New Holland and Case Complete Merger

Amsterdam, Netherlands (PROTEXT) - New Holland N.V.(NYSE: NH)and Case Corporation (NYSE: CSE) announced that the merger of thetwo companies has been completed today. Details concerning thecombined company will be released on Monday, November 15. The company, which is traded on the New York Stock Exchange,is one of the largest in the equipment industry with combined1998 revenue of approximately $12 billion. The multiple brandsand corresponding distribution networks of both the New Hollandand Case organizations will be maintained in the marketplace. The merger agreement was announced by the two companies in May1999. In late October and early November, the merger receivedclearance from regulatory agencies in Europe and the UnitedStates. Under the terms of the agreement, Case shareholders, whoapproved the transaction in August, will receive $55 per share. The two companies share long histories in the equipmentindustry. Case was founded in 1842 near Racine, Wisconsin, byJerome Increase Case. The company first made grain threshingmachines. Through expansion and acquisition, the companydeveloped a broad line of agricultural equipment, while alsobecoming the leading supplier of small- to medium-sizedconstruction equipment. Case Capital, the company's financialservices business, began in 1957. New Holland was formed in 1991 from the merger of Ford NewHolland and Fiat Geotech. Predecessor company Braud began themanufacture of agricultural equipment in France in 1870, and theNew Holland Machine Company followed in 1895. New Holland hasrapidly established a significant global presence in agriculturalequipment and a growing presence in the construction equipmentindustry. New Holland is a world leader in the design and manufacture ofa full line of agricultural and construction equipment, andoffers a rapidly expanding line of financial services in many ofits markets. With revenues of $5.7 billion in 1998, the companyand its joint venture partners operate in 160 countries through anetwork of approximately 6,100 dealers and distributors. Case Corporation is a leading worldwide designer, manufacturerand distributor of agricultural and construction equipment, andoffers a broad array of financial products and services.Headquartered in Racine, Wisconsin, Case had 1998 revenues of$6.1 billion and sells its products in 150 countries through anetwork of approximately 4,900 independent dealers. ots OriginalText Service: New Holland N.V. Internet:http://www.newsaktuell.de Contact: Jeffrey Walsh, MediaRelations of New Holland N.V., 44-181-479-8809, or fax, 44-181-479-8626, or email, JWALSH@NEWHOLLAND.COM

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