OTHER NEWS - Feb. 10, 1996

Ford Unit Files for IPO: A Ford Motor Co. finance unit filed with the Securities and Exchange Commission to sell as much as 19.8% of its shares to the public in a first-time stock offering. The unit, called Associates First Capital Corp., said in the filing that it would sell at least $100 million of Class A shares, but the amount could go higher than $1 billion, based on other figures provided in the filing. Ford will retain the 80% of the company that is not sold to the public, Ford spokesman Mel Stephens said. Associates and the other, smaller Ford finance units contributed heavily to Ford earnings last year when income from the company’s auto division was depressed by product launches, Stephens said. The finance units contributed $2.1 billion of Ford’s $4.1 billion 1995 net income; auto operations contributed $2 billion.