CNH Full Year 2006 Net Income up 79 Percent From 2005

Market Wire, January, 2007

AGRICULTURAL EQUIPMENT MARKET OUTLOOK

U.S. farm income will improve 5% in 2007. U.S. farm cash receipts are expected to increase modestly driven by higher commodity prices. The increase of ethanol production is expected to drive corn and soybean prices higher. Corn acreage is expected to increase 7-10%.

Outside of North America, the European agricultural markets are expected to remain at 2006 levels. Latin American markets will continue to improve driven by higher commodity prices for sugar and cash grains.

On this basis, we expect the agricultural equipment market to be modestly up in 2007.

CONSTRUCTION EQUIPMENT MARKET OUTLOOK

North American construction spending is expected to be down due to the decline in housing starts. Growth is expected to resume in 2008 and 2009.

Outside of North America, construction activity is expected to continue its growth. In this environment, the worldwide construction equipment industry should generally remain strong for both heavy and light equipment.

CNH OUTLOOK FOR FULL YEAR 2007

Based on the agricultural and construction equipment market outlooks and the initiatives undertaken in the last two years designed to properly position our four main brands, CNH confirms its 2007 outlook as presented at Fiat's Investor and Analyst Meeting on November 8, 2006 in Turin, Italy.

--  Net sales of equipment: approximately $13 billion
--  Industrial operating margin: between 7.6 and 8.4%
    

Restructuring costs, net of tax, in 2007 are expected to be about one-half of the amount in 2006. CNH expects to recognize the balance of the costs related to the actions announced in October, 2006, to readjust the organizational structure to evolving business needs.

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CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by more than 11,000 dealers in 160 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE: CNH), is a majority-owned subsidiary of Fiat S.p.A. (FIA.MI) (NYSE: FIA). More information about CNH and its Case and New Holland products can be found online at www.cnh.com .

CNH management will hold a conference call later today to review its fourth quarter and full year 2006 results. The conference call Webcast will begin at approximately 9:00 a.m. U.S. Central Time; 10:00 a.m. U.S. Eastern Time. This call can be accessed through the investor information section of the company's Web site at www.cnh.com and is being carried by CCBN.

Forward-looking statements. This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements regarding our competitive strengths, business strategy, future financial position, budgets, projected costs and plans and objectives of management, are forward-looking statements. These statements may include terminology such as "may," "will," "expect," "could," "should," "intend," "estimate," "anticipate," "believe," "outlook," "continue," "remain," "on track," "goal," or similar terminology.