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CIT Places Order for 10 New Airbus A320 Family Aircraft

NEW YORK-(Business Wire)-September 4, 2008 - CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced that it has exercised options with Airbus for 10 new aircraft worth approximately $756 million at list prices. The order, made on behalf of CIT Aerospace, a unit of CIT, includes eight A320s and two A319s aircraft. The aircraft are scheduled to begin delivery in 2012.

“We are pleased to announce this follow-on order for 10 new A320 family aircraft,” said Tony Diaz, Executive Vice President of CIT Aerospace, Commercial Airlines at CIT. “This new order will help us meet customer demand for younger, more fuel efficient aircraft.”

John Leahy, Airbus Chief Operating Officer Customers, said: “We are delighted that an important leasing company such as CIT has again chosen to place repeat orders with Airbus. This order confirms the important role that leasing companies have in the aviation industry, particularly in the current market situation. It is also a re-affirmation of the continued success of our A320 Family, allowing CIT to offer the most modern and efficient single aisle aircraft on the market today.”

CIT owns or manages a fleet of more than 300 commercial aircraft. Since 2000, CIT has taken delivery of 100 Airbus aircraft, and including the purchase announced today, has 99 currently on order (162 A320 Family aircraft, 30 A330s and seven A350 XWBs).

Airbus is an EADS Company.

Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com.

Individuals interested in listening to recent podcasts featuring Tony Diaz in which he discusses “Rising Fuel Costs and the Impact on Airlines” and "Globalizing the Skies" can visit www.5minutecapital.com.

About CIT Aerospace

CIT Aerospace provides financing solutions to a broad spectrum of the global aerospace value chain ranging from operators of commercial and business aircraft to manufacturers and suppliers in the aerospace and defense industries as well as financial institutions.

About CIT

CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $70 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com

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