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: June 15, 1998


NEWCOURT CREDIT GROUP INC.

BCE Place, 181 Bay Street
Suite 3500, P.O. Box 827
Toronto, Ontario
Canada, M5J 2T3


[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:  June 15,1998

NEWCOURT CREDIT GROUP INC.


By: John P. Stevenson
Corporate Secretary

		
News Release
For immediate release

Newcourt Credit Group
Trading Symbol:  NCT                   Contact:  John Sadler
Exchange Listings:  Toronto                      Executive Vice President 
                    Montreal                     Corporate Affairs
                    New York                     (416) 594-2400

Gentra 
Trading Symbol:  GTA                   Contact:  David Arthur
Exchange Listings:  Toronto                      President and CEO
                                                 (416) 359-8537

Newcourt plans move to Gentra's Queen's Quay Terminal

TORONTO, June 15, 1998 - Newcourt Credit Group 
and Gentra Inc. announced today that Newcourt, 
one of the world's largest commercial and 
corporate finance companies, will relocate its 
Toronto head office from BCE Place to Queen's 
Quay Terminal, owned by Gentra, in early 1999.

Newcourt, which currently occupies 125,000 square 
feet (41/2 floors) in BCE Place, requires 
additional space to accommodate the Company's 
continued growth.  Located on Toronto's 
attractive waterfront and with ready access to 
the city's main mass transportation hub, Union 
Station, Queen's Quay Terminal will be renamed 
Newcourt Centre.  

Gentra, which bought Queen's Quay Terminal in 
1997 for $58 per square foot, has initiated a 
redevelopment program to upgrade the building's 
quality and profile.  The Newcourt lease brings 
the occupancy rate to over 90% and secures
Newcourt's long term commitment to the building.

"The addition of Newcourt as a major tenant at 
Queen's Quay further supports our strategy to 
reposition and enhance the value of our 
properties," said David Arthur, President and CEO 
of Gentra.  

Over the past year, Newcourt has acquired 5 
companies, including Commcorp Financial Services 
of Burlington, Ontario and New Jersey-based AT&T 
Capital, and inherited Toronto-area offices in 
Burlington and Markham.  In an effort to have as 
many of its employees together as possible, 
Newcourt will consolidate its three exiting 
Toronto-area offices into two locations.  Queen's 
Quay Terminal is the first of these sites to be 
identified.  The second location planned for 
Burlington will be confirmed later this year. 




"We're excited about our new home and delighted 
that it will bear the Newcourt name.  This 
building, with its unique structure and location, 
is a perfect fit for an innovative company like 
ours," said Borden Rosiak, Newcourt's Executive 
Vice President. 

"This move will allow us to achieve efficiencies, 
bring together employees currently separated by 
geography, and accommodate our long term growth.  
In addition, when compared to the cost of our 
current facilities this relocation will result in 
substantial savings over the 10 year term of the 
lease."

Gentra is a real estate investment company 
consisting of 8.1 million square feet of 
commercial real estate including a number a 
number of landmark office and retail properties.  
Gentra actively acquires real estate properties 
for both repositioning and long term strategic 
purposes.  Gentra also conducts a commercial 
finance business providing specialty financing to 
the real estate industry. 

Newcourt is one of the world's leading sources of 
asset-based financing serving the corporate, 
commercial and institutional markets with owned 
and managed assets of $31.9 billion and a global 
distribution capability in 24 countries.


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