---

New Holland Prices Asset Backed Securities Transaction

8 November 1999

New Holland Prices Asset Backed Securities Transaction

    AMSTERDAM, Netherlands, Nov. 5 -- New Holland N.V.
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.