Ford Credit Canada Limited Announces Retail Securitization Transaction

DEARBORN, Mich., March 31, 2008 – Ford Credit Canada Limited announced today that it completed a securitization of a pool of retail conditional sale contracts, receiving immediately available proceeds of approximately $1.0 billion (Canadian).

Under the securitization transaction, a newly established trust sponsored by Ford Credit Canada purchased a pool of retail conditional sale contracts from Ford Credit Canada. The trust financed the purchase by issuing asset-backed notes to third parties.

The trust will be consolidated with Ford Credit Canada for accounting purposes. As a result of such consolidation, both the pool of retail contracts and the indebtedness incurred by the trust with respect to the asset-backed notes will be reflected on the consolidated financial statements of Ford Credit Canada.

Ford Credit Canada will use most of the immediately available proceeds to repay indebtedness owing to Ford Motor Credit Company. Ford Credit Canada is an indirect, wholly owned subsidiary of Ford Motor Credit Company.

Ford Motor Credit Company LLC is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. It provides automotive financing for Ford, Lincoln, Mercury, Jaguar, Land Rover, Mazda and Volvo dealers and customers. More information can be found at http://www.fordcredit.com and at Ford Motor Credit's investor center, http://www.fordcredit.com/investorcenter/.

Source: Ford Motor Company

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