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: July 13, 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:  July 13, 1998

NEWCOURT CREDIT GROUP INC.


By: John P. Stevenson			
Corporate Secretary			



	News Release

For immediate release

Trading Symbol:	NCT              Contact:	Robyn Matsumoto	
Exchange Listings:	 Toronto	              Corporate Affairs
                   	Montreal	             (416) 594-5308
                   	New York	
			
Canadian-based Newcourt jumps to second largest 
       North American asset-based lender 
Industry nears US$300 billion with record growth 
              of 23.3% in 1997 volume 

Toronto, July 13, 1998 - In a recently published 
survey by the U.S. financial industry newspaper 
The Monitor, Toronto-based Newcourt vaulted to 
the second largest asset-based finance company 
and maintained its market leading position as the 
largest "Independent" for the second straight 
year. The annual survey ranks the largest 100 
companies operating in North America specializing 
in providing equipment-related loans and leases.

The survey segments data by financial institution 
ownership:  US Industrial Affiliates; US Bank 
Affiliates; Independents; Foreign Affiliates; and 
Captives.

The Monitor, recognizing Newcourt's January 1998 
acquisition of AT&T Capital, as "all but 
completed by year-end", combined the two 
companies' 1997 results for the purpose of the 
survey. Newcourt reported net assets in excess of 
US$20.2 billion for 1997, an increase of more 
than 22% over the same period last year. Overall, 
Newcourt now ranks second behind GE Capital 
compared to 13th place in 1996. 

Newcourt gaining ground with new business volume
In terms of new business volume, Newcourt earned 
the second spot overall, up from its seventh 
place ranking in 1996.  Newcourt generated loan 
originations totaling more than US$11.8 billion 
in 1997, up more than 27% from US$9.2 billion for 
the same period in 1996.  Volume growth numbers 
are considered the most indicative of industry 
trends, and Newcourt's gain was the largest 
percentage increase. 



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Industry volume growth forecast to exceed US$162 
billion for 1998
The survey reports that in 1997, the asset-based 
finance industry in the U.S. grew to US$299 
billion and originated US$136 billion in new 
business, an increase of 17% and 23% respectively 
from 1996's results.  The Monitor's analysis of 
survey responses indicated the industry as a 
whole would reach total net assets of $350 
billion in 1998 with annual volume of $162 
billion produced during the current year.  If 
achieved, these results would represent an 
increase of 17% and 19% respectively.  

The Monitor is published bimonthly by Molloy 
Associates of Ardmore, Pennsylvania.  1997 marks 
the seventh anniversary of the "Monitor 100" 
annual survey.  The survey is based on data 
provided to the publication from companies across 
North America.

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 (US$22.4 
billion) and a global distribution capability in 
24 countries.



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