THE OFFICIAL LAUNCH
Land Rover NAIAS Event, January 7, 2002

WOLFGANG REITZLE Remarks, Range Rover launch, January 7 2002, Detroit

Ladies and gentlemen thank you for coming to this important event for Land Rover. The launch of a new product is always a big event for a car company. The launch of a new Land Rover is a very, very special event because Land Rover does not launch new vehicles very often.

This is only the eighth all-new model in Land Rover's 53-year history. And only the third new Range Rover in 31 years. You can look at this from different perspectives -- to us it means that Land Rover only launches long-lasting vehicles!!! The introduction of the vehicle you are about to see is also a unique event for me.

I doubt whether many people have had the opportunity to begin developing a vehicle at one company and then finish it for another, as I did.

The new Range Rover that you will see in a moment is a truly formidable machine. It can compete with any luxury car in terms of on-road refinement, yet it is one of the world's great off-roaders. No other vehicle in history, with the possible exception of the first Range Rover, has ever been able to make that claim. I was personally a huge fan of the first Range Rover, launched in 1970. It was the very first prestige 4x4. It was also the first vehicle to combine on-road refinement with go-anywhere ability - thereby creating its own niche. And it looked superb - one of the cleanest and most distinctive vehicles ever launched.

In fact it quickly became an icon - so much so, that it was even displayed at the Louvre in Paris -- by the way the only motor vehicle ever shown there. It created a whole new class of vehicle, and one that is now enormously popular, particularly here in the United States For many years the original Range Rover had the market to itself. Its replacement was also a class leader when launched in 1994. You can imagine, with this sort of history it was a fantastic and stimulating challenge - to develop the successor for one of the world's greatest vehicles.

The vision we had when we started the development was:

• To win back clear leadership in the SUV sector
• To retain the pure design of the original.
• To compete with the top luxury sedans on road
• And to be a true Land Rover off-road

It was the tremendous vision of Ford Motor Company to make Land Rover part of its premium strategy.That gave me the opportunity to become reacquainted with this vehicle. It was also essential to re-equip our factory in England to ensure the best quality. We have fitted an all-new production line and embarked in a massive training program for all our workforce.

The result:

We're confident that this is the best quality Land Rover ever!!!

We believe that this vehicle will totally transform Land Rover's reputation.

We, at PAG -- in common with our colleagues here in Dearborn -- believe it will become one of the world's all time great vehicles.

At the same time it is a key element of Ford Motor Company's premium strategy. But of course you, and our customers, are the real judges. I hope you like it as much as we do. But now it is time to see it. We commissioned a very special film which I believe captures the spirit of the new Range Rover. And now ladies and gentlemen.... HERE IT IS....

BOB DOVER Remarks, Range Rover launch, January 7 2002, Detroit

Good morning, ladies and gentlemen. Our goal for the new Range Rover was to make a vehicle with the greatest breadth of capability of any car ever launched. A vehicle that is supreme off-road - and yet offers similar on-road refinement to the world's best luxury sedans. That is a very tall order. But I believe we have succeeded.

Sales in Europe commence from mid February and, in North America, sales start in June. North America will be our biggest market, just as it was for the old Range Rover. US prices will be announced nearer the on-sale date but I can reveal now that they will start at around $70,000. Every single part of this vehicle is brand new. Even the Land Rover badge has been subtly redesigned.

• Key technical details include a choice of 4.4 litre V8 petrol engine and, for Europe, a 3.0-litre six-cylinder turbodiesel.
• The vehicle has full time four-wheel drive, using the most sophisticated electronic controls in the 4x4 market, and has fully independent suspension.
• Most of the body panels are aluminium, and the car has a monocoque chassis - just like its little brother, the Freelander, which has just gone on sale here in North America.

This vehicle, ladies and gentlemen, is absolutely crucial to the success of Land Rover. It is the first vehicle we have launched since the purchase by Ford in July 2000 and the first since we have combined Land Rover's sales organization here in North America with Jaguar and Aston Martin. The new Range Rover is clearly a key part of our strategy to grow Land Rover's sales volumes here in the world's biggest SUV market.

We currently have less than 0.2% (zero point two percent) of the US light vehicle market and less than 1% (one percent) of the total SUV market. These are tiny figures for one of the world's great 4x4 brands. Growth in North America - fuelled by Freelander, new Range Rover, and other exciting upcoming products - is the absolute priority for our business. This year we are hoping to almost double our volumes -- to almost 50,000 vehicles. That would make North America our biggest single market.

We have, incidentally, just enjoyed our best-ever sales month in North America - this past December... and 2001, in total, was the second best year ever for Land Rover North America. So North America is the obvious place to launch our new vehicle to the world. Now, ladies and gentlemen, I'd like to invite you all down to the floor to take a look at the new Range Rover and meet the Land Rover team. Press kits will be distributed as you leave.

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BIOGRAPHY: DR. WOLFGANG REITZLE The objective of the Premier Automotive Group is to develop strategies to leverage the unique strengths of these four brands as well as grow Ford's luxury car business. As a former top executive with BMW AG, Reitzle's worldwide experience in the premium car segment and his appreciation of classic marques make him a highly appropriate addition to Ford's senior management team. As a manager, Reitzle describes himself as having an open, straightforward leadership style. He is driven by excellence, thrives on challenges and tries to motivate team members to shoot for ambitious targets. He joined Ford after 23 years with BMW AG, 13 of them as a board member, where he was credited with bringing many of the German automotive manufacturer's most successful products to market. Reitzle was born in the Neu-Ulm District of Bavaria on March 7, 1949. Even as a small child, he said he was fascinated by automobiles. He studied mechanical engineering at Munich Technical University to gain his engineering degree and subsequently won a Doctorate in Engineering at the same university. Prior to joining BMW AG in 1976, he also obtained a degree in labor and economic science at the Munich Technical University. Dr. Reitzle is known as an expert in high performance engine technology. He began his career at BMW as a specialist in production technology and climbed the ranks through a number of senior production positions before he was appointed General Manager of the Development Division in May 1985. He was appointed a member of the Board of Management with responsibility for Research and Development in 1987. In 1995, BMW sales and marketing were added to his portfolio of responsibilities. He also serves on several advisory boards in Germany, including one for the Bavarian government, and another for a not-for-profit organization that helps teach people about the linkage between politics, the economy and society. Dr. Reitzle will keep his primary office in London.

BIOGRAPHY: ROBERT A. DOVER Before joining Land Rover, Dover was chairman of Aston Martin Lagonda, a position he took in April 1997. Prior to that appointment, he was the chief programme engineer responsible for the Jaguar XK8 sports car. He has worked for Land Rover before - from 1984 to 1987 when he was Land Rover’s director of manufacturing. Born in Upminster, Essex in 1945, Dover holds a first class honours degree in mechanical engineering from Manchester University. After a spell in the Royal Aircraft Establishment at Farnborough, he entered the motor industry in 1968. He has held senior positions with British Leyland, Land Rover, Jaguar Cars and Massey-Ferguson. He is married and lives in Leamington Spa, Warwickshire. His interests include driving and restoring classic cars – he owns a 1961 Daimler SP250 and a 1983 Morgan. He also plays real tennis.

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