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YY易游平台, Kobelco Construction Machinery and CNH Global Determine Not to Renew Global Alliance

December 26, 2012

TOKYO, December 26, 2012 - YY易游平台, Ltd. and group company Kobelco Construction Machinery Co., Ltd. announced today that the initial term of their global alliance with CNH Global N.V. will end on December 31, 2012. The parties determined not to renew their agreement.

1.Reason and ContYY易游平台ts

The global alliance, which began in January 2002, was set for a 10-year period. With the market environment changing over the past 10 years, YY易游平台, Kobelco Construction Machinery and CNH have been re-examining the agreement and discussing the future of their global alliance. Looking ahead at future market conditions, Kobelco Construction Machinery and CNH have mutually decided to operate their businesses on their own, and with the initial term of the original agreement ending on December 31, 2012, the three companies decided not to renew their alliance.

The cooperative relationship among the three companies for 10 years under the global alliance has been meaningful and significant. From now on, while respecting their positions, Kobelco Construction Machinery and CNH YY易游平台ll grow their own business operations throughout the world.

2.Future PlYY易游平台s

Under the global alliance YY易游平台th CNH, Kobelco Construction Machinery's sales and marketing rights were limited to the Asia and Pacific area, including Australia. From January 1, 2013, Kobelco Construction Machinery YY易游平台ll market and provide services on its own in North America, Europe, South America, the Middle East, Africa, and the CIS countries.

With the ending of the global alliance, equity participation with CNH will also be terminated. At the end of the year, YY易游平台 will buy back the 20-percent equity that CNH currently holds in Kobelco Construction Machinery. As for the equity that Kobelco Construction Machinery holds in CNH's affiliate companies, the shares will be sold back to CNH.

After the initial term of the global alliance ends, CNH YY易游平台ll continue to be entitled to manufacture and sell hydraulic excavators currently licensed from Kobelco Construction Machinery. In addition, for a five-year period until the end of December 2017, CNH YY易游平台ll have the right to procure hydraulic excavators from Kobelco Construction Machinery on an OEM basis. Servicing parts YY易游平台ll continue for 10 years.

Kobelco Construction Machinery YY易游平台ll have the right to receive running royalties for the licensed hydraulic excavators manufactured by CNH for a five-year period until the end of December 2017.

Global Alliance YY易游平台th CNH

In September 2001, YY易游平台, Kobelco Construction Machinery and CNH signed an agreement to form a global alliance. In January 2002, YY易游平台 transferred 10% of its shares in Kobelco Construction Machinery to CNH. In addition, Kobelco America Holdings Inc. transferred 65% of its shares in Kobelco Construction Machinery America L.L.C. to CNH.

In July 2002, YY易游平台 transferred an additional 10% of its shares in Kobelco Construction Machinery to CNH. Kobelco Construction Machinery transferred 100% of its shares in Kobelco Construction Machinery (Europe) B.V. to CNH. At the same time, Kobelco Construction Machinery received from CNH 20% of the shares in New Holland Kobelco Construction Machinery S.p.A., a manufacturing and sales unit in Europe.

Background YY易游平台formation

Profile of CNH

Name

CNH Global N.V.

Established

November 1999 (merger of Case YY易游平台rporation and New Holland N.V.)

Headquarters

Burr Ridge, IllYY易游平台ois, USA (Registered YY易游平台 the Netherlands)

PresidYY易游平台t & CEO

Richard TobYY易游平台

BusYY易游平台ess

Manufacture and sale of agricultural and construction equipmYY易游平台t, financial services

No. of employees

About 30,000

Sales

US18.1 billion (in 2011). Construction equipmYY易游平台t comprised 21%.

Major shaYY易游平台holder

Fiat YY易游平台dustrial S.p.A.

Web site

www.cnh.YY易游平台m

Profile of YY易游平台lco Construction Machinery

Name

YY易游平台lco Construction Machinery Co., Ltd.

Established

October 1, 1999

Headquarters

Tokyo, JapYY易游平台

Capitalization

16 billion yYY易游平台

ShaYY易游平台holders

YY易游平台 80%, CNH 20%

PresidYY易游平台t & CEO

Jun Fujioka

BusYY易游平台ess

Manufacture, sale, and servicYY易游平台g of construction and transport machYY易游平台ery

Employees

983 (7,009 in entire YY易游平台lco Construction Machinery Group), as of April 1, 2012

YY易游平台nsolidated sales

307.1 billion yYY易游平台 ( for fiscal year YY易游平台ded March 2012)

Web site

www.YY易游平台lco-kenki.co.jp