IFS Engaged to Manage Ford Motor Company Securities

Independent Fiduciary Services, Inc (IFS) has been engaged by the UAW Retiree Medical Benefits Trust to manage Ford Motor Company securities which Ford recently contributed (and in the future may contribute) to the Trust.  Under a settlement agreement among Ford, the United Auto Workers union and a class of current or former UAW-represented employees these Ford securities, along with other assets of the Trust, are expected to fund health insurance and related benefits for eligible retirees from Ford. 

The Ford securities consist of: 

·         Two promissory notes, one in the principal amount of over $6.7 billion and the other, in the principal amount of over $6.5 billion.  Payments on the  first note must be made in cash, but on the second note, may be made in cash, shares of Ford common stock or a combination.

·         Warrants to acquire over 362 million shares of Ford common stock at a strike price of $9.20, expiring on January 1, 2013. 

IFS has engaged Sutter Securities Incorporated as its valuation firm and financial adviser and Proskauer Rose LLP as its legal counsel.