CNH Capital's use of securitization is consistent with its strategy to leverage its financing options and broaden its access to the capital markets at the lowest effective rates. CNH Capital will apply the proceeds from this securitization to repay outstanding debt and fund its growing portfolio of receivables.

The issue includes five classes of public notes: $150.0 million of 6.178% Class A-1 notes; $360.0 million of 6.800% Class A-2 notes; $260.0 million of 7.140% Class A-3 notes; $311.0 million of 7.340% Class A-4 notes; and $46.0 million of 7.320% Class B notes. The Class A and Class B notes are ERISA-eligible investments. At closing, it is anticipated that these notes will receive ratings similar to those of past ABS offerings in the United States.

Lead manager for the transaction is Salomon Smith Barney. Co-managers are Bank of America Securities LLC, Chase Securities Inc., Credit Suisse First Boston, First Union Securities and Merrill Lynch & Co.

"This represents the largest transaction in the history of our business," stated CNH Capital Chairman Ted R. French. "Our success in executing a transaction of this magnitude solidifies our strong reputation in the investment community and supports the continued growth of our business."

CNH Capital Corporation, a wholly owned subsidiary of CNH Global N.V., provides broad-based financial services for the global marketplace. CNH Capital serves customers purchasing, leasing and insuring products through Case Credit Corporation, New Holland Credit Company and Soris Financial. Building on 70 years' combined experience in equipment finance, Case Credit and New Holland Credit market their products through Case and New Holland's established dealer networks in North America, Latin America, Australia and Europe. Soris Financial offers products through diverse dealer networks located in North America. Based in Lincolnshire, Illinois, CNH Capital manages a portfolio of receivables and leases totaling close to $11 billion.

A copy of the prospectus relating to the notes may be obtained from Salomon Smith Barney, 390 Greenwich Street, 6th Floor, New York, NY 10013.