Visteon Earns $155 Million in Third Quarter - Up 5 Percent

Dearborn, Mich. (PROTEXT) - Visteon Automotive Systems' netincome for the third quarter of 1999 was $155 million, up 5percent from the $148 million earned in the same quarter lastyear. Third quarter 1999 revenue was $4.6 billion, up 12 percentfrom year ago levels, with after-tax return on sales for thequarter at 3.6 percent. For the first nine months of 1999, net income was $640million, up 11 percent from 1998. Revenue for the first ninemonths was $14.4 billion, up 9 percent. After-tax return on salesfor the first nine months of 1999 was 4.5 percent, up from 4.3percent. During the first nine months of the year, Visteon madeconsiderable progress toward its 1999 milestone of $2 billion innew business: * Visteon won $1.7 billion worth of annualized new businesscontracts. * 36 percent of the contracts were from customers other thanFord. * 37 percent of the contracts were won outside of NorthAmerica. * Over 8 percent of the contracts were won in theaftermarket. "Visteon's reputation as a world-class systems supplier isgrowing in every automotive market," said Craig H. Muhlhauser,president, Visteon Automotive Systems. "We are building anoutstanding portfolio of innovative technologies and breakthroughsystems solutions by listening to the needs of consumers. In a recent survey, automotive executives named Visteon theworld's leading systems integrator, best body exterior supplierand best supplier of transmission and drivetrain systems.Visteon's Superintegration(TM), an innovative technology destinedto define the future of automotive design, and its VoiceTechnology are preeminent in the industry. Visteon showcased a number of its consumer-driven technologysystems -- including Superintegration(TM) and Voice Technology --at last month's Frankfurt Motor Show. Other leading-edge productsand partnerships highlighting Visteon's technology and consumerfocus at the show were: Visteon's night visibility system; ICES,Visteon's Information, Communication, Entertainment, Safety andSecurity in-car computing platform; the NavMate(R) navigationsystem; the in-dash 6 CD radio; the European Rear SeatEntertainment System; and partnerships with Nintendo, 3Com andBang & Olufsen. "The growth and profitability of Visteon's business clearlydemonstrates we are well on our way to meeting all of ourstrategic business objectives for the year with products ourcustomers want," Muhlhauser concluded. With a global delivery system of more than 125 technical,manufacturing, sales and service facilities located in 21countries, Visteon Automotive Systems is leveraging the talentsof its 77,000 employees to deliver innovative, consumer-driventechnology systems solutions to its customers. During third quarter 1999, Ford recognized a $125 millionafter-tax charge resulting from actuarial valuations of post-retirement health care and life insurance benefits for certainVisteon operations. Visteon retroactively reflected thisadjustment in its historical financial statements. ots Original Text Service: Visteon Automotive SystemsInternet: http://www.newsaktuell.de Contact: Media Inquiries:Cheryl Eberwein, (USA) 313-248-6321, ceberwei@visteon.com, orAnalyst Inquiries: Kent Niederhofer, (USA) 313-390-1467,kniederh@visteon.com, both of Visteon Automotive Systems Website: http://www.visteon.com

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