form of a dividend on Ford Common and Class B _____________ dt 152121
Preview Full Doc	2000	Ford Provides Detail on Second Quarter Charges Ford Provides Detail on Second Quarter Charges (2K) Doc #240538: Click preview link for longer preview. {DOCUMENT} {TYPE}EX-20 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 20 {TEXT} News Release Contact: Media Inquiries Securities Analysts Shareholder Inquiries Karen Hampton Mike Holland 800-555-5259 or 313-594-4410 313-323-8221 313-845-8540 FOR IMMEDIATE RELEASE FORD PROVIDES DETAIL ON SECOND QUARTER CHARGES DEARBORN, Mich., July 13, 2000 - Ford Motor Company [NYSE: F] today disclosed detail on the one-time charges it will incur in the second quarter of 2000. Visteon Independence: Ford Motor Company will post an after-tax charge of approximately $2.3 billion related to the distribution of the company's 100 percent interest in Visteon Corporation [NYSE: VC] to Ford shareholders on June 28. This amount reflects the difference between the carrying value of Ford's net investment in Visteon and the market value of Visteon stock on the date of distribution. "Visteon's independence from Ford allows both organizations to focus on their core businesses," said Jac Nasser, president and chief executive officer of Ford Motor Company. "Visteon now can accelerate growth and become stronger by competing for business across the entire industry." European Charges: The company will post an after-tax charge of approximately $1 billion, approximately $1.6 billion before taxes, related to an extensive business review of the Ford brand operations in Europe that was announced in May. The pre-tax European charges include asset impairments of approximately $1.1 billion as well as restructuring costs of $468 million, including employee separations and other exit related costs. _______________________________________________________________________________ Financial News, The American Road, Dearborn, MI 48121-1899 Telephone: 313-594-4410; Fax: 313-594-3494 E-Mail: khampto2@ford.com; Internet: http://media.ford.com {PAGE} -2- "With the plan in place to improve efficiency and reduce overcapacity as well as fixed costs, and the acceleration of an extraordinary product offensive representing 45 significant new products over the next five years, we are confident our European operations are driving toward sustained profitable growth," said Nasser. The after-tax aggregate amount of these charges is expected to be approximately $3.3 billion or approximately $2.70 per diluted common and Class B share. These charges will be reflected in Ford Motor Company's second quarter results, which will be released at 7 a.m. July 19. # # # {/TEXT} {/DOCUMENT} 240538	Ford Motor Ford Motor Co. ( Auto & Truck Manufacturers ) As referenced in this Ford Provides Detail on Second Quarter Charges: Ford Motor Co – FOR IMMEDIATE RELEASE FORD PROVIDES DETAIL ON SECOND QUARTER CHARGES DEARBORN, Mich., July 13, 2000 - Ford Motor Co mpany [NYSE: F] today disclosed detail on the one-time charges it will incur in Ford Motor Co – the one-time charges it will incur in the second quarter of 2000. Visteon Independence: Ford Motor Co mpany will post an after-tax charge of approximately $2.3 billion related to the Ford Motor Co – to focus on their core businesses," said Jac Nasser, president and chief executive officer of Ford Motor Co mpany. "Visteon now can accelerate growth and become stronger by competing for business across the Ford Motor Co – 2.70 per diluted common and Class B share. These charges will be reflected in Ford Motor Co mpany's second quarter results, which will be released at 7 a.m. July 19. # # # {/ dt 66557 ; Visteon Visteon Corp. ( Auto & Truck Parts ) As referenced in this Ford Provides Detail on Second Quarter Charges: Visteon Corp – will post an after-tax charge of approximately $2.3 billion related to the distribution of the company's 100 percent interest in Visteon Corp oration [NYSE: VC] to Ford shareholders on June 28. This amount reflects the difference between the carrying value of Ford's net investment _____________ dt 152122 ; Karen Hampton;	Mike Holland; Jac Nasser
Full Doc	2000	Kroger Reports 17% Increase in Earnings per Share, Before One-Time Items, for Third Quarter Kroger Reports 17% Increase in Earnings per Share, Before One-Time Items, for Third Quarter (30K) Doc #253261: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}l85260aex99-1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 17% INCREASE IN EARNINGS PER SHARE, BEFORE ONE-TIME ITEMS, FOR THIRD QUARTER Profit Growth Driven by Higher Margins, Solid Corporate Brand Sales and Synergies CINCINNATI, OH, December 5, 2000 -- The Kroger Co. (NYSE: KR) today reported earnings of $0.28 per diluted share, excluding costs related to mergers and one-time expenses, for the third quarter ended November 4, 2000. These results represent an increase of 17% over the third quarter of 1999. Total sales for the third quarter increased 6.1% to $11.0 billion. Food store sales also rose 6.1%. Comparable food store sales, which include relocations and expansions, rose 1.9% for the quarter, while identical food store sales rose 1.4%. EBITDA (earnings before interest, taxes, depreciation, amortization, LIFO and one-time items) for the third quarter of fiscal 2000 totaled $757 million, an increase of 10.2% from a year ago. "We are pleased with our strong earnings performance in the third quarter," said Joseph A. Pichler, Kroger chairman and chief executive officer. "Kroger now has met or exceeded its earnings per share growth goal for 15 consecutive quarters." Among the financial highlights of the third quarter: o Gross profit margin, without one-time expenses and excluding the LIFO charge, increased 10 basis points to 26.58% 1 {PAGE} 2 o Operating, general and administrative (OG&A) costs, on this basis, declined 4 basis points to 18.28% as the Company began to realize the benefits of technology and productivity initiatives o Estimated combined synergy savings reached an annual run rate of $294 million - well above the Company's original goal of $260 million for all of fiscal 2000. As previously announced, Kroger expects to achieve its total synergy savings goal of $380 million in fiscal 2001, a full year earlier than originally projected. Mr. Pichler said the Company's corporate brand products continued to perform well in the third quarter. In October, Kroger officially launched Private Selection(R), its own brand of nearly 300 premium-quality grocery, meat, deli and seafood items. These are now available exclusively at the Company's 2,343 food stores in 31 states. In addition, Kroger recently introduced Naturally Preferred(TM), its premium brand of all-natural vitamins, herbs and other products that will be available in all Company-owned stores by year-end. In all, Kroger introduced more than 480 corporate brand items during the third quarter. Mr. Pichler also said Kroger continued to make solid progress in reducing net working capital. Net working capital totaled $302 million, a decrease of $85 million from the end of the third quarter of 1999, when the Company set a goal of reducing working capital by at least $500 million over five years. Kroger repurchased approximately 4.7 million shares of its common stock during the third quarter at an average price of $21.84 per share, for a total investment of approximately $103 million. During the first three quarters of fiscal 2000, the Company repurchased approximately 20.8 million shares of its common stock at an average price of $19.93 per share, for a total investment of approximately $414 million. Net total debt was $8.4 billion, a decline of $364 million from the third quarter of 1999 as a result of strong free cash flow from operations and the improvement in net working capital. 2 {PAGE} 3 "This debt reduction is especially noteworthy given the magnitude of our stock repurchase program this year," Mr. Pichler said. On a related note, both Moody's Investors Service and Standard & Poor's recently upgraded their ratings outlook for Kroger from "stable" to "positive" based on the Company's operating and financial performance since the merger. During the third quarter of 2000, Kroger opened, expanded, relocated or acquired 35 food stores, as compared to 104 in the third quarter of 1999 when the Company completed the acquisition of 27 Jay C Food Stores and 35 stores from Albertson's. Overall square footage in the third quarter increased 4.8% over the prior year. Excluding acquisitions and operational closings, square footage rose 4.3%. Excluding only acquisitions, square footage rose 2.9%. Capital expenditures for the quarter totaled $400 million. Kroger incurred merger-related and one-time expenses of $34.5 million pre-tax in the third quarter. Of this amount, $20.5 million was non-cash and $14.0 million was cash. The Company expects these costs for the remainder of the year to be in the range of $15-$30 million primarily as a result of the conversion of the Fred Meyer Marketplace stores in Arizona to the Fry's banner and the ongoing consolidation of information system platforms. For the first three quarters of 2000, Kroger reported earnings of $0.88 per diluted share, excluding costs related to mergers and one-time expenses. These results represent an increase of 19% over the first three quarters of 1999, before an extraordinary item. Total sales in the first three quarters of 2000 increased 6.4% to $36.3 billion. EBITDA totaled $2.5 billion for the first three quarters of 2000, an increase of 11.3% over the same period in 1999. For fiscal year 2000, Mr. Pichler said that he remains comfortable with the consensus estimate for earnings per share. Headquartered in Cincinnati, Ohio, Kroger is the nation's largest retail grocery chain. At the end of the third quarter, the Company operated 2,343 supermarkets and multi-department stores in 31 states under nearly two dozen banners, including Kroger, Fred Meyer, Ralphs, Smith's, King Soopers, Dillon, Fry's, City Market, Food 4 Less and Quality Food Centers. Kroger also operates 253261	Kroger Kroger Co. ( Grocery ) As referenced in this Kroger Reports 17% Increase in Earnings per Share, Before One-Time Items, for Third Quarter: Kroger Co – 99.1 {SEQUENCE}2 {FILENAME}l85260aex99-1.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co . (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 17% INCREASE IN EARNINGS PER SHARE, BEFORE _____________ Kroger Co – 99.1 {TEXT} {PAGE} 1 EXHIBIT 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co . (513) 762-4969 KROGER REPORTS 17% INCREASE IN EARNINGS PER SHARE, BEFORE ONE-TIME ITEMS, FOR THIRD QUARTER Profit Growth Driven by _____________ Kroger Co – TIME ITEMS, FOR THIRD QUARTER Profit Growth Driven by Higher Margins, Solid Corporate Brand Sales and Synergies CINCINNATI, OH, December 5, 2000 -- The Kroger Co . (NYSE: KR) today reported earnings of $0.28 per diluted share, excluding costs related to mergers and one-time expenses, for the _____________ Kroger co – owned stores by year-end. In all, Kroger introduced more than 480 corporate brand items during the third quarter. Mr. Pichler also said Kroger co ntinued to make solid progress in reducing net working capital. Net working capital totaled $302 million, a decrease of $85 million from the _____________ .kroger.co – quarterly conference call with investors will be broadcast live via the Internet at 11 a.m. (EST) on December 5, 2000 at www.kroger.co m and www.streetevents.com. An on-demand replay of the webcast will be available from 2 p.m. (EST) on December 5, _____________ dt 107500
Full Doc	2000	Kroger Reports 22% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter Kroger Reports 22% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter (17K) Doc #253271: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 Exhibit 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 22% INCREASE IN EARNINGS PER SHARE, BEFORE MERGER COSTS AND ONE-TIME EXPENSES, FOR FIRST QUARTER SYNERGY SAVINGS NEAR $200 MILLION CINCINNATI, OH, June 20, 2000 -- The Kroger Co. (NYSE: KR) today reported record earnings of $0.33 per diluted share, excluding costs related to mergers and one-time expenses, for the 16-week first quarter ended May 20, 2000. These results represent an increase of 22% over the first quarter of 1999. Total sales for the first quarter increased 6.2% to $14.3 billion. Excluding sales from divested stores, total sales increased 6.8%. Identical food store sales rose 1.3% for the quarter, while comparable food store sales, which include relocations and expansions, rose 1.8%. Excluding the Fry's division, which has converted 35 former Smith's stores to the Fry's banner, identical food store sales increased 1.4% and comparable food store sales rose 1.9%. EBITDA (earnings before interest, taxes, depreciation, amortization, LIFO and one-time items) for the first quarter of 2000 totaled a record $982 million, an increase of 11.7% from a year ago. "We are very pleased with our strong first-quarter earnings performance, " said Joseph A. Pichler, Kroger chairman and chief executive officer. "These results were driven by merger synergies including margin improvement from corporate-wide merchandising programs, growth in private-label sales, and outstanding results from our manufacturing plants." 1 {PAGE} 2 Estimated combined synergy savings from the merger with Fred Meyer and previous Fred Meyer mergers were $198 million at the end of the first quarter. This total represents an increase of $38 million from the end of fiscal 1999. Kroger remains on track to meet or exceed the combined synergy savings goals of $260 million in fiscal 2000, $345 million in fiscal 2001 and $380 million in fiscal 2002. "We are achieving synergy savings more quickly than initially projected. They contributed to an increase of 60 basis points in Kroger's gross profit margin," Mr. Pichler said. He also said Kroger made significant progress in reducing net working capital during the first quarter. Net working capital totaled $157 million, a decrease of $428 million from the end of fiscal 1999 and $197 million from the end of the third quarter of 1999, when the Company set a goal of reducing working capital by at least $500 million over five years. The Company also announced that it repurchased approximately 11.3 million shares of Kroger common stock during the first quarter at an average price of $18.52 per share, for a total of $209 million. Net total debt was $8.4 billion, a decrease of $355 million from year-end 1999 as a result of strong free cash flow from operations, including the improvement in net working capital. Compared to the first quarter of 1999, net total debt increased $77 million. During the first quarter of 2000, Kroger opened, expanded, relocated or acquired 57 stores. Overall square footage, excluding divested stores, increased 6.5% over the prior year. Excluding acquisitions, capital expenditures for the quarter totaled $455 million. During the first quarter, the Company incurred merger-related and one-time expenses of $280.4 million pre-tax, primarily consisting of asset write-downs in accordance with Statements of Financial Accounting Standards No. 121. Of this amount, $257.7 million was non-cash and $22.7 million was cash. 2 {PAGE} 3 For fiscal year 2000, Mr. Pichler said that he expects Kroger to increase earnings per share, before merger-related and one-time expenses, at the upper range of the 16-18% target for the year. Headquartered in Cincinnati, Ohio, Kroger is the nation's largest retail grocery chain. At the end of the first quarter, the Company operated 2,319 supermarkets and multi-department stores in 31 states under more than a dozen banners, including Kroger, Fred Meyer, Ralphs, Smith's, King Soopers, Dillon, Fry's, City Market, Food 4 Less and Quality Food Centers. Kroger also operates 792 convenience stores, 397 fine jewelry stores and 42 food processing plants. # # # This press release contains certain forward-looking statements about the future performance of the Company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. We assume no obligation to update the information contained herein. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements including, but not limited to, material adverse changes in the business or financial condition of Kroger and other factors affecting the businesses of the Company which are described in filings with the Securities and Exchange Commission. Note: Kroger's quarterly conference call with investors will be broadcast live via the Internet at 11 a.m. (EDT) on June 20, 2000 at www.kroger.com and www.streetevents.com. An on-demand replay of the webcast will be available from 2 p.m. (EDT) on June 20, 2000 through July 3, 2000. 3 {PAGE} 4 THE KROGER CO. CONSOLIDATED STATEMENT OF INCOME WITHOUT ONE-TIME ITEMS (in millions, except per share amounts) {TABLE} {CAPTION} FIRST QUARTER -------------------------- 2000 1999 --------- --------- {S} {C} {C} SALES $14,329.4 $13,493.1 COSTS AND EXPENSES: MERCHANDISE COSTS, INCLUDING ADVERTISING, WAREHOUSING AND TRANSPORTATION 10,486.8 9,956.9 253271	Kroger Kroger Co. ( Grocery ) As referenced in this Kroger Reports 22% Increase in Earnings per Share, Before Merger Costs and One-Time Expenses, for First Quarter: Kroger Co – EX-99.1 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}EXHIBIT 99.1 {TEXT} {PAGE} 1 Exhibit 99.1 Media Contact: Gary Rhodes, The Kroger Co . (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co. (513) 762-4969 KROGER REPORTS 22% INCREASE IN EARNINGS PER SHARE, BEFORE _____________ Kroger Co – 99.1 {TEXT} {PAGE} 1 Exhibit 99.1 Media Contact: Gary Rhodes, The Kroger Co. (513) 762-1304 Investor Contact: Kathy Kelly, The Kroger Co . (513) 762-4969 KROGER REPORTS 22% INCREASE IN EARNINGS PER SHARE, BEFORE MERGER COSTS AND ONE-TIME EXPENSES, FOR FIRST QUARTER SYNERGY _____________ Kroger Co – PER SHARE, BEFORE MERGER COSTS AND ONE-TIME EXPENSES, FOR FIRST QUARTER SYNERGY SAVINGS NEAR $200 MILLION CINCINNATI, OH, June 20, 2000 -- The Kroger Co . (NYSE: KR) today reported record earnings of $0.33 per diluted share, excluding costs related to mergers and one-time expenses, for _____________ Kroger co – working capital by at least $500 million over five years. The Company also announced that it repurchased approximately 11.3 million shares of Kroger co mmon stock during the first quarter at an average price of $18.52 per share, for a total of $209 million. Net total _____________ .kroger.co – quarterly conference call with investors will be broadcast live via the Internet at 11 a.m. (EDT) on June 20, 2000 at www.kroger.co m and www.streetevents.com. An on-demand replay of the webcast will be available from 2 p.m. (EDT) on June 20, _____________ dt 107508
Full Doc	2000	Correction -- Carramerica Announces 12% FFO Growth per Share in Third Quarter 2000 Correction -- Carramerica Announces 12% FFO Growth per Share in Third Quarter 2000 (37K) Doc #255031: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}REGULATION FD DISCLOSURE {TEXT} {PAGE} Immediate Karen L. Widmayer: Media Contact (202) 729-1789 Stephen Walsh: Analyst Contact (202) 729-1764 CORRECTION -- CARRAMERICA ANNOUNCES 12% FFO GROWTH PER SHARE IN THIRD QUARTER 2000 Washington D.C. - November 3, 2000 - CarrAmerica Realty Corporation (NYSE:CRE) today reported third quarter Funds From Operations (FFO) from continuing operations of $56.3 million or $.75 per diluted share, a 12% increase over the same period in 1999. FFO for the nine month period ended September 30, 2000 was $165.3 million or $2.22 per diluted share as compared to $143.1 million or $1.90 per diluted share for the same period in 1999, a 17% increase. CarrAmerica President and Chief Executive Officer, Thomas A. Carr, commented, "Our property level performance continues to be strong and we have achieved added financial flexibility this year with the successful execution of our capital plan." Mr. Carr continued, "We believe CarrAmerica is very well positioned to grow our business in the coming year." Same Store Occupancy Exceeds 97%; Rental Rate Growth Reaches 40% ---------------------------------------------------------------- Performance of operating properties remains strong with an average occupancy of 97.1% at September 30, 2000. Property net operating income was $91.9 million for the third quarter, up 6% from the same period in 1999. Same store portfolio operating income during the quarter grew 6.6% on a GAAP basis and 7.0% on a cash basis over the same period in 1999. The occupancy rate for same store properties was 97.1% in the third quarter of 2000 as compared to 96.5% for third quarter 1999. Rental rates increased 40% on average on the rolling leases executed during the nine-month period ended September 30, 2000. Development Update ------------------ As of September 30, 2000, CarrAmerica and its affiliate, CarrAmerica Development, Inc., had approximately 796,000 square feet of wholly owned projects under development in seven of the Company's markets. Total cost of this development is expected to be approximately $149 million, of which $79 -CONTINUED- {PAGE} CarrAmerica Release of November 6, 2000 Page Two million had been invested as of September 30, 2000. This development pipeline is currently 100% leased or committed and the year-one unleveraged return on CarrAmerica's invested capital is expected to be approximately 11.8%. CarrAmerica or its affiliates own a partial interest in nine development projects totaling 1.3 million square feet under development in Austin, Dallas, Denver and Washington, D.C. The total cost of these projects is expected to be $253 million and the projects are currently 68% leased or committed. CarrAmerica and its affiliate, CarrAmerica Development, Inc., expect to commence an additional $117 million of new development in the fourth quarter of 2000. CarrAmerica's share of the total project costs for these developments is approximately $75 million. During the third quarter, CarrAmerica and its affiliates placed in service approximately 208,746 square feet of new office space in wholly owned projects with total project costs of approximately $29.1 million at an expected year-one unleveraged return on invested capital of approximately 11.3%. In addition, 89,587 square feet were placed in service in partially owned projects in which CarrAmerica owns approximately 35% on average, with total project costs of $22.1 million, and an average yield of 10.5%. During the third quarter, 231,838 square feet of new leases were executed in development projects both wholly owned and within joint ventures. Major lease transactions include: {TABLE} {CAPTION} Tenant Property Market S.F. ----------------------------------- -------------------------- -------------- ------ {S} {C} {C} {C} AT&T Broadband Dry Creek Corporate Center Englewood, CO 92,356 Austin Ventures 300 W. Sixth Street Austin, TX 45,000 DGI Technologies Custer Court Dallas, TX 30,000 Health Insurance Assn. of America 1201 F Street Washington, DC 40,960 Icon Parkway North Deerfield, IL 20,071 {/TABLE} CarrAmerica Closes on Development Joint Venture ----------------------------------------------- As announced previously by the Company, in August 2000, CarrAmerica closed on an approximately $422 million development joint venture with New York State Teachers' Retirement System, including one building which will be contributed at a value of approximately $40 million upon obtaining certain approvals to the assumption of an existing $24 million mortgage. The properties were contributed or sold to the venture at a value of approximately $70 million over net book value. The venture encompasses five premium-quality suburban office parks in four high-growth markets totaling more than 2.5 million square feet of stabilized properties, 461,000 square feet of office projects now under development and land that can support approximately 1.5 million square feet of office space. The value of the venture is expected to increase to over $675 million when the remaining land is fully developed. CarrAmerica recognized a gain of approximately $20.1 million (after taxes and an accounting deferral) on the properties being sold or contributed to the joint venture. The operating properties were contributed or sold to the venture at an overall going in cap rate based on cash NOI of approximately 9.34%. Cash proceeds to CarrAmerica and its affiliates from the joint venture were approximately $250 million. CarrAmerica has used the proceeds to repay outstanding indebtedness, including $150 million of its unsecured notes that matured on October 1, 2000, and for other general corporate purposes including stock repurchases. The joint venture expects to place 50 to 60% debt on the operating assets in the first quarter of 2001, which would yield additional cash proceeds to CarrAmerica of approximately $75 million. CarrAmerica and its affiliates have retained a 35% interest in the venture. CarrAmerica's affiliates will also earn development, property management and leasing fees from the contributed properties. -CONTINUED- {PAGE} CarrAmerica Release of November 6, 2000 Page Three Dispositions ------------ 255031	CarrAmerica CarrAmerica Realty Corp. As referenced in this Correction -- Carramerica Announces 12% FFO Growth per Share in Third Quarter 2000: CarrAmerica Realty – Analyst Contact (202) 729-1764 CORRECTION -- CARRAMERICA ANNOUNCES 12% FFO GROWTH PER SHARE IN THIRD QUARTER 2000 Washington D.C. - November 3, 2000 - CarrAmerica Realty Corporation (NYSE:CRE) today reported third quarter Funds From Operations (FFO) from continuing operations of $56.3 million or $.75 per diluted share, _____________ CarrAmerica Realty – is being filed on ------------------- Form 8-K with the Securities and Exchange Commission. A copy is also available on request from: Stephen Walsh CarrAmerica Realty Corporation 1850 K Street, NW, Suite 500 Washington, D.C. 20006 (Telephone) 202-729-1764 (e-mail) swalsh@carramerica.com ---------------------- CarrAmerica owns, develops _____________ CARRAMERICA REALTY – and performance of affiliates or joint ventures that the Company may not control, governmental actions and initiatives, and environmental/safety requirements. -CONTINUED- {PAGE} CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets -------------------------------------------------------------------------------- (In thousands) {TABLE} {CAPTION} September 30, December 31, 2000 1999 ------------- ------------ (unaudited) {S} {C} {C} Assets ------ Rental Property: _____________ CARRAMERICA REALTY – excess of net income (104,845) (131,038) ---------- ---------- 1,674,896 1,686,715 ---------- ---------- $3,112,140 $3,479,072 ========== ========== {/TABLE} -CONTINUED- {PAGE} CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations -------------------------------------------------------------------------------- (In thousands, except per share amounts) {TABLE} {CAPTION} Three Months Ended Nine Months Ended September 30, _____________ CARRAMERICA REALTY – 634 and $9,362 of accrued straight-line rents for the nine month periods ended September 30, 2000 and 1999, respectively. -CONTINUED- {PAGE} CARRAMERICA REALTY CORPORATION AND SUBSIDIARIES Funds From Operations -------------------------------------------------------------------------------- The National Association of Real Estate Investment Trusts (NAREIT) defines funds from operations ("FFO") as net income ( _____________ dt 110916
Full Doc	2000	Press Release Press Release (1K) Doc #259902: This document is immediately available for purchase, but does not have a preview available for viewing. {DOCUMENT} {TYPE}EX-3.3 {SEQUENCE}4 {FILENAME}0004.txt {DESCRIPTION}PRESS RELEASE {TEXT} {PAGE} 1 EXHIBIT 3.3 CONTACT: JOSEPH MACNOW (201) 587-1000 Park 80 West, Plaza II Saddle Brook, NJ 07663 MAY 26, 2000 SADDLE BROOK, NEW JERSEY.....VORNADO REALTY TRUST (NYSE:VNO) today announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has sold $180 million of 8.25% Series D-7 Cumulative Redeemable Preferred Units to an institutional investor in a private placement, resulting in net proceeds of approximately $175.5 million. The perpetual Preferred Units may be called without penalty at the option of Vornado Realty L.P. commencing in May 2005. The securities have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Vornado Realty Trust is a fully-integrated equity real estate investment trust. Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors. ### {/TEXT} {/DOCUMENT} 259902	Vornado Realty Vornado Realty Trust ( Real Estate ) As referenced in this Press Release: .VORNADO REALTY TRUST – 3 CONTACT: JOSEPH MACNOW (201) 587-1000 Park 80 West, Plaza II Saddle Brook, NJ 07663 MAY 26, 2000 SADDLE BROOK, NEW JERSEY.....VORNADO REALTY TRUST (NYSE:VNO) today announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has sold $ _____________ Vornado Realty Trust – 26, 2000 SADDLE BROOK, NEW JERSEY.....VORNADO REALTY TRUST (NYSE:VNO) today announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has sold $180 million of 8.25% Series D-7 Cumulative Redeemable Preferred Units to an institutional investor in a _____________ Vornado Realty Trust – not be offered or sold except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Vornado Realty Trust is a fully-integrated equity real estate investment trust. Certain statements contained herein may constitute "forward-looking statements" within the meaning of the _____________ dt 133865
Preview Full Doc	2000	Omega Healthcare Announces Management Change Omega Healthcare Announces Management Change (3K) Doc #262483: Click preview link for longer preview. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}PRESS RELEASE DATED JULY 12, 2000 {TEXT} PRESS RELEASE - FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT F. Scott Kellman, Chief Operating Officer, or Susan Allene Kovach, Vice President and General Counsel, at 734/887-0200 OMEGA HEALTHCARE ANNOUNCES MANAGEMENT CHANGE ANN ARBOR, MICHIGAN - July 12, 2000--Omega Healthcare Investors, Inc. (NYSE: OHI) today announced that, upon completion of the $100.0 million equity investment by Explorer Holdings, L.P., Essel W. Bailey, Jr., will retire as Chairman, CEO, President and a member of the Company's Board of Directors. Bernard J. Korman, who has been a member of the Omega Board of Directors since 1993, will serve as Chairman and acting Chief Executive Officer while the Company takes appropriate steps to identify and recruit a new chief executive officer. The other executive officers of the Company, F. Scott Kellman, Susan Allene Kovach and Laurence D. Rich will continue in their present roles to provide the Company's day-to-day leadership. "We are all grateful for the leadership and creativity that Essel has provided in guiding Omega through a difficult time and a complex transaction. We are pleased that he will continue to be available to Omega as a consultant," said Korman. "Omega's current financial challenges are the by-product of unprecedented financial difficulties in the long-term care industry. With the expected completion in the next week of Explorer's investment and Omega's new borrowing facility with Fleet Bank, the Company will be well positioned to move forward and take advantage of growth opportunities," said Bailey. Omega also announced that Explorer has reaffirmed its commitment to consummating its investment in Omega, which is expected to be completed following the Special Meeting of Stockholders on Friday, July 14, 2000. The record date for determining stockholders entitled to receive notice of and to vote at the special meeting is the close of business on June 2, 2000. The proxy materials are available on the SEC website at http://www.sec.gov and also may be obtained by contacting the Company's proxy solicitor, Georgeson & Co., at 800/223-2064. Omega is a Real Estate Investment Trust investing in and providing financing to the long-term care industry. At March 31, 2000, it owned or had mortgages on 278 healthcare and assisted living facilities with more than 28,000 beds located in 29 states and operated by 26 independent healthcare operating companies. This news release contains forward-looking statements that involve risks and uncertainties described from time to time in the SEC reports filed by the Company. # # # {/TEXT} {/DOCUMENT} 262483	Omega Healthcare Omega Healthcare Investors Inc. ( Real Estate ) As referenced in this Omega Healthcare Announces Management Change: -Omega Healthcare Investors, – Susan Allene Kovach, Vice President and General Counsel, at 734/887-0200 OMEGA HEALTHCARE ANNOUNCES MANAGEMENT CHANGE ANN ARBOR, MICHIGAN - July 12, 2000--Omega Healthcare Investors, Inc. (NYSE: OHI) today announced that, upon completion of the $100.0 million equity investment by Explorer Holdings, L.P., Essel W. _____________ dt 144860
Preview Full Doc	2000	Omega Healthcare Investors Announces Litigation; Update on Special Stockholder Meeting Omega Healthcare Investors Announces Litigation; Update on Special Stockholder Meeting (3K) Doc #262484: Click preview link for longer preview. {DOCUMENT} {TYPE}EX-99.1 {SEQUENCE}2 {FILENAME}0002.txt {DESCRIPTION}PRESS RELEASE DATED JUNE 29, 2000 {TEXT} PRESS RELEASE - FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT Essel W. Bailey, Jr., President and CEO, at (734) 887-0200 OMEGA HEALTHCARE INVESTORS ANNOUNCES LITIGATION; UPDATE ON SPECIAL STOCKHOLDER MEETING ANN ARBOR, MICHIGAN - JUNE 29, 2000 - Omega Healthcare Investors, Inc. (NYSE:OHI) ("Omega" or the "Company") announced today that a customer known as Madison/OHI Liquidity Investors, L.L.C., has filed a lawsuit alleging breach and anticipatory breach of a commercial contract. The principals of Madison/OHI are Bryan Gordon of Incline Village, Nevada and Ronald Dickerman of New York City. In addition, Mr. Dickerman has individually filed a separate action alleging violations of Section 10(b) of the Securities Exchange Act of 1934. The Company believes that each lawsuit is baseless and without merit and intends to assert its rights and to defend vigorously. Omega also announced that the solicitation of proxies for the upcoming July 14, 2000 Special Meeting of Stockholders is proceeding and urged all stockholders who have not voted to do so promptly. Essel W. Bailey, Jr., Omega's President and CEO, stated: "As explained in my June 15 letter to stockholders, Omega faces significant liquidity challenges arising from the combined impact of the current environment in the long-term care industry and the need to repay $81 million of debt due July 15, with an additional $48 million due February 2001. After careful analysis of a variety of alternatives, the Omega Board unanimously approved the Explorer investment and the new stock incentive plan which will replace our existing stock option plan. We urge stockholders who support the infusion to vote "FOR" both the proposals covered by our June 15, 2000 proxy statement, because the approval of both proposals is a condition to the equity infusion." The Company clarified that the options currently proposed to be awarded to management under the proposed new plan will be priced at the higher of fair market value or the effective per common share price of Explorer's investment. The record date for determining stockholders entitled to receive notice of and to vote at the special meeting is the close of business on June 2, 2000. The proxy materials are available on the SEC website at http://www.sec.gov and also may be obtained by contacting the Company's proxy solicitor, Georgeson & Co., at 800/223-2064. Omega is a Real Estate Investment Trust investing in and providing financing to the long-term care industry. At March 31, 2000, it owned or had mortgages on 278 healthcare and assisted living facilities with more than 28,000 beds located in 29 states and operated by 26 independent healthcare operating companies. This news release contains forward-looking statements that involve risks and uncertainties described from time to time in the SEC reports filed by the Company. # # # {/TEXT} {/DOCUMENT} 262484	Omega Healthcare Omega Healthcare Investors Inc. ( Real Estate ) As referenced in this Omega Healthcare Investors Announces Litigation; Update on Special Stockholder Meeting: OMEGA HEALTHCARE INVESTORS – 29, 2000 {TEXT} PRESS RELEASE - FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT Essel W. Bailey, Jr., President and CEO, at (734) 887-0200 OMEGA HEALTHCARE INVESTORS ANNOUNCES LITIGATION; UPDATE ON SPECIAL STOCKHOLDER MEETING ANN ARBOR, MICHIGAN - JUNE 29, 2000 - Omega Healthcare Investors, Inc. (NYSE:OHI) ("Omega" or the "Company") _____________ Omega Healthcare Investors, – President and CEO, at (734) 887-0200 OMEGA HEALTHCARE INVESTORS ANNOUNCES LITIGATION; UPDATE ON SPECIAL STOCKHOLDER MEETING ANN ARBOR, MICHIGAN - JUNE 29, 2000 - Omega Healthcare Investors, Inc. (NYSE:OHI) ("Omega" or the "Company") announced today that a customer known as Madison/OHI Liquidity Investors, L.L.C., has _____________ dt 144861
Preview Full Doc	2000	Notice of Extension of Offer Notice of Extension of Offer (1K) Doc #265699: Click preview link for longer preview. {DOCUMENT} {TYPE}EX-99.(A) {SEQUENCE}2 {FILENAME}d81574aex99-a.txt {DESCRIPTION}NOTICE OF EXTENSION OF OFFER {TEXT} {PAGE} 1 EXHIBIT (a) NOTICE OF EXTENSION OF OFFER CONTACT: River Oaks Partnership Services, Inc. (888) 349-2005 (toll free) FOR IMMEDIATE RELEASE DENVER, COLORADO, November 8, 2000. As previously announced, AIMCO/Bethesda Holdings Acquisitions, Inc. ("AIMCO/Bethesda") is tendering for all assignee units of limited partnership interest in Oxford Residential Properties I Limited Partnership, subject to the terms of its Offer to Purchase. AIMCO/Bethesda has extended the expiration date of its offer. The expiration date for the tender offer has been extended to 5:00 p.m., New York time, on Monday, November 27, 2000. The offer was previously scheduled to expire at 5:00 p.m. on November 7, 2000. AIMCO/Bethesda reported, based on information provided by the Information Agent for the offer, that as of the close of business on November 7, 2000 approximately 3,762 units had been tendered pursuant to the offer. For further information, please contact River Oaks Partnership Services, Inc. at (888) 349-2005 (toll free), which is acting as the Information Agent for the offer. {/TEXT} {/DOCUMENT} 265699	AIMCO Apartment Investment & Management Co.

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