AMENDMENTS TO FORD MOTOR COMPANY
                           DEFERRED COMPENSATION PLAN
                        -------------------------------- 
                       (Effective as of October 16, 1998)

Paragraph (f) of Section 1 of the Plan is amended to read as follows:

     "(f) The term 'Deferred Compensation Committee' shall mean the committee
comprised of the Vice President - Human Resources, the Executive Vice President
and Chief Financial Officer and the Vice President - General Counsel or such
other persons as may be designated members of such Committee by the Compensation
and Option Committee."

The following new paragraph (h) is added to Section 4 of the Plan:

     "(h) Transfer of Deferral Accounts from SC Plan. Effective as of the close
of business on October 16, 1998, all outstanding book entry deferral accounts
maintained under the SC Plan in the form of contingent credits for cash and/or
Ford Common Stock shall be transferred to the Plan and governed by the
provisions of the Plan. Upon such transfer, contingent credits for cash shall be
valued based on the Fidelity Retirement Money Market Portfolio and contingent
credits for Ford Common Stock shall be valued based on the Ford Stock Fund until
such time, if any, as all or part of such amounts are transferred by the
applicable participants to other investment options available under the Plan.
Ultimate payout of a transferred deferral account shall be in cash, except that,
to the extent that the transferred account is valued based on the Ford Stock
Fund, the participant may make an election prior to the transfer of the account
to receive the ultimate payout in whole shares of Common Stock."