Ford Motor Co. announced that a Ford subsidiary, Ford FSG Inc., is commencing its tender offer for any and all publicly held shares of Class A Common Stock of The Hertz Corp. The price, announced on Jan. 16, is $35.50 a share. The tender offer will be followed by a merger transaction in which Ford will acquire any remaining publicly held shares of Hertz. The offer is subject to certain conditions, but does not require a minimum number of shares to be tendered. The offer and withdrawal rights will expire at midnight, Eastern Standard Time, on Friday, March 2, 2001, unless the offer is extended. J.P. Morgan Securities Inc. is acting as dealer manager for the tender offer. Ford currently owns about 81.5 percent of the outstanding shares of Hertz. Public shareholders own the remaining 18.5 percent, equal to approximately 20 million shares.