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: October 28, 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: October 28, 1999
NEWCOURT CREDIT GROUP INC.
/__________________________/
By: Scott J. Moore
Executive Vice President, Legal
and General Counsel and Secretary
News Release
For immediate release:
Trading Symbol: NCT Contact: Carolyn Conner
Exchange Listing: Toronto (416) 507-5239
Montreal
New York
Newcourt and Lucent Extend Vendor Financing Program to end of 2003
Parsippany, New Jersey, October 28, 1999 - Newcourt Financial, the
commercial finance business of Newcourt Credit Group, and Lucent
Technologies (NYSE: LU) today announced a one year extension to their
multi-billion dollar vendor finance program established to serve
Lucent's business systems customers.
Under the program, originally signed in1998, Newcourt is the global
manager of Lucent Technologies Product Finance, a program that
provides leasing services to Lucent's business customers worldwide.
"Our relationship with Newcourt has exceeded expectations," said Bill
Carapezzi, Vice President and Treasurer of Lucent. "LTPF continues to
achieve its aggressive financial targets and Lucent is very satisfied
with its ability to meet our customers' financing needs. We are
highly confident in Newcourt's abilities, which is the basis of our
extension of the original agreement, and we look forward to continued
success under the CIT banner."
"The extension of our Lucent relationship is testimony to the success
that we have seen thus far," said Bradley Nullmeyer, President of
Newcourt Financial. "In its first year of operations LTPF provided
more than $1 billion in financing to Lucent customers worldwide. The
program services Lucent, directly or indirectly, in each country where
they do business."
Albert R. Gamper, Jr., President and CEO of The CIT Group, Inc. (NYSE:
CIT), which has received shareholder and regulatory approvals to
acquire Newcourt, said, "We are excited and pleased by Lucent's
contract extension. We see it as a strong vote of confidence for an
organization that will increase, not only in size and strength, but
also in servicing capability, and we look forward to increasing our
relationship with Lucent."
Newcourt Credit Group is one of the world's leading sources of asset-
based financing serving the corporate and commercial markets with a
global capability in 26 countries. Newcourt and CIT recently announced
that they had signed an agreement to combine the two companies to
create the largest publicly owned commercial finance company with over
US$50 billion in managed financial assets. The acquisition is
expected to close during the fourth quarter.
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