Correction: Fitch IBCA Expects To Rate ORIX Series 2000-A.

Business Editors

Note to editors: Correction in line 2: Issuer is ORIX  Credit

Alliance Receivables Trust not ORIX Credit Alliance, Inc. (BW0452)

NEW YORK--(BUSINESS WIRE)--Feb. 24, 2000

Fitch IBCA expects to rate ORIX Credit Alliance Receivables Trust's, series 2000-A $95.8 million class A-1 notes `F1+/AAA', $50.8 million class A-2 notes `AAA', $113 million class A-3 notes `AAA', $14.6 million class A-4 notes `AAA', $8.7 million class B notes `A', and $4.3 million class C notes `BBB'. The expected ratings on the proposed transaction are based on information provided to Fitch IBCA by the company as of Feb. 24, 2000, and may be subject to change upon receipt of additional material information.

ORIX Credit Alliance Inc., through ORIX Credit Alliance Receivables Trust, series 2000-A, will issue approximately $287 million in receivable-backed notes. The ratings reflect the quality of the receivables, the financial and legal structure of the transaction, and the servicing quality of ORIX.

The class A ratings are supported by the 6.50% credit enhancement provided by the subordination of the 3.00% class B notes, the 1.50% class C notes, the 0.50% trust certificates, and a 1.50% reserve account. The class B rating is supported by the 3.50% credit enhancement provided by the subordination of the 1.50% class C notes, the 0.50% trust certificates, and the 1.50% reserve account. The class C rating is supported by the 2.00% credit enhancement provided by the subordination of the 0.50% trust certificates and the 1.50% reserve account. The ratings address the receipt of timely interest and the full and ultimate payment of principal by legal final maturity.

Legal final maturity dates are as follows:

Class A-1 notes due March 15, 2001,

Class A-2 notes due April 15, 2002,

Class A-3 notes due May 15, 2004,

Class A-4 notes due March 15, 2005,

Class B notes due Sept. 15, 2005,

Class C notes due Nov. 15, 2007.

At closing, the reserve account will be funded in an amount equal to 1.50% of the original principal balance of the notes, and is expected to build to 3% within a short period of time. Additional deposits will be required to increase the reserve amount to the greater of (1) 3% of the outstanding principal amount of the notes and (2) the lesser of (a) 1% of the initial principal of the notes and (b) the outstanding principal of the notes.

Additionally, excess spread will be trapped and used to fund a separate spread account in the event certain performance triggers are reached.

There are 4,387 contracts in the pool, representing an original principal balance of approximately $288.5 million. The average contract principal balance is approximately $66,000. The weighted average remaining term of the contracts is approximately 37 months, and at closing the pool will have roughly 14 months seasoning. The pool is diversified in terms of individual obligors and geographic location. Approximately 45% of the aggregate principal balance relate to trucking and transportation equipment. However, the underlying obligors and industries for which this equipment is used are well diversified.

As a result of the significant obligor diversification within the transaction, Fitch IBCA used a loss approach to determine credit enhancement levels. ORIX provided static loss data on originations from 1988 through 1998. This data includes figures from the early 90's, which incorporate the last recession. Based on the statistics provided by the company, a 1.25% net loss proxy was used as a single `B' rating level base case for analytical purposes in this transaction.

Fitch IBCA required loss coverage of 5.63% for the `AAA' stress test. The `A' stress test required coverage of 3.75% losses. The `BBB' stress test required coverage of 3.13% net losses. Under each scenario, the applicable notes were repaid in full prior to the legal final maturity date, given the structure and credit enhancement.

Established in 1963 and headquartered in Secaucus, NJ, ORIX Credit Alliance is a commercial finance company focused on providing secured loan and lease financing of low-obsolescence, income producing, labor-saving equipment for middle market companies in the U.S. and Canada.

Fitch IBCA's Financial Institutions Group rates ORIX Credit Alliance's senior notes `BBB+' and commercial paper `F2'. For a more detailed description of the company and its business, please refer to the `ORIX Credit Alliance, Inc.' report dated Aug. 26, 1999, located on Fitch IBCA's web site at `www.fitchibca.com'.