FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of a Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month(s) of: September 22, 1999
NEWCOURT CREDIT GROUP INC.
Newcourt Centre, 207 Queens Quay West
Suite 700
Toronto, Ontario
Canada, M5J 1A7
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F / / Form 40-F /X/
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
Yes / / No /X/
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b)]
82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: September 22, 1999
NEWCOURT CREDIT GROUP INC.
/__________________________/
By: John P. Stevenson
Corporate Secretary
Canadian Quotes from Telenium
NCT. (TSE) NCT. (ME)
Other symbols
NCT (NYSE)
Attention Business Editors:
Newcourt Corrects Inaccuracies in the Globe & Mail's Report on Business
TORONTO, ON, September 22, 1999 /CNW/ - Newcourt Credit Group Inc. said
today that the news story appearing in the Globe & Mail of Wednesday
September 22, 1999 claiming that a decline in Newcourt's share price
would result in a reduction in the share exchange ratio under the
merger agreement between Newcourt and The CIT Group Inc. (CIT: NYSE)
was totally inaccurate and misrepresents the terms of the agreement
between the two companies.
Contrary to the Globe & Mail story, changes in Newcourt's share price
have no impact whatsoever on the share exchange ratio. Under the terms
of the merger agreement, adjustments to the share exchange ratio
- - if any - would be caused by a decrease in Newcourt's adjusted net
worth as defined by the agreement.
The Company also said that it regretted any confusion or uncertainty
caused by the Globe & Mail story and encourages shareholders to consult
the joint Newcourt/CIT Management Proxy Circular for information
about the merger and not to rely on erroneous press reports in the Globe &
Mail.
The joint Circular will be mailed within the next week.
The Company also noted that no one from the Globe & Mail had contacted
Company officials to confirm the accuracy of the Globe's understanding
of the merger agreement.
- -30-
For further information: Media Contacts: Carolyn Conner, (416) 507-
5239; Investor Contacts: Geoff Ichii, (416) 507-6151
