Case Credit and UFB LOCABAIL Launch Case Credit Europe.

RACINE, Wis.--(BUSINESS WIRE)--Sept. 10, 1997--

The First Pan-European Finance Company To Serve

Both Agricultural and Construction Equipment Markets

Case Credit Corporation, the financial services arm of Case Corporation (NYSE:CSE) and one of the world's largest equipment financing companies, and UFB LOCABAIL SA, a subsidiary of Compagnie Bancaire, today announced that the two companies have entered into a joint venture to provide financing for Case's European dealers and retail customers. This new venture, called Case Credit Europe S.A.S., will be the first pan-European finance organization to serve both the agricultural and construction equipment markets.

"This is another significant initiative in support of Case Credit's growth strategy," stated Ted R. French, Case Credit chairman and Case Corporation senior vice president and chief financial officer. "It builds on our announcement last month that Case Credit will offer financing to North American manufacturers, dealers and retail purchasers of industrial equipment powered by Cummins engines. Expanding both our focus and scope should enhance our ability to offer a competitive range of financial services and to make a stable, growing contribution to Case Corporation."

Case Credit Europe will offer a broad range of financial services designed to maximize our customers' productivity and success, including flexible installment sales financing; casualty, property and life insurance; leasing and other financial services.

"This joint venture is another important step in Case's strategy for Europe," stated French. "UFB LOCABAIL and Case Credit form a powerful partnership. We both are experts specialized in equipment financing, and we have worked together successfully for over 30 years. We are confident that this move will help insure that we provide our Case, Steyr and Fermec equipment customers with total solutions, including equipment, parts, service and financing, while also significantly increasing shareholder value for Case Corporation." Case Credit Europe is in the process of establishing dedicated teams in each country to help ensure consistently high levels of service for its customers. Initially, Case Credit Europe will operate in the UK, France and Germany. Operations began this summer in Great Britain, with France to follow in the fourth quarter of 1997. German operations are scheduled to begin in the first quarter of 1998.

"The major innovation of this joint venture is its pan-European scope," said Francois Dambrine, president of UFB LOCABAIL. "We believe that by bringing together our expertise -- an in-depth understanding of the European markets, a comprehensive product range, an organization totally dedicated to superior client service and state-of-the-art technology -- and the worldwide reach of Case Credit, we will be able to offer a broad range of financial solutions adapted to the specific needs of Case customers in Europe."

UFB LOCABAIL, a wholly owned subsidiary of Compagnie Bancaire, has over 50 years' experience providing specialized financial services to businesses in Europe. Based in Paris, France, UFB LOCABAIL services approximately 130,000 companies through 60 branches in France and subsidiaries in the six main European countries. UFB LOCABAIL services a $5 billion portfolio of receivables and leases. Compagnie Bancaire, one of Europe's leading financial services groups, has total loans outstanding of $36 billion.

"This is a strategic move that will help ensure Case Credit's long-term growth and success ... one which will help us sustain the momentum that has enabled us to grow our serviced portfolio 65 percent since Case Corporation emerged as a public company in 1994," stated Ken Gangl, president and chief executive officer of Case Credit Corporation.

Case Credit Corporation, a wholly owned subsidiary of Case Corporation, has been serving the financial needs of Case customers since 1957. Case Credit financial services are available in select markets around the world. Today, the company provides financing to 175,000 customers purchasing and leasing agricultural and construction equipment through established dealer networks located primarily in North America and Australia. Based in Racine, Wisconsin, Case Credit services a $4.8 billion portfolio of receivables and leases. Case Corporation, with revenues of $5.4 billion in 1996, is a leading designer, manufacturer and distributor of agricultural and construction equipment.

CONTACT: Case Credit Corporation

Sandra J. Lasch, 414/636-6473

or

UFB LOCABAIL, Paris

Catherine Toulemonde, 33/01-41-42-65-32

or

Case Corporation

William B. Masterson, 414/636-5793

or

Case Corporation, Paris

Daniel Laugerotte, 33/01-49-90-24-57