CNH Reports Record Third Quarter Net Income of $252 Million, up 107%

Market Wire, October, 2008

CNH Global N.V. (NYSE: CNH)

--  Continued robust agricultural industry demand and market share gains
    drove net sales of equipment to $4.3 billion in the third quarter, up 22%
--  Agricultural Equipment Gross Margin improvement continues as pricing
    actions continue to offset higher input costs, primarily plate steel and
    tires
--  Construction Equipment sales continue to weaken, with net sales of
    equipment down 8% year-over-year; market share remains stable
--  Full year 2008 financial outlook improved -- expected range of diluted
    EPS before restructuring, after tax, now forecast to be $3.50 to $3.90
    

Continuing strong sales growth in the agricultural equipment business combined with a favorable mix of higher horsepower equipment sales drove CNH's third quarter 2008 diluted earnings per share to more than double that of the third quarter of 2007. New product introductions, an enhanced international presence and an emphasis on quality have built a solid base for continuing net sales and earnings growth.

               Third Quarter & First Nine Months Highlights
             (Unaudited, US$ in millions, except per share data)


                          Quarter Ended           Nine Months Ended
                          --------------- Percent  --------------- Percent
                          9/30/08 9/30/07 Change   9/30/08 9/30/07 Change
                          ------- ------- ------   ------- ------- ------

Net Sales of Equipment    $ 4,326 $ 3,557   21.6 % $13,704 $10,894   25.8 %
Equipment Operations
 Operating Profit         $   339 $   300   13.0 % $ 1,188 $   960   23.8 %
Financial Services Net
 Income                   $    69 $    72   (4.2)% $   191 $   195   (2.1)%
Consolidated Net Income   $   252 $   122  106.6 % $   711 $   445   59.8 %
Restructuring (After Tax) $     7 $    26  (73.1)% $    25 $    55  (54.5)%
Net Income Before
 Restructuring, After Tax $   259 $   148   75.0 % $   736 $   500   47.2 %
Diluted Earnings Per
 Share (EPS)              $  1.06 $  0.51  107.8 % $  2.99 $  1.87   59.9 %
Diluted EPS Before
 Restructuring, After Tax $  1.09 $  0.62   75.8 % $  3.10 $  2.10   47.6 %

"We are pleased to report another quarter of significant growth in sales, operating profit and net income, making this our eleventh consecutive quarter of year-over-year improvement," said Harold Boyanovsky, CNH President and Chief Executive Officer. "Our Agricultural Equipment business growth continues in all regions, particularly in the cash grain market segments. Our Construction Equipment sales remain close to last year's levels, where growth in Latin America and Rest-of-World partially offset the market weakness in North America and Western Europe. Pricing and operational actions are delivering positive results in offsetting rising material cost pressures. Our Agricultural Equipment Gross Margin improvement continues, up 60 basis points in the quarter compared with last year. Accordingly, we are increasing our full year 2008 guidance to $3.50 to $3.90 diluted EPS, before restructuring, after tax."

Third Quarter 2008 Brand Activities

Case IH Agriculture publicly debuted its new Mid-Range Magnum row crop tractors to be built in Racine, WI and an expanded line-up of high efficiency, Axial-Flow Combines to be built in Grand Island, NE including two new Class VII models and introducing a new Class IX model in the industry's largest combine segment. It also introduced upgraded models of small square balers, a new pull-type rotary cutter and continued its worldwide distribution of new JXU Utility tractors, Axial-Flow combines and Module Express Cotton Pickers into the Australian market.

New Holland Agriculture's new 591 horsepower CR9090 Class IX Combine set a new Guinness world record in the UK on September 26, by harvesting 551 tons of wheat in 8 hours, beating the previous record by 19.5 tons while consuming only 13.3 liters of fuel per hectare -- highlighting the machine's efficiency. It upgraded its VN2080 Grape Harvesters for worldwide markets and introduced new T7000 and upgraded T6000 higher horsepower tractors for the Latin American market.

Case Construction added new models of its B Series crawler excavators with reduced noise levels and increased fuel efficiency for worldwide distribution, new compact track loaders in Europe, new compaction equipment in the Americas and new crawler dozers, backhoe loaders and skid steer and compact track loaders in Rest-of-World markets. Case also unveiled a new Web-based training system for its dealers.

New Holland Construction presented its newest models of crawler excavators, expanding the breadth of its product line, complete with improved hydraulics and cab ergonomics and an integrated noise and dust reduction system, destined for the North American and Western European markets. It introduced new models of graders, telehandlers and skid steer loaders in the Latin American market and new crawler excavators and graders in Rest-of-World markets.

Third Quarter and Nine Months 2008 Operating Review - Equipment Operations