New Holland Prices Asset Backed Securities Transaction

Amsterdam, Netherlands (PROTEXT) - New Holland N.V. (NYSE: NH) announced today that it priced on November 4th, 1999 its first Asset Backed Securities transaction. The $1,035,664,000 of Asset Backed Notes were sold by New Holland Equipment Receivables Business Trust 1999-A. The Notes are secured by a pool of agricultural and construction equipment fixed rate retail installment contracts originated by New Holland Credit Company LLC, the financial services subsidiary of New Holland N.V. based in the United States. The Asset Backed Notes consist of $250,000,000 of 6.145% Class A-1 Asset Backed Notes, $320,000,000 of 6.39% Class A-2 Asset Backed Notes, $280,000,000 of 6.65% Class A-3 Asset Backed Notes, $140,750,000 of 6.80% Class A-4 Asset Backed Notes and $44,914,000 of 6.94% Class B Asset Backed Notes. The Notes will have differing maturities. Principal and interest payments to the Class B Notes will be subordinated to principal and interest payments to the Class A Notes. The settlement of the Asset Backed Notes is expected to occur on November 16th, 1999. The Asset Backed Notes have not been and will not be registered with the SEC or any state securities commission and may not be offered or sold in the United States absent registration or an applicable exception therefrom. New Holland is a world leader in the design and manufacture of a full line of agricultural and construction equipment, and offers a rapidly expanding line of financial services in many of its markets. With revenues of $5.7 billion in 1998, the Company and its joint venture partners operate in 160 countries through a network of approximately 6,100 dealers and distributors. ots Original Text Service: New Holland Internet: http://www.newsaktuell.de Contact: Media Relations, Jeffrey Walsh of New Holland +44-181-479-8809, or fax, +44-181-479-8626, or jwalsh@newholland.com Web site: http://www.newholland.com Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT