CNH COMMON STOCK OFFERING PRICED AT $4.00 PER SHARE.

The offering is being underwritten by a syndicate of investment banks. In the United States the syndicate is led by Merrill Lynch & Co. and includes JPMorgan and Salomon Smith Barney. In Europe the syndicate includes Merrill Lynch International, JPMorgan, Schroder Salomon Smith Barney, and UniCredit Banca Mobiliare.

Concurrently, the Fiat Group, CNH?s majority shareholder, will exchange approximately $1.3 billion of debt owed to Fiat by CNH for CNH common shares also priced at $4.00 per share. The exchange is expected to be completed by Friday, Jun 14, 2002.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the registration statement may be obtained from Investor Relations, CNH Global N.V., Global Management Office, 100 South Saunders Road, Lake Forest, IL 60045.