Item 1.
Business.
The Registrant is a limited partnership of which Deutsche Floorplan Receivables, Inc. (formerly ITT Floorplan Receivables, Inc.), ("DFLP") a Nevada corporation is the general partner and Deutsche Financial Services Corporation (formerly ITT Commercial Finance Corp.) ("DFSC") a Nevada corporation is the limited partner. The Registrant was organized for limited purposes, which include purchasing of receivables from DFSC and its affiliates and transferring such receivables to third parties and any activities incidental to and necessary or convenient for the accomplishment of such purposes.
In accordance with such business purposes, the Registrant has formed Deutsche Floorplan Receivables Master Trust, (formerly ITT Floorplan Receivables Master Trust) ("Trust") pursuant to a Pooling and Servicing Agreement, dated as of December 1, 1993, as amended and restated as of March 1, 1994 as further amended as of January 24, 1996 and as amended and restated as of October 1, 1996, among the Registrant as Seller, DFSC, as Servicer, and The Chase Manhattan Bank (formerly Chemical Bank), as Trustee. The Trust assets include receivables generated from time to time in a portfolio of revolving financing arrangements among DFSC and its affiliates with certain dealers and manufacturers to finance their inventory and accounts receivables. The Trust, in turn offers from time to time certificates representing undivided interests in the assets contained in the Trust. As of December 31, 1998 the Trust had [$2,031,747,000.00] of such certificates outstanding bearing identifications as follows:
Floating Rate Asset Backed Certificates, Series 1994-1 aggregating 	$1,000,000,000.00 Floating Rate Asset Backed Certificates, Series 1996-1 Class A aggregating 	$1,000,000,000.00 Floating Rate Asset Backed Certificates, Series 1996-1 Class B aggregating 	$ 31,747,000.00 Total Outstanding 	$2,031,747,000.00
Item 3.
Item 3. Legal Proceedings.*
None
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.*
None
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.*
Registrant, on behalf of the Partnership reports that each series of certificates issued by the trust is held by one (1) registered holder. There remains outstanding $2,031,747,000.00 of various series of Certificates, each of which have no principal market.
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.*
(a) Financial Statements.
The Partnership includes as exhibits hereto the Annual Accountant's Statement with respect to all series of Certificates issued and outstanding by Deutsche Floorplan Receivables Master Trust.
(b) Reports on Form 8-K.
The Partnership has filed reports on Form 8-K for each month commencing January 1998 and ending December 1998 reporting Item 5. Other Events and including therewith as an exhibit, the Distribution Date Statement for the prior month's Collection Period with respect to ( i) the Series 1994-1 Certificates, (ii) the Series 1996-1, Class A Certificates, and (iii) the Series 1996-1, Class B Certificates, all of which remain issued and outstanding by Deutsche Floorplan Receivables Master Trust.
In addition, under Item 5. Other Events, the Partnership reported in Form 8-K, certain specified distributions to Certificateholders made during such month. Included with each Form 8-K, the Partnership filed as exhibits thereto copies of the monthly Certificateholders' Statements required for such distributions.
SIGNATURES
Pursuant to the requirements of Section 13 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.
			 DEUTSCHE FLOORPLAN RECEIVABLES, L.P.
By: 	Deutsche Floorplan Receivables, Inc. 	Its General Partner
By: 	/s/ Richard H. Schumacher 	Richard H. Schumacher 	President and Treasurer
March 16, 1999
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Signature/Title				 	Date
/s/ Stephen J. Gentry 			 March 16, 1999 Senior Vice President & Controller Deutsche Floorplan Receivables, Inc., General Partner
/s/ Richard C. Goldman				 March 16, 1999 Director Deutsche Floorplan Receivables, Inc., General Partner
/s/ C. Don Brown					 March 17, 1999 Director Deutsche Floorplan Receivables, Inc., General Partner
/s/ Phil Stout					 March 17, 1999 Director Deutsche Floorplan Receivables, Inc., General Partner
EXHIBIT INDEX
							 Incorporated by reference to	 Exhibit						 Exhibit in Registration Number		Title				 Statement Number 333-10943
2	 Plan of acquisition, reorganization,		 	 arrangement, liquidation or succession	 Not Applicable
3	 Agreement of Limited Partnership of 		 	Registrant						 Exhibit 3.1 		 4 	Instruments defining the rights of 	 security holders, including indentures	 Exhibits 4.1 & 4.2
9	 Voting trust agreements				 Not Applicable
10	 Material Contracts				 Exhibit 10.1
11	 Statement re computation of 	per share earnings				 Not Applicable
12	 Statement re computation of ratios		 Not Applicable
13	 Annual report of security holders, 	 Form 10-Q or quarterly reports 	to security holders				 None
16	 Letter re change in certifying		 accountant None
18	 Letter re changes in accounting 	 principles						 None
21	 Subsidiaries of Registrant			 Not Applicable
22	 Published report regarding matters 	 submitted to vote of security holders	 None
23	 Consents of experts and counsel		 Not Applicable
24	 Power of attorney					 Not Applicable
27	 Financial Data Schedule				 Not Applicable
99	 Additional Exhibits				 Filed Herewith 	(i) Accountants' Annual Report As EX-1