<PAGE>

NEWCOURT RECEIVABLES
ASSET TRUST
SUMMARY OF PERFORMANCE
FOR THE YEAR ENDED
DECEMBER 31, 1997


I)   OUTSTANDING BALANCES,
     PRINCIPAL AND INTEREST
     PAID

CLASS A NOTES
<TABLE>
<CAPTION>
                       Opening         Jan-97          Feb-97          Mar-97           Apr-97         May-97         Jun-97

OUTSTANDING BALANCES
<S>                <C>             <C>             <C>             <C>             <C>             <C>             <C>
Series 1996-1       85,632,689.93   83,039,073.86   80,320,721.12   77,837,305.11   73,772,507.28   71,160,051.15   67,979,229.16
Series 1996-2      150,516,984.31  145,305,637.21  138,873,947.09  133,858,449.03  126,249,843.83  121,166,718.00  115,965,164.98
Series 1996-3      178,196,827.44  171,283,150.99  167,111,475.81  162,014,173.27  154,024,284.63  148,669,363.77  142,333,680.34

Total              414,346,501.68  399,627,862.06  386,306,144.02  373,709,927.41  354,046,635.74  340,996,132.92  326,278,074.48

PRINCIPAL PAID

Series 1996-1                        2,593,616.07    2,718,352.74    2,483,416.01    4,064,797.83    2,612,456.13    3,180,821.99
Series 1996-2                        5,211,347.10    6,431,690.12    5,015,498.06    7,608,605.20    5,083,125.83    5,201,553.02
Series 1996-3                        6,913,676.45    4,171,675.18    5,097,302.54    7,989,888.64    5,354,920.86    6,335,683.43

Total                               14,718,639.62   13,321,718.04   12,596,216.61   19,663,291.67   13,050,502.82   14,718,058.44

INTEREST PAID

Series 1996-1                          484,538.30      469,862.76      454,481.41      440,429.42      417,429.44      402,647.29
Series 1996-2                          861,709.74      831,874.77      795,053.35      766,339.62      722,780.36      693,679.46
Series 1996-3                          926,623.50      890,672.39      868,979.67      842,473.70      800,926.28      773,080.69

Total                                2,272,871.54    2,192,409.92    2,118,514.43    2,049,242.74    1,941,136.08    1,869,407.44

CLASS A NOTES (continued)

                         Jul-97         Aug-97           Sep-97          Oct-97          Nov-97          Dec-97

OUTSTANDING BALANCES

Series 1996-1       63,928,749.20   60,111,407.49   57,186,881.66   53,817,957.40   50,767,467.36   47,624,401.27
Series 1996-2      109,502,230.12  103,117,855.69   98,414,675.74   93,369,511.72   88,478,780.75   83,439,869.13
Series 1996-3      134,373,857.14  127,063,847.94  121,869,534.48  116,105,107.95  110,587,944.48  104,965,442.31

Total              307,804,836.46  290,293,111.12  277,471,091.88  263,292,577.07  249,834,192.59  236,029,712.71

PRINCIPAL PAID

Series 1996-1        4,050,479.96    3,817,341.71    2,924,525.83    3,368,924.26    3,050,490.04    3,143,066.09
Series 1996-2        6,462,934,86    6,384,374.43    4.703,179.95    5,045,164.02    4,890,730.97    5,038,911.62
Series 1996-3        7,959,823.20    7,310,009.20    5,194,313.46    5,764,426.53    5,517,163.47    5,622,502.17

Total               18,473,238.02   17,511,725.34   12,822,019.24   14,178,514.81   13,458,384.48   13,804,479.88

INTEREST PAID

Series 1996-1          384,649.14      361,730.17      340,130.38      323,582.44      304,519.94      287,259.25
Series 1996-2          663,900.57      626,900.27      590,349.72      563,424.02      534,540.45      506,541.02
Series 1996-3          740,135.14      698,744.06      660,732.01      633,721.58      603,746.56      575,057.31

Total                1,788,684.85    1,687,374.50    1,591,212.11    1,520,728.04    1,442,806.95    1,368,857.58


CLASS B NOTES

                     Opening         Jan-97          Feb-97          Mar-97           Apr-97         May-97           Jun-97

OUTSTANDING BALANCES

Series 1996-1      4,162,261.24    4,111,013.48    4,033,064.15    3,957,817.39    3,866,474.66    3,793,825.47    3,712,242.01
Series 1996-2      6,842,357.15    6,723,096.55    6,512,779.73    6,349,046.72    6,158,448.71    6,004,506.54    5,871,575.43
Series 1996-3      7,878,205.85    7,705,954.75    7,604,651.68    7,446,417.87    7,263,510.10    7,109,712.77    6,946,131.29

Total             18,882,824.24   18,540,064.78   18,150,495.56   17,753,281.98   17,288,433.47   16,908,044.78   16,529,948.73


PRINCIPAL PAID

Series 1996-1                         51,247.76       77,949.33       75,246.76       91,342.73       72,649.19       81,583.46
Series 1996-2                        119,260.60      210,316.82      163,733.01      190,598.01      153,942.17      132,931.11
Series 1996-3                        172,251.10      101,303.07      158,233.81      182,907.77      153,797.33      163,581.48

Total                                342,759.46      389,569.22      397,213.58      464,848.51      380,388.69      378,096.05


INTEREST PAID

Series 1996-1                         26,118.19       25,796.61       25,307.48       24,835.30       24,262.13       23,806.25
Series 1996-2                         42,992.81       42,243.46       40,921.97       39,893.18       38,695.59       37,728.32
Series 1996-3                         45,365.34       44,373.46       43,790.12       42,878.96       41,825.71       40,940.10

Total                                114,476.34      112,413.53      110,019.57      107,607.44      104,783.43      102,474.67

CLASS B NOTES (continued)

                        Jul-97         Aug-97           Sep-97          Oct-97          Nov-97          Dec-97

OUTSTANDING BALANCES

Series 1996-1      3,616,565.51    3,529,002.26    3,444,403.34    3,356,813.14    3,284,334.51    3,204,137.40
Series 1996-2      5,724,779.27    5,581,017.71    5,446,045.59    5,320,900.48    5,209,057.74    5,084,913.16
Series 1996-3      6,762,607.68    6,602,043.28    6,460,059.28    6,324,402.54    6,205,148.93    6,073,474.95

Total             16,103,952.46   15,712,063.25   15,350,508.21   15,002,116.16   14,698,541.18   14,362,525.51


PRINCIPAL PAID

Series 1996-1         95,676.50       87,563.25       84,598.92       87,590.20       72,478.63       80,197.11
Series 1996-2        146,796.16      143,761.56      134,972.12      125,145.11      111,842.74      124,144.58
Series 1996-3        183,523.61      160,564.40      141,984.00      135,656.74      119,253.61      131,673.98

Total                425,996.27      391,889.21      361,555.04      348,392.05      303,574.98      336,015.67


INTEREST PAID

Series 1996-1         23,294.32       22,693.95       22,144.49       21,613.63       21,064.00       20,609.20
Series 1996-2         36,893.07       35,970.70       35,067.39       34,219.32       33,432.99       32,730.25
Series 1996-3         39,998.14       38,941.35       38,016.77       37,199.17       36,418.02       35,731.32

Total                100,185.53       97,606.00       95,228.65       93,032.12       90,915.01       89,070.77

<PAGE>

NEWCOURT RECEIVABLES
ASSET TRUST
SUMMARY OF PERFORMANCE
FOR THE YEAR ENDED
DECEMBER 31, 1997

CLASS C NOTES

                        Opening         Jan-97          Feb-97          Mar-97          Apr-97         May-97           Jun-97

OUTSTANDING BALANCES

Series 1996-1        4,162,261.24    4,111,013.48    4,033,064.15    3,957,817.39    3,866,474.66    3,793,825.47     3,712,242.01
Series 1996-2        6,842,357.15    6,723,096.55    6,512,779.73    6,349,046.72    6,158,448.71    6,004,506.54     5,871,575.43
Series 1996-3        7,878,205.85    7,705,954.75    7,604,651.68    7,446,417.87    7,263,510.10    7,109,712.77     6,946,131.29

Total               18,882,824.24   18,540,064.78   18,150,495.56   17,753,281.98   17,288,433.47   16,908,044.78    16,529,948.73


PRINCIPAL PAID

Series 1996                             51,247.76       77,949.33       75,246.76       91,342.73       72,649.19        81,583.46
Series 1996-2                          119,260.60      210,316.82      163,733.01      190,598.01      153,942.17       132,931.11
Series 1996-3                          172,251.10      101,303.07      158,233.81      182,907.77      153,797.33       163,581.48

Total                                  342,759.46      389,569.22      397,213.58      464,848.51      380,388.69       378,096.05


INTEREST PAID

Series 1996-1                           31,390.39       31,003.89       30,416.03       29,848.54       29,159.66        28,611.77
Series 1996-2                           52,572.11       51,655.79       50,039.86       48,781.84       47,317.41        46,134.63
Series 1996-3                           56,854.39       55,611.31       54,880.24       53,738.32       52,418.33        51,308.43

Total                                  140,816.89      138,270.99      135,336.13      132,368.70      128,895.40       126,054.83


CLASS C NOTES (continued)

                       Jul-97         Aug-97           Sep-97          Oct-97          Nov-97          Dec-97

OUTSTANDING BALANCES

Series 1996-1       3,616,565.51    3,529,002.26    3,444,403.34    3,356,813.14     3,284,334.51     3,204,137.40
Series 1996-2       5,724,779.27    5,581,017.71    5,446,045.59    5,320,900.48     5,209,057.74     5,084,913.16
Series 1996-3       6,762,607.68    6,602,043.28    6,460,059.28    6,324,402.54     6,205,148.93     6,073,474.95

Total              16,103,952.46   15,712,063.25   15,350,508.21   15,002,116.16    14,698,541.18    14,362,525.51


PRINCIPAL PAID

Series 1996           95,676.50       87,563.25       84,598.92       87,590.20        72,478.63        80,197.11
Series 1996-2        146,796.16      143,761.56      134,972.12      125,145.11       111,842.74       124,144.58
Series 1996-3        183,523.61      160,564.40      141,984.00      135,656.74       119,253.61       131,673.98

Total                425,996.27      391,889.21      361,555.04      348,392.05       303,574.98       336,015.67


INTEREST PAID

Series 1996-1         27,996.49       27,274.93       26,614.56       25,976.54       25,315.97        24,769.36
Series 1996-2         45,113.27       43,985.39       42,880.82       41,843.78       40,882.25        40,022.93
Series 1996-3         50,127.91       48,803.49       47,644.75       46,620.09       45,641.10        44,780.49

Total                123,237.67      120,063.81      117,140.13      114,440.41      111,839.32       109,572.78



II)   PORTFOLIO PERFORMANCE

                                       Jan-97          Feb-97          Mar-97           Apr-97         May-97          Jun-97

DELINQUENCY

31-60 days past due                  18,736,567      17,874,099      17,431,932      16,420,038      15,866,277       15,405,963
61-90 days past due                   3,223,447       3,135,383       3,092,035       2,925,087       2,850,777        2,670,784
over 90 days past due                 1,140,002       1,190,834       1,161,801       1,064,485       1,510,507        2,238,677

LOSSES

Gross Charge-Offs                       376,421         314,117         358,609         288,915         403,851          561,154
Recoveries                              304,605         207,425         207,940         231,263         286,000          400,595
Net Charge-Offs                          71,816         106,692         150,669          57,652         117,851          160,559
</TABLE>


II)   PORTFOLIO PERFORMANCE (continued)
<TABLE>
<CAPTION>
                             Jul-97          Aug-97           Sep-97          Oct-97           Nov-97          Dec-97

DELINQUENCY

<S>                       <C>              <C>              <C>              <C>              <C>             <C>
31-60 days past due       14,421,712       13,736,345       13,044,323       12,449,976      11,817,871       10,571,971
61-90 days past due        2,499,295        2,441,176        2,300,515        2,204,397       2,088,466        1,969,589
over 90 days past due      1,991,637        1,808,871        1,805,407        1,693,637       1,585,384        1,500,927

LOSSES

Gross Charge-Offs            505,062          442,668          517,074          476,248         440,696          419,316
Recoveries                   343,243          336,190          396,481          407,173         346,064          281,103
Net Charge-Offs              161,819          106,478          120,593           69,075          94,632          138,213

NOTE:  The Gross Charge-Off amount in the Losses section identified in the
respective month is included in the balance of "over 90 days past due"
reported in the Delinquency section


<PAGE>

NEWCOURT RECEIVABLES
ASSET TRUST
SUMMARY OF PERFORMANCE
FOR THE YEAR ENDED
DECEMBER 31, 1997

III)  RESERVE ACCOUNT

                           Jan-97          Feb-97          Mar-97           Apr-97         May-97          Jun-97

BEGINNING BALANCE      4,521,121.51    4,367,079.92    4,226,071.36    4,092,164.92    3,886,235.03    3,748,122.23

INTEREST EARNINGS         25,228.45       19,968.58       17,729.42       20,260.20       17,920.05       19,898.93

INTEREST EARNINGS
TO NEWCOURT              (25,228.45)     (19,968.58)     (17,729.42)     (20,260.20)     (17,920.05)     (19,898.93)

RESERVE REPATRIATION    (154,041.59)    (141,008.56)    (133,906.44)    (205,929.89)    (138,112.80)    (154,742.51)

ENDING BALANCE         4,367,079.92    4,226,071.36    4,092,164.92    3,886,235.03    3,748,122.23    3,593,379.72
</TABLE>

III)  RESERVE ACCOUNT (continued)
<TABLE>
<CAPTION>
                          Jul-97          Aug-97          Sep-97          Oct-97          Nov-97          Dec-97

<S>                    <C>             <C>             <C>             <C>             <C>             <C>             <C>
BEGINNING BALANCE      3,593,379.72    3,400,127.42    3,217,172.38    3,081,721.09    2,932,968.10     2,792,312.75

INTEREST EARNINGS         16,816.58       16,411.16       17,697.99       13,490.30       14,661.30        14,999.41

INTEREST EARNINGS
TO NEWCOURT              (16,816.58)     (16,411.16)     (17,697.99)     (13,490.30)     (14,661.30)      (14,999.41)

RESERVE REPATRIATION    (193,252.30)     (182,955.04)   (135,451.29)    (148,752.99     (140,655.35)     (144,765.11)

ENDING BALANCE         3,400,127.42     3,217,172.38   3,081,721.09    2,932,968.10    2,792,312.75     2,647,547.64
</TABLE>

III)  CASH COLLATERAL ACCOUNT
<TABLE>
<CAPTION>
                           Jan-97          Feb-97         Mar-97         Apr-97         May-97         Jun-97
<S>                    <C>              <C>            <C>            <C>            <C>            <C>
BEGINNING BALANCE      1,612,070.33     1,599,681.05   1,585,169.96   1,555,395.66   1,540,001.68   1,503,193.63

INTEREST EARNINGS          7,881.72         8,629.56       6,320.83       7,600.00       6,406.84       8,800.68

INTEREST EARNINGS
TO NEWCOURT               (7,881.72)       (8,629.56)     (6,320.83)     (7,600.00)     (6,406.84)     (8,800.68)

CASH COLLATERAL          (12,389.28)      (14,511.09)    (29,774.30)    (15,393.98)    (36,808.05)    (30,059.61)

ENDING BALANCE         1,599,681.05     1,585,169.96   1,555,395.66   1,540,001.68   1,503,193.63   1,473,134.02

</TABLE>

III)  CASH COLLATERAL ACCOUNT (continued)
<TABLE>
<CAPTION>
                          Jul-97        Aug-97         Sep-97         Oct-97         Nov-97        Dec-97
<S>                   <C>            <C>            <C>            <C>            <C>            <C>
BEGINNING BALANCE     1,473,134.02   1,462,371.14   1,418,826.27   1,357,635.39   1,311,452.41   1,289,446.17

INTEREST EARNINGS         5,798.23       7,411.63       7,404.77       5,616.43       6,677.63       5,324.58

INTEREST EARNINGS
TO NEWCOURT              (5,798.23)     (7,411.63)     (7,404.77)     (5,616.43)     (6,677.63)     (5,324.58)

CASH COLLATERAL         (10,762.88)    (43,544.87)    (61,190.88)    (46,182.98)    (22,006.24)    (17,260.78)

ENDING BALANCE        1,462,371.14   1,418,826.27   1,357,635.39   1,311,452.41   1,289,446.17   1,272,185.39

</TABLE>