CNH Full Year 2007 Diluted EPS of $2.36 Up 92% From 2006

Market Wire, January, 2008

CNH Global N.V. (NYSE: CNH)

--  Fourth quarter net income was $114 million up from $35 million in 2006
--  Fourth quarter diluted EPS was $0.48 up from $0.15 in 2006
--  CNH Equipment Operations remains net debt free at year-end
--  Full year 2008 financial outlook is an expected range of diluted EPS
    of $3.30 to $3.60
    

CNH Global N.V. (NYSE: CNH) today reported fourth quarter 2007 net income of $114 million, up compared to net income of $35 million in the prior year. Results include restructuring charges, net of tax, of $6 million in the fourth quarter of 2007, compared with $58 million in 2006. Net income excluding restructuring charges, net of tax, was $120 million, up 29 percent compared to $93 million in the prior year. Fourth quarter diluted earnings per share were $0.48, compared with $0.15 per share in 2006. Before restructuring, net of tax, fourth quarter diluted earnings were $0.50 per share, compared with $0.39 per share in the prior year.

For full year 2007, net income of $559 million was up 91 percent compared to net income of $292 million in 2006. Results include restructuring charges, net of tax, of $61 million in 2007, compared with $71 million in the prior year. Net income excluding restructuring charges, net of tax, was $620 million in the year, up 71 percent compared to $363 million in 2006. Full year diluted earnings per share were $2.36, compared with $1.23 per share in the prior year. Before restructuring, net of tax, full year diluted earnings were $2.61 per share, compared with $1.53 per share in 2006.

"Our Equipment Operations gross margin rose to 18.8% and our operating margin rose to 8.2%, making them our best annual margins in CNH history," said Harold Boyanovsky, CNH President and Chief Executive Officer. "Our revenue growth and margin improvements are a direct result of our actions to revitalize our brands, enhance our customer and quality focus, and leverage our global footprint, which also should contribute to further improvements in 2008. Our full year 2008 financial outlook is an expected range of diluted EPS, of $3.30 to $3.60."

Highlights for the quarter include:

--  Worldwide agricultural equipment industry retail unit volumes of
    tractors and combines up 8% and 32% respectively and up in almost every
    region of the world.  CNH's global reach allowed the company to fully
    participate in every region, with retail unit sales up more than the
    industry and with particular strength in high horsepower tractors, combines
    and in developing markets.
--  Worldwide construction equipment industry retail unit volumes were up
    in total, approximately 12%, and were up in every region of the world
    except North America.  CNH's strong global presence allowed the company to
    capitalize on the strong markets outside of North America and increase
    retail unit sales more than the industry.
--  Net sales outside of North America were 66% of total net sales, up
    from 61% in the fourth quarter of 2006.
--  Positive pricing and positive impacts of exchange rate changes more
    than offset higher economic costs, primarily on steel, rubber, and
    petroleum-based products, driving another quarter of positive net price
    recovery.
--  Research and development spending increased 25% compared with 2006,
    reflecting continuing higher levels of investment in product innovation and
    quality.
--  Equipment Operations remained in a Net Cash position throughout the
    quarter.
--  Conditions in the Brazilian agricultural equipment market have
    continued to improve with total tractor and combine industry unit sales up
    63% compared with the fourth quarter of 2006 driven primarily by higher
    sugar, soybean and corn prices.
--  CNH's plants produced record numbers of its major agricultural and
    construction equipment products during the quarter.
--  CNH extended its reach in developing markets with additional customer
    service centers in Moscow and Istanbul and increased its use of operations
    in Turkey and India as export bases of value tractors for its worldwide
    markets.
    

EQUIPMENT OPERATIONS - Fourth Quarter Financial Results

Net sales of equipment, comprising the company's agricultural and construction equipment businesses, were $4.1 billion for 2007, compared to $3.0 billion for the same period in 2006. Net sales increased 36% including 7% related to currency variations.

Agricultural Equipment Net Sales

--  Agricultural equipment net sales increased to $2.8 billion, up 44%
    (including 7% related to currency), compared with the prior year.
--  Net sales were up 97% in Latin America (including 12% related to
    currency), up 52% in North America (including 2% related to currency), up
    28% in Western Europe (including 10% related to currency), and up 34% in
    Rest-of-World markets (including 8% related to currency).
    

Construction Equipment Net Sales

--  Construction equipment net sales increased to $1.3 billion, up 23%
    (including 8% related to currency), compared to the prior year.
--  Net sales were up 97% in Latin America (including 12% related to
    currency), up 41% in Western Europe (including 10% related to currency),
    down 23% in North America (including positive 2% related to currency) and
    up 78% in Rest-of-World markets (including 9% related to currency).