John Deere Capital Corporation Announces Redemption of 8-5/8% Indentures

MOLINE, Ill., June 21 -- John Deere Capital Corporation, a subsidiary of Deere & Company , today announced that it has elected to redeem on August 2, 2004 all of its outstanding 8-5/8% Subordinated Indentures, due August 1, 2019. The redemption price will be equal to 100% of the par value of the Notes, plus accrued interest (two days accrued interest). Semi-annual interest payable on August 1, 2004 will be paid to the record holder in the normal and customary manner. Payment will be made upon presentation and surrender of the Notes: if by hand, at JPMorgan Chase Bank (successor to The First National Bank of Chicago), Institutional Trust Securities Window, 4 New York Plaza - 1st Floor, New York, NY 10004- 2413, if by First Class/Registered/Certified mail, to JPMorgan Chase Bank (successor to The First National Bank of Chicago), Institutional Trust Services, P.O. Box 2320, Dallas, Texas 75221-2320, and if by Express delivery, to JPMorgan Chase Bank (successor to The First National Bank of Chicago), Institutional Trust Services, 2001 Bryan Street, 9th Floor, Dallas, Texas 75201.