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 25, 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 25, 1998

NEWCOURT CREDIT GROUP INC.


By: John P. Stevenson			
Corporate Secretary			



  	                                  
News Release
For immediate release

          American Crystal Sugar	Company        	Newcourt Credit Group
Contact: 	Jeff Schweitzer	                       Contact:	Robyn Matsumoto	
         	Public Relations Manager                       	Corporate Affairs
         	218-236-4492                                   	(416) 594-5308

Trading Symbol:		NCT
		Exchange Listings:	Toronto	
                					Montreal
               						New York		

American Crystal Sugar Company and Newcourt
Capital to build $103 million Molasses Desugarization Project

Moorhead, Minnesota and New York, New York, June 
25, 1998 - American Crystal Sugar Company and 
Newcourt Capital today announced the construction 
of a $103 million molasses desugarization project 
located in Hillsboro, North Dakota, adjacent to 
one of American Crystal's five sugar factories in 
the region.

The facility will extract residual sugar from 
molasses, which is a by-product of the company's 
primary sugarbeet production process.  American 
Crystal currently operates one molasses 
desugarization facility at its East Grand Forks, 
Minnesota plant.  Construction of the project 
will begin immediately with completion expected 
by fall of 1999. 

"Construction of a second molasses desugarization 
facility has always been part of the company's 
strategic plan," said James Horvath, American 
Crystal Sugar President and CEO.  "By partnering 
with Newcourt we were able to accelerate this 
project earlier in our plan and realize the 
benefits from it sooner, without compromising any 
of our other current capital initiatives." 

Newcourt Capital structured the $103 million 
transaction.  The majority of financing was 
funded through the Newcourt Capital Project Fund, 
a $500 million fund, which provides one-stop 
access to funds from eight leading U.S. 
institutional investors including CIGNA, John 
Hancock and New York Life. The financing is 
supported by a long-term "use-or-pay" tolling 
arrangement with American Crystal.

"Financing for the $103 million project was 
structured to meet American Crystal's off-balance 
sheet objective and to maximize the company's 
implicit return from the project," commented 
Robert Sexton, a Director with Newcourt Capital's 
global project finance unit.  "Our funding 
partners were very comfortable with the strength 
of the project and the quality of the project 
sponsor, American Crystal."


Process Systems Incorporated Construction 
Company, a subsidiary of Lurgi, AG, the 
engineering and construction business unit of 
Metalgesellschaft AG of Germany, has been engaged 
under an Engineering, Procurement and 
Construction contract to build the facility.  The 
technology to be employed is a chromatographic 
separation process developed by Amalgamated 
Research Inc. and licensed to Idreco USA, Ltd. 

American Crystal Sugar Company is an agricultural 
cooperative owned by approximately 2,800 farm 
families in the Red River Valley (Minnesota and 
North Dakota) involved in the growing and 
processing of sugarbeets.  American Crystal is 
the largest beet sugar producer in the U.S. and 
is one of the lowest cost beet sugar producers in 
the world.  American Crystal operates sugar 
factories at East Grand Forks, Crookston and 
Moorhead, Minnesota, and Drayton and Hillsboro, 
North Dakota.  Its corporate headquarters and 
research facilities are located in Moorhead.

Newcourt Capital is a leader in corporate finance 
providing specialized asset-based financing to 
the corporate, government and institutional 
markets for capital equipment acquisitions and 
infrastructure development. Together with 
Newcourt Financial and Newcourt Services, it 
forms Newcourt Credit Group, one of the world's 
leading sources of asset-based financing with 
owned and managed assets of US$22.4 billion 
(C$31.9 billion) and a global distribution 
capability in 24 countries.





	News Release

For immediate release

Trading Symbol:	NCT         	Contact:	Robyn Matsumoto
Exchange Listings:	Toronto		          Corporate Affairs 
                  	Montreal         		(416) 594-5308
                  	New York		

Newcourt Capital Launches US$500 Million Railcar 
Leasing Venture with Trinity 
Industries and Chrysler Capital Corporation 

Positions Newcourt as a Leading Railcar Lessor

Chicago, Illinois, June 25, 1998 - Newcourt 
Capital today announced the establishment of  
Newcourt Rail LLC., a $500 million venture that 
will offer for lease a fleet of state-of-the-art 
Trinity-built railcars.

Newcourt Capital will manage the rail company's 
assets on behalf of the investors including 
Chrysler Capital Corporation, the lead equity 
investor.  Newcourt Capital will hold a minority 
interest in the venture and will underwrite and 
arrange the joint venture's debt requirements.

"This venture represents a unique strategic 
alliance between Newcourt Rail and Trinity 
Industries.  We selected Trinity as the primary 
supplier of new railcars based on the quality and 
breadth of its products which distinguish them as 
North America's leading railcar manufacturer," 
said Steve Menzies, Managing Director of Newcourt 
Capital's rail finance unit. "Newcourt has 
established itself as a major financial partner 
to the rail industry.  This alliance with Trinity 
is further evidence of our commitment to the 
industry."

"Newcourt Rail LLC combines our financial 
structuring and asset management capabilities to 
provide a new business for Newcourt and an 
innovative investment vehicle for our 
institutional partners," said David McKerroll, 
President of Newcourt Capital.  "The affiliation 
with Trinity is in line with Newcourt's strategy 
of forming alliances with leading capital 
equipment manufacturers to provide new sources of 
financing originations."

Tim Wallace, President and Chief Operating 
Officer of Trinity Industries, Inc. said, "We are 
pleased to be chosen as the railcar provider to 
Newcourt Rail.  This type of venture continues to 
demonstrate our commitment to excellence in 
railcar design and manufacturing technologies."






"Chrysler Capital is pleased to have entered into 
this alliance with Newcourt and Trinity, and we 
look forward to a long and beneficial 
relationship," said Bill Bishop, President of 
Chrysler Capital Corporation, an indirect wholly 
owned subsidiary of Chrysler Corporation.

The new rail leasing venture will offer a broad 
range of railcars including aluminum coal, box, 
flat, covered hoppers, gondolas, and tank cars on 
short-term operating leases that include 
maintenance and other management services.  The 
newly built railcars will incorporate the latest 
technological improvements and will be marketed 
to a variety of users including Class I and 
regional rail carriers, utilities, petrochemical 
producers, food producers and processors and 
industrial producers.

"The continued development of the North American 
rail transportation industry provides an exciting 
opportunity for Newcourt Capital," commented 
Menzies.  "Newcourt Rail uniquely positions us to 
offer our clients short-term operating leases in 
addition to the long-term financing, lease and 
cross-border tax structures we currently offer."  

Trinity Industries Inc. with headquarters in 
Dallas, Texas, is one of the nation's leading 
diversified industrial manufacturers.  Trinity 
principally operates in three business segments: 
Transportation Products, Construction Products 
and Industrial Products.

Newcourt Capital is a leader in corporate finance 
providing specialized asset-based financing to 
the corporate, government and institutional 
markets for capital equipment acquisitions and 
infrastructure development. Together with 
Newcourt Financial and Newcourt Services, it 
forms Newcourt Credit Group, one of the world's 
leading sources of asset-based financing with 
owned and managed assets of US$22.4 billion 
(C$31.9 billion) and a global distribution 
capability in 24 countries.



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