The predicted value of the higgs mass $m_H$ is analyzed assuming the existence of the fourth generation of leptons ($N, E$) and quarks ($U, D$). The steep and flat directions are found in the five-dimensional parameter space: $m_H$, $m_U$, $m_D$, $m_N$, $m_E$. The LEPTOP fit of the precision electroweak data is compatible (in particular) with $m_H \sim 300$ GeV, $m_N \sim 50$ GeV, $m_E \sim 100$ GeV, $m_U +m_D \sim 500$ GeV, and $|m_U -m_D| \sim 75$ GeV. The quality of fits drastically improves when the data on b- and c-quark asymmetries and new NuTeV data on deep inelastic scattering are ignored.