**Exhibit 99.1**

 

**JOHNDEERE CAPITAL CORPORATIONOFFICERS’ CERTIFICATEPURSUANT TO SECTION 4.10(a)OF THE SALE AND SERVICING AGREEMENTAND SECTION 3(c) OF THE UNDERWRITING AGREEMENTS**

 

We, Charles G.Dahl and Paul J. Nagel, Vice President and Controller and Assistant Secretary,respectively, of John Deere Capital Corporation, a Delaware corporation (the“Company”), hereby certify for the period from July 24, 2003 to October 31,2003, that (i) a review has been made under the supervision of each of us ofthe activities and of the performance of the Company, as Servicer under theSale and Servicing Agreement dated as of July 15, 2003 among U.S. Bank TrustNational Association as Owner Trustee for the John Deere Owner Trust 2003, JohnDeere Receivables, Inc. and the Company (the “Agreement”) and attached asExhibit A hereto is a year-end statement as of October 31, 2003 and (ii)to the best of the knowledge of each of us, based on such review, the Companyhas fulfilled in all material respects all its obligations under the Agreementthroughout such period.

 

Dated atJohnston, Iowa  this 9th dayof January, 2004

 

 
|   |   | */s/ Charles  G. Dahl*        |   |
|--------|--------|-------------------------------|--------|
|   |   | Charles G. Dahl               |
|   |   | Vice President and Controller |
|   |   |                          |
|   |   |                          |
|   |   | */s/ Paul J. Nagel*           |   |
|   |   | Paul J. Nagel                 |
|   |   | Assistant Secretary           |

 

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| **John Deere Owner Trust 2003**                             |   | **Exhibit A** |
|-------------------------------------------------------------|--------|---------------|
| **Fiscal Year Ended 31 October 2003 Statement (Unaudited)** |   |          |

** **

$197,000,000 Class A-1 1.08125% Asset Backed Notesdue August 13, 2004

$187,000,000 Class A-2 1.31000% Asset Backed Notesdue January 17, 2006

$202,000,000 Class A-3 1.79000% Asset Backed Notesdue April 16, 2007

$149,000,000 Class A-4 2.44000% Asset Backed Notesdue June 15, 2010

$15,150,000  Class B 2.01000% Asset Backed Notes due June 15, 2010

$7,546,670 Asset Backed Certificates

 
| (1)   Amount of principal being  paid or distributed during the Fiscal Year:              |                                                                                  |   |      |
|----------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|--------|-----------|
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (a)   A-1 Notes:                                                       |   | $         | 85,372,625.23 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 433.36 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (b)   A-2 Notes:                                                       |   | $         | 0.00 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 0.00 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (c)   A-3 Notes:                                                       |   | $         | 0.00 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 0.00 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (d)   A-4 Notes:                                                       |   | $         | 0.00 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 0.00 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (e)   B Notes:                                                         |   | $         | 0.00 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 0.00 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (f)   Total:                                                           |   | $         | 85,372,625.23 |   |
|                                                                                                     |                                                                                  |   |      |   |
| (2)   Amount of interest being  paid or distributed during the Fiscal Year:               |                                                                                  |   |      |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (a)   A-1 Notes:                                                       |   | $         | 571,251.31 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 2.90 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (b)   A-2 Notes:                                                       |   | $         | 755,324.18 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 4.04 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (c)   A-3 Notes:                                                       |   | $         | 1,114,871.68 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 5.52 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (d)   A-4 Notes:                                                       |   | $         | 1,120,976.68 |   |
|                                                                                                     |        Per  $1,000 original principal amount:      |   | $         | 7.52 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (e)   B Notes:                                                         |   | $         | 93,892.13 |   |
|                                                                                                     |        per  $1,000 original principal amount:      |   | $         | 6.20 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (f)   Total:                                                           |   | $         | 3,656,315.98 |   |
|                                                                                                     |                                                                                  |   |      |   |
| (3)   After giving effect to  distributions, Outstanding Principal at end of Fiscal Year: |                                                                                  |   |      |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (a)   (i)   outstanding  principal amount of A-1 Notes: |   | $         | 111,627,374.77 |   |
|                                                                                                     |        (ii)  A-1  Note Pool Factor:      |   | 0.57      |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (b)   (i)   outstanding  principal amount of A-2 Notes: |   | $         | 187,000,000.00 |   |
|                                                                                                     |        (ii)  A-2  Note Pool Factor:      |   | 1.0000000 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (c)   (i)   outstanding  principal amount of A-3 Notes: |   | $         | 202,000,000.00 |   |
|                                                                                                     |        (ii)  A-3  Note Pool Factor:      |   | 1.0000000 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (d)   (i)   outstanding  principal amount of A-4 Notes: |   | $         | 149,000,000.00 |   |
|                                                                                                     |        (ii)  A-4  Note Pool Factor:      |   | 1.0000000 |   |
|                                                                                                     |                                                                                  |   |      |   |
|                                                                                                     | (e)   (i)   outstanding  principal amount of B Notes:   |   | $         | 15,150,000.00 |   |
|                                                                                                     |        (ii)  B  Note Pool Factor:        |   | 1.0000000 |   |

 

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|                                                                                           | (f)   (i)   Certificate  Balance                      |   | $              | 7,546,670.00  |   |
|------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|--------|----------------|---------------|--------|
|                                                                                           |        (ii)  Certificate  Pool Factor: |   | 1.0000000      |          |
|                                                                                           |                                                                                |   |           |          |
| (4)   Note Value at the end of  Fiscal Year                                     |                                                                                | $      | 672,324,044.77 |          |
|                                                                                           |                                                                                |   |           |          |
| (5)   Pool Balance (excluding  accrued interest) at the end of Fiscal Year      |                                                                                | $      | 663,725,357.77 |          |
|                                                                                           |                                                                                |   |           |          |
| (6)   Amount of Servicing Fee paid  during Fiscal Year:                         |                                                                                | $      | 2,397,488.09   |          |
|                                                                                           |        per  $1,000 original principal amount:    |   | $              | 3.16          |   |
|                                                                                           |                                                                                |   |           |          |
| (7)   Amount of Administration Fee  paid during Fiscal Year:                    |                                                                                | $      | 400.00         |          |
|                                                                                           |                                                                                |   |           |          |
| (8)   Aggregate Purchase Amounts  for Fiscal Year:                              |                                                                                | $      | 0.00           |          |
|                                                                                           |                                                                                |   |           |          |
| (9)   Amount in Reserve Account at  end of Fiscal Year:                         |                                                                                | $      | 13,259,692.00  |          |
|                                                                                           | Specified Reserve Account Balance:                                                  |   | $              | 13,259,692.00 |   |
|                                                                                           |                                                                                |   |           |          |
| (10)  Aggregate amount of Realized  Losses at end of Fiscal Year:                    |                                                                                | $      | 19,164.82      |          |
|                                                                                           |                                                                                |   |           |          |
| (11)  Amount of Payments that are more  than 60 days past due at end of Fiscal Year: |                                                                                | $      | 711,861.00     |          |
|                                                                                           |                                                                                |   |           |          |
| (12)  Number of loans at end of period:                                              |                                                                                | 25,863 |           |

 

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