CNH Full Year 2006 Net Income up 79 Percent From 2005

Market Wire, January, 2007

In the first quarter of 2006, CNH's wholly owned subsidiary, Case New Holland, Inc., issued $500 million of 7.125% Senior Notes due 2014 in a private offering, to repay debt to Fiat and debt guaranteed by Fiat. In July, Case New Holland, Inc. exchanged 100% of these notes for 7.125% Senior Notes due 2014 that were registered under the Securities Act of 1933, as amended.

Financial Services Net Debt increased by $725 million to $4.5 billion at December 31, 2006 from December 31, 2005, driven primarily by retail portfolio growth in North America and Brazil.

NEW PRODUCT LAUNCHES

2006

--  The Case IH Axial-Flow 2388 combine and its edible bean kit were the
    gold medal winners of the "Outstanding" Category in Brazil's 2006 Gerdau
    Melhores da Terra contest.
--  Bolstered by launches of the CR and CSX combines in Europe, New
    Holland again confirmed its leading position in the combine market.
--  Case Construction launched new Tier 3 wheel loaders and dozers
    featuring more spacious cabs and improved operating systems boosting
    productivity and fuel efficiency.
--  Case's new Tier 3 articulated trucks offered improved reliability and
    durability, better controls and ease of maintenance.
--  New Holland Construction launched pilot controls on skid steer loaders
    and compact track loaders in North America to enhance ease of operation and
    maneuverability.
--  New Holland Construction's new Tier 3 wheel loaders, launched in North
    America and Europe, offer new cabs with greater top visibility during
    loading operations.
--  Construction Equipment Magazine's "Top 100 Products for 2006" included
    New Holland Construction's E215-ME excavator and its entire backhoe product
    line.
--  In November, CNH Capital America, LLC.  and Maserati North America,
    Inc. formed  Maserati Financial Services, becoming the  preferred financing
    source for Maserati dealers throughout the U.S., with innovative lease and
    finance solutions designed exclusively for Maserati customers.
    

2007

--  Case IH North America will launch its revolutionary new "Module
    Express" cotton picker, which will reduce labor and machinery expense for
    cotton growers by providing a cotton gin friendly on-board module builder.
--  New Holland will launch two of its most important tractor lines in the
    100 to 213 horsepower range, the T6000 and T7000.
--  In Latin America, New Holland will launch a new line of narrow
    tractors and other product upgrades with new mechanical transmissions and
    re-powered engines.
--  Case Construction will launch a new Tier 3 backhoe, celebrating its
    50th Anniversary of loader backhoe leadership.
--  Case Construction's new Tier 3 hydraulic excavators will offer a step
    change improvement in fuel efficiency and productivity, with an industry
    leading operator environment.
--  New Holland Construction will launch important new features and models
    of compact track loaders, skid steer loaders, telehandlers, hydraulic
    excavators, wheel loaders and dozers to address the needs of landscapers
    and contractors.