Caterpillar Establishes Borrowing Platform

On February 16, 2004, Caterpillar Financial Services Ltd., an indirect wholly owned subsidiary of Caterpillar Inc., filed a base shelf prospectus in all provinces of Canada to renew its medium term note program by qualifying the issuance of up to $750 million in medium term notes. The notes will be guaranteed by Caterpillar Financial Services Corp., a wholly owned subsidiary of Caterpillar Inc. The proceeds from the issuance of notes will be used by Caterpillar to finance its Canadian commercial and financial services business. The notes will be sold through a syndicate of dealers led by RBC Dominion Securities Inc. and TD Securities Inc.

Caterpillar Financial Services Ltd. was represented by Blake, Cassels & Graydon LLP, under the direction of Richard Moore, senior funding manager, and Clay Thompson, general counsel, Caterpillar Financial Services Corp.; and Dawn Eglitis, Caterpillar Financial Services Ltd. The Blake, Cassels & Graydon team included Ernest McNee, Mario Josipovic and Markus Viirland (corporate/securities) and Bryan Bailey (tax). The dealers were represented by Osler, Hoskin & Harcourt LLP, with a team that included Steven Smith and Lynne Woollcombe (corporate/securities) and Julie Colden (tax).