CNH Third Quarter Revenue Rises 20% to $3.5 Billion on Improved Demand for Agricultural and Construction Equipment

Net Sales were 78% agricultural equipment and 22% construction equipmentfor the quarter, as improving construction equipment unit demand continuedto bring the Group’s revenue distribution back to historical norms. Thegeographical distribution of revenue for the period was 44% North America,19% Western Europe, 19% Latin America, and 18% Rest of World.

Equipment Operations generated $1.2 billion in cash flow from operatingactivities over the first three quarters of the year. Year-to-date capitalexpenditures totaled $153 million, a 11% increase from the comparableperiod, primarily in preparation for new product launches and engineemissions compliance upgrade; full year capital expenditures are expectedto be in the $300 million range. CNH’s Equipment Operations ended theperiod with a net cash position of $1.8 billion, an increase of $1.9billion compared to the end of the third quarter in 2009. The 33% effectivetax rate for the third quarter 2010 is within the Group’s long termexpectations of 32% to 36%, as a result of tax incentives and tax return toprovision filing differences, which largely offset the impact of notrecording a tax benefit on losses in Europe for which conditions for theirrecognition are not currently satisfied.

Net Income before restructuring and exceptional items for the period of$102 million ($83 million inclusive of exceptional items) resulted in theGroup generating a third quarter EPS of $0.43 ($0.35 inclusive ofexceptional items) compared to a loss of $0.09 in the comparable prior yearperiod.

2010 Market Outlook

CNH anticipates that global agricultural equipment markets will be up 0-5%for FY 2010. The CNH outlook for the global construction equipment marketsis for an increase of 40% to 45% in 2010.

2010 CNH Outlook

In view of the Group’s performance through the first three quarters andcurrent forecasts for trading activity in the remainder of the year, CNHanticipates that it will achieve the following financial targets: Net Salesin excess of $14.3 billion, Operating Profit of $900 million and netindustrial cash of $1.3 billion.

SEGMENT RESULTS

Agricultural Equipment Industry and Market

Worldwide agricultural industry retail unit sales decreased 1% compared tothe third quarter of 2009. Global tractor sales fell 1% while globalcombine sales grew 6% for the quarter.

North American markets rose 2%, with tractor sales up 2% and combine salesup 7% on continued strong demand from the large cash crop segments.Sustained commodity prices and the continuation of government supportprograms drove demand in Latin America where tractor sales rose 21% andcombine sales were up 16%. The decline in equipment demand moderated inWestern European markets which were down 5% for the quarter, with tractorsales falling 4% and combine sales down 13%. Rest of World markets weredown 6%, with a 6% drop in tractor sales and a 7% rise in combine sales.

CNH Agricultural Equipment Third Quarter Results

Net Sales in the agricultural equipment segment increased 12.8% for thequarter (13.4% on a constant currency basis) on the back of growth indemand in the Americas that more than offset the difficult, butstabilizing, trading conditions in Europe and Rest of World markets.Operating Margin increased to 8.5% from 6.5% from the comparable period in2009. This improved profit performance was largely the result of improvedindustrial economics, product mix, and favorable geographic distribution ofrevenues.

Company and dealer inventories ended the period largely in line withestimated market demand and historical norms for the period. CNH productionfor the period was slightly below the pace of retail sales due to seasonalplant shutdowns, inventory balancing, and in preparation for new productlaunches.

CNH continued to invest in its agricultural equipment product portfolio andindustrial capacity during the third quarter. The Company continued tosignificantly invest in the launch of Tier 4/Stage IIIA productintroductions with dealer and customer training programs completed duringthe period for the first products in the line-up, 4-wheel drive tractors.Investments in the Group’s industrial footprint for both whole goodsmanufacturing and components supply continued in conjunction with theproduct plan announced in April 2010.

Construction Equipment Industry and Market

Global construction equipment industry retail unit sales rose 47% in thethird quarter compared to the prior year, with light equipment up 34% andheavy equipment up 59%. North American demand was up 34%, with lightequipment volumes up 34% and heavy equipment rising 33%. Western Europeanmarkets rose 27% as the industry began to rebuild from the prior year’s lowlevels. In Latin America, the market was up 85%, driven by strong demandfrom projects in public and private sectors. Industry sales in Rest ofWorld markets rose 54% with continued strong demand in the Asia-Pacificregion, primarily the heavy equipment segment in China.

CNH Construction Equipment Third Quarter Results

CNH’s construction equipment segment Net Sales grew considerably, 52.4%(51.0% on a constant currency basis) driven by a robust recovery in demandin all regions compared with the low base in the third quarter 2009. Thesegment posted an Operating Profit for the quarter of $4 million, comparedto the $88 million loss in the comparable quarter in 2009, largely as aresult of increased volume, reduced industrial costs, and increasedcapacity utilization.

Finished goods unit inventory levels (company and dealer) for the segmentdeclined from the comparative quarter. Due to inventory management in theprior period, production exceeded retail volume by 4% for the period as theGroup began to re-stock its dealer network with fresh product and inpreparation for new product launches.

New product launches announced in April 2010 in both light and heavyconstruction equipment remain on track with performance, safety, styling,and emissions compliance features incorporated in the new designs. Thefirst global launch of the new Tier 4 compliant backhoe, produced in threedifferent regions, is on schedule with product deliveries commencing inOctober.

Financial Services’ Net Income for the quarter ending September 30, 2010was $47 million, an increase of $15 million compared to the quarter endingSeptember 30, 2009, as a result of higher loan originations in theagricultural equipment business and improved interest margins which werepartially offset by higher provisions for credit losses in the agriculturalportfolio. Due to the adoption of new accounting standards on January 1,2010, Financial Services was required to consolidate $5.7 billion ofreceivables and related liabilities in its balance sheet. Consequently,on-book receivables are higher compared to September 2009.

The managed asset portfolio decreased $416 million from September 2009 dueto lower retail originations in the construction equipment market over thelast 24 months.

Delinquency indicators showed improvements in all loan portfolios.

Unconsolidated Equipment Operations Subsidiaries

Third quarter results for the Group’s unconsolidated Equipment Operationssubsidiaries improved to $15 million from a $5 million net loss in thecomparable period in the prior year as a result of robust market conditionsin Turkey in agricultural equipment and improved relative performance ofthe Group’s construction equipment joint ventures.

Other

Exceptional and Other Items

On July 28, 2010, the Company completed the redemption of its $500 millionin notes due in 2014, and as a result, CNH incurred a pretax loss of $22million ($14 million after tax) on retirement of debt in the third quarterof 2010.

ABOUT CNH

CNH CONFERENCE CALL AND WEBCAST

NON-GAAP MEASURES

CNH utilizes various figures that are “Non-GAAP Financial Measures” as thisterm is defined under Regulation G as promulgated by the SEC. In accordancewith Regulation G, CNH has detailed either the computation of thesemeasures from multiple U.S. GAAP figures or reconciled these non-GAAPfinancial measures to the most relevant U.S. GAAP equivalent in theaccompanying tables to this press release. Some of these measures do nothave standardized meanings and investors should consider that themethodology applied in calculating such measures may differ among companiesand analysts. CNH’s management believes these non-GAAP measures provideuseful supplementary information to investors in order that they mayevaluate CNH’s financial performance using the same measures used by ourmanagement. These non-GAAP financial measures should not be considered as asubstitute for, nor superior to, measures of financial performance preparedin accordance with U.S. GAAP.

CNH defines “Equipment Operations gross profit” as net sales of equipmentless costs classified as cost of goods sold. CNH defines “EquipmentOperations operating profit” as gross profit less costs classified asselling, general and administrative and research and development costs. CNHdefines “Equipment Operations gross margin” as gross profit as a percent ofnet sales of equipment. CNH defines “Equipment Operations operating margin”as operating profit as a percent of net sales of equipment. “Net Debt(Cash)” is defined as total debt (including intersegment debt) less cashand cash equivalents, deposits in Fiat affiliates cash management pool andintersegment notes receivable. CNH defines “Net income (loss) and dilutedEPS before restructuring and exceptional items” as Net income (loss)attributable to CNH, less restructuring charges and exceptional items,after tax. Exceptional items include charges or income that may maskunderlying operating results or business trends such as the impact ofdivestitures, retirement of debt and changes in law. Equipment Operations”working capital” is defined as accounts and notes receivable andother-net, excluding intersegment notes receivables, plus inventories lessaccounts payable. The U.S. dollar computation of cash generated fromworking capital, as defined, is impacted by the effect of foreign currencytranslation and other non-cash transactions. CNH defines the “change in netsales on a constant currency basis” as the difference between prior yearactual net sales and current year net sales translated at prior yearaverage exchange rates. Elimination of the currency translation effectprovides constant comparisons without the distortion of currency ratefluctuations.

FORWARD LOOKING STATEMENTS

Forward-looking statements. This press release includes “forward-lookingstatements” within the meaning of the Private Securities Litigation ReformAct of 1995. All statements other than statements of historical factcontained in this press release, including statements regarding ourcompetitive strengths, business strategy, future financial position,operating results, budgets, projected costs and plans and objectives ofmanagement, are forward-looking statements. These statements may includeterminology such as “may,” “will,” “expect,” “could,” “should,” “intend,””estimate,” “anticipate,” “believe,” “outlook,” “continue,” “remain,” “ontrack,” “goal,” or similar terminology.

Our outlook is predominantly based on our interpretation of what weconsider key economic assumptions and involves risks and uncertainties thatcould cause actual results to differ. Crop production and commodity pricesare strongly affected by weather and can fluctuate significantly. Housingstarts and other construction activity are sensitive to the availability ofcredit and to interest rates and government spending. Some of the othersignificant factors which may affect our results include general economicand capital market conditions, the cyclical nature of our business,customer buying patterns and preferences, foreign currency exchange ratemovements, our hedging practices, our customers’ access to credit,restrictive covenants in our debt agreements, actions by rating agenciesconcerning the ratings of our debt securities and asset backed securities,risks related to our relationship with Fiat S.p.A., the effect of thecontemplated demerger pursuant to which CNH would be separated from FiatS.p.A.’s automotive business, political uncertainty and civil unrest or warin various areas of the world, pricing, product initiatives and otheractions by competitors, disruptions in production capacity, excessinventory levels, the effect of changes in laws and regulations (includingthose related to tax, healthcare, retiree benefits, government subsidiesand international trade), the results of legal proceedings, technologicaldifficulties, results of our research and development activities, changesin environmental laws, employee and labor relations, pension and healthcare costs, relations with and the financial strength of dealers andcritical suppliers, the cost and availability of supplies from oursuppliers, raw material costs and availability, energy prices, real estatevalues, animal diseases, crop pests, harvest yields, government farmprograms and consumer confidence, housing starts and construction activity,concerns related to modified organisms and fuel and fertilizer costs.Additionally, our achievement of the anticipated benefits of our marginimprovement initiatives depends upon, among other things, industry volumesas well as our ability to effectively rationalize our operations and toexecute our brand strategy. Further information concerning factors thatcould significantly affect expected results is included in our annualreport on Form 20-F for the year ended December 31, 2009.

We can give no assurance that the expectations reflected in ourforward-looking statements will prove to be correct. Our actual resultscould differ materially from those anticipated in these forward-lookingstatements. All written and oral forward-looking statements attributable tous are expressly qualified in their entirety by the factors we disclosethat could cause our actual results to differ materially from ourexpectations. We undertake no obligation to update or revise publicly anyforward-looking statements.

These Condensed Consolidated Statements of Operations should be read inconjunction with the Company’s audited consolidated financial statementsand notes for the year ended December 31, 2009.

The supplemental Equipment Operations (with Financial Services on theequity basis) data in these statements include primarily CNH Global N.V.’sagricultural and construction equipment operations. The supplementalFinancial Services data in these statements include primarily CNH GlobalN.V.’s financial services business. Transactions between EquipmentOperations and Financial Services have been eliminated to arrive at theConsolidated data.

These Condensed Consolidated Statements of Operations should be read inconjunction with the Company’s audited consolidated financial statementsand notes for the year ended December 31, 2009.

The supplemental Equipment Operations (with Financial Services on theequity basis) data in these statements include primarily CNH Global N.V.’sagricultural and construction equipment operations. The supplementalFinancial Services data in these statements include primarily CNH GlobalN.V.’s financial services business. Transactions between EquipmentOperations and Financial Services have been eliminated to arrive at theConsolidated data.

These Condensed Consolidated Balance Sheets should be read in conjunctionwith the Company’s audited consolidated financial statements and notes forthe year ended December 31, 2009.

The supplemental Equipment Operations (with Financial Services on theequity basis) data in these statements include primarily CNH Global N.V.’sagricultural and construction equipment operations. The supplementalFinancial Services data in these statements include primarily CNH GlobalN.V.’s financial services business. Transactions between EquipmentOperations and Financial Services have been eliminated to arrive at theConsolidated data.

These Condensed Consolidated Statements of Cash Flows should be read inconjunction with the Company’s audited consolidated financial statementsand notes for the year ended December 31, 2009.

The supplemental Equipment Operations (with Financial Services on theequity basis) data in these statements include primarily CNH Global N.V.’sagricultural and construction equipment operations. The supplementalFinancial Services data in these statements include primarily CNH GlobalN.V.’s financial services business. Transactions between EquipmentOperations and Financial Services have been eliminated to arrive at theConsolidated data.

Note: Net Debt (Cash) is a non-GAAP financial measure. See description ofnon-GAAP measures contained in this release.

Note: Net sales on a constant currency basis is a non-GAAP financialmeasure. See description of non-GAAP measures contained in this release.