CREDITSUISSE FIRST BOSTONPAGE 1

AMERICAN HONDA FINANCECORPORATIONAnnual Statement to Certificateholder—Honda AutoReceivables 2005-4 Owner Trust04/01/05 through03/31/06

|                                                   |  |  |                   |  |  |  |  |        |  |
|---------------------------------------------------|--|--|-------------------|--|--|--|--|--------|--|
| I.ORIGINAL DEAL PARAMETER INPUTS                  |  |  |              |  |  |  |  |   |  |
| (A) TotalPortfolio Balance                        |  |  | $1,547,814,477.92 |  |  |  |  |   |  |
| (B)Total Securities Balance                       |  |  | $1,547,814,477.92 |  |  |  |  |   |  |
| (C) Class A-1Notes                                |  |  |              |  |  |  |  |   |  |
| (i) ClassA-1 NotesBalance                         |  |  | $347,000,000.00   |  |  |  |  |   |  |
| (ii) ClassA-1 Notes Percentage (C(i)/B)           |  |  | 22.42%            |  |  |  |  |   |  |
| (iii) Class A-1 NotesRate                         |  |  | 3.82720%          |  |  |  |  |   |  |
| (iv) ClassA-1 Notes Accrual Basis                 |  |  | Actual/360        |  |  |  |  |   |  |
| (D)Class A-2 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-2Notes Balance                        |  |  | $409,000,000.00   |  |  |  |  |   |  |
| (ii)Class A-2 Notes Percentage (D(i)/B)           |  |  | 26.42%            |  |  |  |  |   |  |
| (iii) Class A-2 NotesRate                         |  |  | 4.320%            |  |  |  |  |   |  |
| (iv) Class A-2Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (E)Class A-3 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-3Notes Balance                        |  |  | $433,000,000.00   |  |  |  |  |   |  |
| (ii)Class A-3 Notes Percentage (E(i)/B)           |  |  | 27.97%            |  |  |  |  |   |  |
| (iii) Class A-3 NotesRate                         |  |  | 4.460%            |  |  |  |  |   |  |
| (iv) Class A-3Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (F)Class A-4 Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-4Notes Balance                        |  |  | $306,960,000.00   |  |  |  |  |   |  |
| (ii)Class A-4 Notes Percentage (F(i)/B)           |  |  | 19.83%            |  |  |  |  |   |  |
| (iii) Class A-4 NotesRate                         |  |  | 4.600%            |  |  |  |  |   |  |
| (iv) Class A-4Notes Accrual Basis                 |  |  | 30/360            |  |  |  |  |   |  |
| (G)Certificates                                   |  |  |              |  |  |  |  |   |  |
| (i) CertificatesBalance                           |  |  | $51,854,477.92    |  |  |  |  |   |  |
| (ii)Certificates Percentage (G(i)/B)              |  |  | 3.35%             |  |  |  |  |   |  |
| (iii) CertificatesRate                            |  |  | 4.600%            |  |  |  |  |   |  |
| (iv)Certificates Accrual Basis                    |  |  | 30/360            |  |  |  |  |   |  |
| (H)Servicing FeeRate                              |  |  | 1.00%             |  |  |  |  |   |  |
| (I)Portfolio Summary                              |  |  |              |  |  |  |  |   |  |
| (i) WeightedAverage Coupon (WAC)                  |  |  | 3.98%             |  |  |  |  |   |  |
| (ii) Weighted AverageOriginal Maturity (WAOM)     |  |  | 57.30             |  |  |  |  | months |  |
| (iii) Weighted AverageRemaining Maturity (WAM)    |  |  | 50.31             |  |  |  |  | months |  |
| (iv) Number ofReceivables                         |  |  | 97,847            |  |  |  |  |   |  |
| (J) ReserveFund                                   |  |  |              |  |  |  |  |   |  |
| (i) Reserve Account InitialDeposit Percentage     |  |  | 0.50%             |  |  |  |  |   |  |
| (ii) Reserve AccountInitial Deposit               |  |  | $7,739,072.39     |  |  |  |  |   |  |
| (iii) Specified ReserveAccountPercentage          |  |  | 0.50%             |  |  |  |  |   |  |
| (iv)Specified Reserve AccountBalance              |  |  | $7,739,072.39     |  |  |  |  |   |  |
| (K)Yield Supplement Account Deposit               |  |  | $72,610,130.63    |  |  |  |  |   |  |
| II.INPUTS FROM PREVIOUS MONTHLY SERVICERREPORTS   |  |  |              |  |  |  |  |   |  |
| (A) Total PortfolioBalance                        |  |  | $1,547,814,477.92 |  |  |  |  |   |  |
| (B) TotalSecurities Balance                       |  |  | $1,547,814,477.92 |  |  |  |  |   |  |
| (C) CumulativeNote and Certificate Pool Factor    |  |  | 1.0000000         |  |  |  |  |   |  |
| (D) Class A-1Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-1 NotesBalance                        |  |  | $347,000,000.00   |  |  |  |  |   |  |
| (ii) ClassA-1 Notes Pool Factor                   |  |  | 1.0000000         |  |  |  |  |   |  |
| (iii) Class A-1 NotesInterest Carryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (iv) Class A-1 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (E) Class A-2Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-2 NotesBalance                        |  |  | $409,000,000.00   |  |  |  |  |   |  |
| (ii) ClassA-2 Notes Pool Factor                   |  |  | 1.0000000         |  |  |  |  |   |  |
| (iii) Class A-2 NotesInterest Carryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (iv) Class A-2 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (F) Class A-3Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-3 NotesBalance                        |  |  | $433,000,000.00   |  |  |  |  |   |  |
| (ii) ClassA-3 Notes Pool Factor                   |  |  | 1.0000000         |  |  |  |  |   |  |
| (iii) Class A-3 NotesInterest Carryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (iv) Class A-3 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |  |  |   |  |
| (G) Class A-4Notes                                |  |  |              |  |  |  |  |   |  |
| (i) Class A-4 NotesBalance                        |  |  | $306,960,000.00   |  |  |  |  |   |  |
|                                                   |

----

|                                                   |  |  |                |  |  |  |  |        |  |
|---------------------------------------------------|--|--|----------------|--|--|--|--|--------|--|
| (ii) Class A-4 Notes Pool Factor                  |  |  | 1.0000000      |  |  |  |  |   |  |
| (iii) Class A-4 NotesInterest Carryover Shortfall |  |  | $0.00          |  |  |  |  |   |  |
| (iv) Class A-4 Notes PrincipalCarryover Shortfall |  |  | $0.00          |  |  |  |  |   |  |
| (H)Certificates                                   |  |  |           |  |  |  |  |   |  |
| (i) CertificatesBalance                           |  |  | $51,854,477.92 |  |  |  |  |   |  |
| (ii)Certificates Pool Factor                      |  |  | 1.0000000      |  |  |  |  |   |  |
| (iii) Certificates InterestCarryover Shortfall    |  |  | $0.00          |  |  |  |  |   |  |
| (iv)Certificates Principal Carryover Shortfall    |  |  | $0.00          |  |  |  |  |   |  |
| (I) ServicingFee                                  |  |  |           |  |  |  |  |   |  |
| (i) Servicing FeeShortfall                        |  |  | $0.00          |  |  |  |  |   |  |
| (J) End of PriorMonth Account Balances            |  |  |           |  |  |  |  |   |  |
| (i) ReserveAccount                                |  |  | $7,739,072.39  |  |  |  |  |   |  |
| (ii) YieldSupplement Account                      |  |  | $72,610,130.63 |  |  |  |  |   |  |
| (iii) PayaheadAccount                             |  |  | $0.00          |  |  |  |  |   |  |
| (iv) AdvancesOutstanding                          |  |  | $0.00          |  |  |  |  |   |  |
| (K)Portfolio Summary as of End of PriorYear       |  |  |           |  |  |  |  |   |  |
| (i) Weighted Average Coupon(WAC)                  |  |  | 3.98%          |  |  |  |  |   |  |
| (ii) WeightedAverage Remaining Maturity (WAM)     |  |  | 50.31          |  |  |  |  | months |  |
| (iii) Number ofReceivables                        |  |  | 97,847         |  |  |  |  |   |  |
| (L) Note andCertificate Percentages               |  |  |           |  |  |  |  |   |  |
| (i) NotePercentage                                |  |  | 100.00%        |  |  |  |  |   |  |
| (ii)Certificate Percentage                        |  |  | 0.00%          |  |  |  |  |   |  |
|                                                   |

----

CREDIT SUISSE FIRSTBOSTONPAGE 2

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder—Honda Auto Receivables2005-4 Owner Trust 04/01/05 through 03/31/06

|                                                                    |  |  |                 |  |  |  |  |        |  |
|--------------------------------------------------------------------|--|--|-----------------|--|--|--|--|--------|--|
| III.INPUTS FROM THE MAINFRAME                                      |  |  |            |  |  |  |  |   |  |
| (A) PrecomputedContracts Principal                                 |  |  |            |  |  |  |  |   |  |
| (i)Scheduled Principal Collections                                 |  |  | $0.00           |  |  |  |  |   |  |
| (ii)Prepayments in Full                                            |  |  | $0.00           |  |  |  |  |   |  |
| (iii)Prepayments in Full due to Repurchases                        |  |  | $0.00           |  |  |  |  |   |  |
| (B) Precomputed ContractsTotal Collections                         |  |  | $0.00           |  |  |  |  |   |  |
| (C)Precomputed Interest Receivables Interest (B-A((i)+(ii)+(iii))) |  |  | $0.00           |  |  |  |  |   |  |
| (D) SimpleInterest Receivables Principal                           |  |  |            |  |  |  |  |   |  |
| (i)Principal Collections                                           |  |  | $247,731,226.79 |  |  |  |  |   |  |
| (ii) Prepayments inFull                                            |  |  | $106,458,575.60 |  |  |  |  |   |  |
| (iii)Repurchased Receivables Related to Principal                  |  |  | $0.00           |  |  |  |  |   |  |
| (E) SimpleInterest Receivables Interest                            |  |  |            |  |  |  |  |   |  |
| (i)Simple Interest Collections                                     |  |  | $36,972,741.03  |  |  |  |  |   |  |
| (F)Payment Advance forPrecomputes                                  |  |  |            |  |  |  |  |   |  |
| (i) Reimbursement ofPrevious Advances                              |  |  | $0.00           |  |  |  |  |   |  |
| (ii)Current Advance Amount                                         |  |  | $0.00           |  |  |  |  |   |  |
| (G) Interest Advance forsimple Interest–Net                  |  |  | $304,676.53     |  |  |  |  |   |  |
| (H)Payahead Account                                                |  |  |            |  |  |  |  |   |  |
| (i) PaymentsApplied                                                |  |  | $0.00           |  |  |  |  |   |  |
| (ii) AdditionalPayaheads                                           |  |  | $0.00           |  |  |  |  |   |  |
| (I)Portfolio Summary as of End ofMonth                             |  |  |            |  |  |  |  |   |  |
| (i) Weighted Average Coupon(WAC)                                   |  |  | 3.97%           |  |  |  |  |   |  |
| (ii) WeightedAverage Remaining Maturity (WAM)                      |  |  | 42.75           |  |  |  |  | months |  |
| (iii) Remaining Number ofReceivables                               |  |  | 89,346          |  |  |  |  |   |  |
|                                                                    |

|                                                       |  |  |        |  |       |              |  |  |  |  |      |   |  |  |                |  |  |  |  |      |   |
|-------------------------------------------------------|--|--|--------|--|-------|--------------|--|--|--|--|------|---|--|--|----------------|--|--|--|--|------|---|
| (J)DelinquentReceivables                              |  |  | #Units |  |       | DollarAmount |
| (i) 30-59 Days Delinquent                             |  |  |        |  | 1,615 |              |  |  |  |  | 1.81 | % |  |  | $21,724,497.81 |  |  |  |  | 1.83 | % |
| (ii)60-89 Days Delinquent                             |  |  |        |  | 340   |              |  |  |  |  | 0.38 | % |  |  | $4,695,258.01  |  |  |  |  | 0.39 | % |
| (iii)90 Days or More Delinquent                       |  |  |        |  | 56    |              |  |  |  |  | 0.06 | % |  |  | $812,577.17    |  |  |  |  | 0.07 | % |
| (K)Vehicles Repossessed During CollectionPeriod       |  |  |        |  | 43    |              |  |  |  |  | 0.05 | % |  |  | $653,511.72    |  |  |  |  | 0.05 | % |
| (L)Total Accumulated Repossessed Vehicles inInventory |  |  |        |  | 65    |              |  |  |  |  | 0.07 | % |  |  | $982,936.57    |  |  |  |  | 0.08 | % |
|                                                       |

|                                                     |  |  |               |
|-----------------------------------------------------|--|--|---------------|
| IV. INPUTS DERIVED FROM OTHERSOURCES                |  |  |          |
| (A) Collection AccountInvestmentIncome              |  |  | $0.00         |
| (B)Reserve Account Investment Income                |  |  | $193,195.37   |
| (C) Yield Supplement AccountInvestment Income       |  |  | $1,540,466.42 |
| (D)Trust Fees Expense                               |  |  | $9,000.00     |
| (E)Aggregate Net Losses for Collection Period       |  |  | $2,227,146.09 |
| (F) LiquidatedReceivables Information               |  |  |          |
| (i) GrossPrincipal Balance on LiquidatedReceivables |  |  | $4,186,878.24 |
| (ii)Liquidation Proceeds                            |  |  | $1,684,207.68 |
| (iii) Recoveries from PriorMonth Charge Offs        |  |  | $275,524.47   |
| (G)Days in Accrual Period                           |  |  | 248           |
| (H) Dealage                                         |  |  | 8             |
|                                                     |

COLLECTIONS

|                                                                       |  |  |                 |
|-----------------------------------------------------------------------|--|--|-----------------|
| V. INTERESTCOLLECTIONS                                                |  |  |            |
| (A) Total Interest Collections(III(C+E(i)+G)                          |  |  | $37,277,417.56  |
| VI.PRINCIPAL COLLECTIONS                                              |  |  |            |
| (A) PrincipalPayments Received (III(A((i)+(ii))+(D(i)+(ii)))          |  |  | $354,189,802.39 |
| (B) Liquidation Proceeds(IV(H(i)))                                    |  |  | $1,684,207.68   |
| (C)Repurchased Loan Proceeds Related to Principal(III(A(iii)+D(iii))) |  |  | $0.00           |
| (D)Recoveries from Prior Charge Offs(IV(H(ii)))                       |  |  | $275,524.47     |
| (E) TotalPrincipal Collections (A+B+C+D)                              |  |  | 356,149,534.54  |
| VII. TOTALINTEREST AND PRINCIPAL COLLECTIONS (V(C)+VI(E))             |  |  | 393,426,952.10  |
| VIII. YIELDSUPPLEMENTDEPOSIT                                          |  |  | $26,733,460.02  |
| IX.TOTAL AVAILABLE AMOUNT (VII+VIII)                                  |  |  | 420,160,412.12  |
|                                                                       |

----

|                                                       |  |  |                |
|-------------------------------------------------------|--|--|----------------|
|                                                  |  |  |           |
| DISTRIBUTIONS                                         |
| X. FEE DISTRIBUTIONS                                  |  |  |           |
| (A) ServicingFee                                      |  |  |           |
| (i) Servicing Fee Due(I(H)/12)(II(B))+(II(H)(i))      |  |  | $9,274,282.48  |
| (ii)Servicing Fee Paid                                |  |  | 9,274,282.48   |
| (iii) ServicingFee Shortfall                          |  |  | $0.00          |
| (B) ReserveAccount Investment Income (IV(B))          |  |  | 193,195.37     |
| (C) Yield Supplement AccountInvestment Income (IV(C)) |  |  | 0.00           |
| (D)Trust Fees Expense(IV(D))                          |  |  | 9,000.00       |
| XI.DISTRIBUTIONS TONOTEHOLDERS                        |  |  |           |
| (A)Interest                                           |  |  |           |
| (i) Class A-1Notes                                    |  |  |           |
| (a) Class A-1 Notes InterestDue                       |  |  | $5,132,025.48  |
| (b) Class A-1 NotesInterest Paid                      |  |  | 5,132,025.48   |
| (c) ClassA-1 Notes Interest Shortfall                 |  |  | $0.00          |
| (ii) Class A-2Notes                                   |  |  |           |
| (a) Class A-2 Notes InterestDue                       |  |  | $12,024,600.00 |
| (b) Class A-2Notes Interest Paid                      |  |  | 12,024,600.00  |
| (c)Class A-2 Notes Interest Shortfall                 |  |  | $0.00          |
| (iii) Class A-3Notes                                  |  |  |           |
| (a) Class A-3 Notes InterestDue                       |  |  | $13,142,752.80 |
| (b) Class A-3Notes Interest Paid                      |  |  | 13,142,752.80  |
| (c)Class A-3 Notes Interest Shortfall                 |  |  | $0.00          |
| (iv) Class A-4Notes                                   |  |  |           |
| (a) Class A-4 Notes InterestDue                       |  |  | $9,609,553.33  |
| (b) Class A-4 NotesInterest Paid                      |  |  | 9,609,553.33   |
| (c) ClassA-4 Notes Interest Shortfall                 |  |  | $0.00          |
|                                                       |

----

CREDIT SUISSE FIRSTBOSTONPAGE 3

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder—Honda Auto Receivables2005-4 Owner Trust 04/01/05 through 03/31/06

|                                                                                             |  |  |                 |
|---------------------------------------------------------------------------------------------|--|--|-----------------|
| (v)Total Note Interest                                                                      |  |  |            |
| (a) Total NoteInterest Due                                                                  |  |  | $39,908,931.61  |
| (b)Total Note Interest Paid                                                                 |  |  | 39,908,931.61   |
| (c) Total NoteInterest Shortfall                                                            |  |  | $0.00           |
| (d) Reserve FundWithdrawn for Note Interest                                                 |  |  | $0.00           |
| Amount available for distributionsafter Fees &Interest(VIII-(IX(A)(ii)-(D))-X(A)(v)(b)) |  |  | 370,968,198.03  |
| (B)Principal                                                                                |  |  |            |
| (i) Noteholders’Principal Distribution Amounts                                        |  |  | $358,376,680.63 |
| (ii) Class A-1Notes Principal                                                               |  |  |            |
| (a) Class A-1 NotesPrincipal Due                                                            |  |  | 347,000,000.00  |
| (b) Class A-1Notes Principal Paid                                                           |  |  | 347,000,000.00  |
| (c) Class A-1Notes Principal Shortfall                                                      |  |  | $0.00           |
| (d) ReserveFund drawn                                                                       |  |  | $0.00           |
| (iii)Class A-2 Notes Principal                                                              |  |  |            |
| (a) Class A-2Notes Principal Due                                                            |  |  | $11,376,680.63  |
| (b)Class A-2 Notes Principal Paid                                                           |  |  | 11,376,680.63   |
| (c) Class A-2Notes Principal Shortfall                                                      |  |  | $0.00           |
| (d) ReserveFund drawn                                                                       |  |  | $0.00           |
| (iv) ClassA-3 Notes Principal                                                               |  |  |            |
| (a) Class A-3 NotesPrincipal Due                                                            |  |  | $0.00           |
| (b) Class A-3 NotesPrincipal Paid                                                           |  |  | 0.00            |
| (c)Class A-3 Notes Principal Shortfall                                                      |  |  | $0.00           |
| (d) Reserve Fund drawn                                                                      |  |  | $0.00           |
| (v) Class A-4 NotesPrincipal                                                                |  |  |            |
| (a) Class A-4 Notes PrincipalDue                                                            |  |  | $0.00           |
| (b) Class A-4 Notes PrincipalPaid                                                           |  |  | 0.00            |
| (c) Class A-4Notes Principal Shortfall                                                      |  |  | $0.00           |
| (d) ReserveFund drawn                                                                       |  |  | $0.00           |
| (vi) TotalNotes Principal                                                                   |  |  |            |
| (a) Total Notes PrincipalDue                                                                |  |  | $358,376,680.63 |
| (b) Total NotesPrincipal Paid                                                               |  |  | 358,376,680.63  |
| (c) TotalNotes Principal Shortfall                                                          |  |  | $0.00           |
| (d) ReserveFund drawn                                                                       |  |  | $0.00           |
| XII.RESERVE FUND DEPOSIT                                                                    |  |  |            |
| Amount availablefor deposit into reserveaccount                                             |  |  | $12,591,517.40  |
| Amountdeposited into reserveaccount                                                         |  |  | 0.00            |
| Excess Amount Releasedfrom ReserveAccount                                                   |  |  | 0.00            |
| Excessfunds available toCertificateholders                                                  |  |  | 12,591,517.40   |
| XIII.DISTRIBUTIONS TOCERTIFICATEHOLDERS                                                     |  |  |            |
| (A)Interest                                                                                 |  |  |            |
| (i) Certificate MonthlyInterest Due                                                         |  |  | $1,623,333.25   |
| (ii)Certificate Interest Shortfall BeginningBalance                                         |  |  | $0.00           |
| (iii) Total CertificateInterest Due                                                         |  |  | $1,623,333.25   |
| (iv)Certificate Interest Paid                                                               |  |  | 1,623,333.25    |
| (v)Certificate Interest Shortfall EndingBalance                                             |  |  | $0.00           |
| (B)Principal                                                                                |  |  |            |
| (i) Certificate MonthlyPrincipal Due                                                        |  |  | $0.00           |
| (ii) CertificatePrincipal Shortfall BeginningBalance                                        |  |  | $0.00           |
| (iii) Total CertificatePrincipal Due                                                        |  |  | $0.00           |
| (iv) CertificatePrincipal Paid                                                              |  |  | 0.00            |
| (v) CertificatePrincipal Shortfall EndingBalance                                            |  |  | $0.00           |
| (C) Release toSeller                                                                        |  |  | $10,968,184.15  |
|                                                                                             |

----

|                                                |  |  |                 |
|------------------------------------------------|--|--|-----------------|
| DISTRIBUTIONSSUMMARY                           |
| (A) TotalCollections                           |  |  | $420,160,412.12 |
| (B)Service Fee                                 |  |  | $9,274,282.48   |
| (C) TrusteeFees                                |  |  | 9,000.00        |
| (D) Class A1Amount                             |  |  | $352,132,025.48 |
| (E) Class A2Amount                             |  |  | $23,401,280.63  |
| (F) Class A3Amount                             |  |  | $13,142,752.80  |
| (G) Class A4Amount                             |  |  | $9,609,553.33   |
| (H) Amount Depositedinto Reserve Account       |  |  | $0.00           |
| (I)Certificateholders                          |  |  | $1,623,333.25   |
| (J) Releaseto seller                           |  |  | $10,968,184.15  |
| (K) Total amountdistributed                    |  |  | $420,160,412.12 |
| (L) Amount ofDraw from Reserve Account         |  |  | 0.00            |
| (M) ExcessAmount Released from Reserve Account |  |  | 0.00            |
|                                                |

|                                                         |  |  |                   |  |  |  |  |        |  |  |  |                   |  |  |  |  |        |  |
|---------------------------------------------------------|--|--|-------------------|--|--|--|--|--------|--|--|--|-------------------|--|--|--|--|--------|--|
| PORTFOLIOAND SECURITY SUMMARY                           |
|                                                    |  |  | BeginningofPeriod |  |  |  |  |   |  |  |  | Endof Period      |  |  |  |  |   |  |
| XIV. POOL BALANCES AND PORTFOLIOINFORMATION             |  |  |              |  |  |  |  |   |  |  |  |              |  |  |  |  |   |  |
| (A)Balances and PrincipalFactors                        |  |  |              |  |  |  |  |   |  |  |  |              |  |  |  |  |   |  |
| (i)Aggregate Balance of Notes                           |  |  | $1,495,960,000.00 |  |  |  |  |   |  |  |  | $1,137,583,319.37 |  |  |  |  |   |  |
| (ii)Note Pool Factor                                    |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 0.7604370         |  |  |  |  |   |  |
| (iii)Class A-1 Notes Balance                            |  |  | 347,000,000.00    |  |  |  |  |   |  |  |  | 0.00              |  |  |  |  |   |  |
| (iv)Class A-1 Notes Pool Factor                         |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 0.0000000         |  |  |  |  |   |  |
| (v)Class A-2 Notes Balance                              |  |  | 409,000,000.00    |  |  |  |  |   |  |  |  | 397,623,319.37    |  |  |  |  |   |  |
| (vi)Class A-2 Notes Pool Factor                         |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 0.9721842         |  |  |  |  |   |  |
| (vii)Class A-3 Notes Balance                            |  |  | 433,000,000.00    |  |  |  |  |   |  |  |  | 433,000,000.00    |  |  |  |  |   |  |
| (viii)Class A-3 Notes Pool Factor                       |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 1.0000000         |  |  |  |  |   |  |
| (ix)Class A-4 Notes Balance                             |  |  | 306,960,000.00    |  |  |  |  |   |  |  |  | 306,960,000.00    |  |  |  |  |   |  |
| (x)Class A-4 Notes Pool Factor                          |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 1.0000000         |  |  |  |  |   |  |
| (xi)Certificates Balance                                |  |  | 51,854,477.92     |  |  |  |  |   |  |  |  | 51,854,477.92     |  |  |  |  |   |  |
| (xii)Certificates Pool Factor                           |  |  | 1.0000000         |  |  |  |  |   |  |  |  | 1.0000000         |  |  |  |  |   |  |
| (xiii)Total Principal Balance of Notes and Certificates |  |  | 1,547,814,477.92  |  |  |  |  |   |  |  |  | 1,189,437,797.29  |  |  |  |  |   |  |
| (B)PortfolioInformation                                 |  |  |              |  |  |  |  |   |  |  |  |              |  |  |  |  |   |  |
| (i)Weighted Average Coupon (WAC)                        |  |  | 3.98%             |  |  |  |  |   |  |  |  | 3.97%             |  |  |  |  |   |  |
| (ii)Weighted Average Remaining Maturity (WAM)           |  |  | 50.31             |  |  |  |  | months |  |  |  | 42.75             |  |  |  |  | months |  |
| (iii)Remaining Number of Receivables                    |  |  | 97,847            |  |  |  |  |   |  |  |  | 89,346            |  |  |  |  |   |  |
| (iv)Portfolio Receivable Balance                        |  |  | $1,547,814,477.92 |  |  |  |  |   |  |  |  | $1,189,437,797.29 |  |  |  |  |   |  |
| (C)Outstanding AdvanceAmount                            |  |  | $0.00             |  |  |  |  |   |  |  |  | $304,676.53       |  |  |  |  |   |  |
| (D)Outstanding PayaheadBalance                          |  |  | $0.00             |  |  |  |  |   |  |  |  | $0.00             |  |  |  |  |   |  |
|                                                         |

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CREDIT SUISSE FIRSTBOSTONPAGE 4

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder—Honda Auto Receivables2005-4 Owner Trust 04/01/05 through 03/31/06

|                                                       |  |  |               |
|-------------------------------------------------------|--|--|---------------|
| SUMMARYOF ACCOUNTS                                    |
| XV. RECONCILIATION OF RESERVEACCOUNT                  |  |  |          |
| (A) Beginning ReserveAccount Balance                  |  |  | $7,739,072.39 |
| (B)Draws                                              |  |  |          |
| (i) Draw for Servicing Fee                            |  |  | 0.00          |
| (ii) Draw for Interest                                |  |  | 0.00          |
| (iii) Draw for Realized Losses                        |  |  | 0.00          |
| (C) Excess Interest Deposited into theReserve Account |  |  | 0.00          |
| (D) Reserve AccountBalance Prior to Release           |  |  | 7,739,072.39  |
| (E)Reserve Account Required Amount                    |  |  | 7,739,072.39  |
| (F) Final Reserve Account RequiredAmount              |  |  | 7,739,072.39  |
| (G) Excess ReserveAccount Amount                      |  |  | 0.00          |
| (H) Release of ReserveAccount Balance to Seller       |  |  | 7,739,072.39  |
| (I) Ending ReserveAccountBalance                      |  |  |          |
| XVI.RECONCILIATION OF YIELD SUPPLEMENTACCOUNT         |  |  |          |
| (A) Beginning Yield SupplementAccount Balance         |  |  | 72,610,130.63 |
| (B) InvestmentEarnings                                |  |  | 1,540,466.42  |
| (C) InvestmentEarnings Withdraw                       |  |  | 0.00          |
| (D) Additional YieldSupplement Amounts                |  |  | 0.00          |
| (E) Yield SupplementDeposit Amount                    |  |  | 26,733,460.02 |
| (F) Release ofYield Deposit Account Balance toSeller  |  |  | 0.00          |
| (G) EndingYield Supplement AccountBalance             |  |  | 47,417,137.03 |
| XVII.NET LOSS AND DELINQUENCY ACCOUNTACTIVITY         |  |  |          |
| (A) LiquidatedContracts                               |  |  |          |
| (i) LiquidationProceeds                               |  |  | $1,684,207.68 |
| (ii) Recoverieson Previously Liquidated Contracts     |  |  | 275,524.47    |
| (B) Aggregate Net Losses forCollection Period         |  |  | 2,227,146.09  |
| (C) Net LossRate for Collection Period (annualized)   |  |  | 0.16%         |
| (D) Cumulative Net Losses for allPeriods              |  |  | $2,227,146.09 |
|                                                       |

|                                                       |  |  |        |  |       |              |  |  |  |  |      |   |  |  |                |  |  |  |  |      |   |
|-------------------------------------------------------|--|--|--------|--|-------|--------------|--|--|--|--|------|---|--|--|----------------|--|--|--|--|------|---|
| (E)Delinquent Receivables                             |  |  | #Units |  |       | DollarAmount |
| (i) 30-59 Days Delinquent                             |  |  |        |  | 1,615 |              |  |  |  |  | 1.81 | % |  |  | $21,724,497.81 |  |  |  |  | 1.83 | % |
| (ii)60-89 Days Delinquent                             |  |  |        |  | 340   |              |  |  |  |  | 0.38 | % |  |  | $4,695,258.01  |  |  |  |  | 0.39 | % |
| (iii)90 Days or More Delinquent                       |  |  |        |  | 56    |              |  |  |  |  | 0.06 | % |  |  | $812,577.17    |  |  |  |  | 0.07 | % |
| XVIII.REPOSSESSIONACTIVITY                            |  |  | #Units |  |       | DollarAmount |
| (A) Vehicles Repossessed DuringCollectionPeriod       |  |  |        |  | 43    |              |  |  |  |  | 0.05 | % |  |  | $653,511.72    |  |  |  |  | 0.05 | % |
| (B)Total Accumulated Repossessed Vehicles inInventory |  |  |        |  | 65    |              |  |  |  |  | 0.07 | % |  |  | $982,936.57    |  |  |  |  | 0.08 | % |
|                                                       |

|                                                                                                       |  |  |                     |
|-------------------------------------------------------------------------------------------------------|--|--|---------------------|
| XIX.TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNTBALANCE                                            |  |  |                |
| (A) Ratio of Net Losses to the PoolBalance as of Each CollectionPeriod                                |  |  |                |
| (i) Second PrecedingCollection Period                                                                 |  |  | 0.57%               |
| (ii)Preceding Collection Period                                                                       |  |  | 0.37%               |
| (iii) Current CollectionPeriod                                                                        |  |  | 0.21%               |
| (iv) Three MonthAverage (Avg(i,ii,iii))                                                               |  |  | 0.38%               |
| (B) Ratio ofBalance of Contracts Delinquent 60 Days or More to the OutstandingBalance of Receivables. |  |  |                |
| (i) SecondPreceding Collection Period                                                                 |  |  | 0.65%               |
| (ii) Preceding CollectionPeriod                                                                       |  |  | 0.55%               |
| (iii) CurrentCollection Period                                                                        |  |  | 0.52%               |
| (iv) ThreeMonth Average (Avg(i,ii,iii))                                                               |  |  | 0.57%               |
| (C)Loss and Delinquency Trigger Indicator                                                             |  |  | Trigger was nothit. |
|                                                                                                       |

I hereby certify that theservicing report provided is true and accurate to the best of myknowledge.

/s/ Paul C. HondaPaulC. HondaAssistant Vice President, Assistant Secretary andCompliance Officer

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