CIT Group Provides $90 Million to Apparel Company Como Fred David

Business Wire, April 1, 2008

NEW YORK -- CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced that it has provided a $90 million revolving line of credit and term loan to Como Fred David Group, a women's apparel company. The funds were used to facilitate a recapitalization of Como Fred David Group by GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, in partnership with Crystal Capital. As part of the transaction Como Fred David's principals retained a significant ownership stake in the new company.

"Gordon Brothers has an extensive portfolio of middle market apparel and consumer companies. We are delighted to provide financing to a company that has a strong track record and experience in the industry," said John F. Daly, President of CIT Commercial Services.

Matthew Kahn, Principal of GM Merchant Partners, said, "CIT did a great job in getting this deal closed in a very difficult credit environment. CIT Commercial Services has been a long-standing and trusted funding source for the apparel industry and we were 100 percent confident in the firm's ability to structure and lead the financing facility."

CIT Commercial Services, a leading provider of lending services, credit protection, factoring and accounts receivable management services for consumer product companies, agented and funded the transaction.

About CIT Commercial Services

CIT Commercial Services is a unit of CIT Group Inc. and is one of the United States' leading providers of factoring, accounts receivable management, credit protection, and lending services. Commercial Services specializes in serving the apparel, footwear, furniture, home furnishings, consumer electronics and other consumer products industries that sell into retail channels of distribution. CIT Commercial Services is headquartered in New York City and has offices in Charlotte, Dallas, Los Angeles, Danville, VA, Frankfurt, German, Hong Kong, Shanghai and Taiwan.

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 $80 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.

About GB Merchant Partners

GB Merchant Partners, LLC www.gbmerchantpartners.com is the investment management affiliate of Gordon Brothers Group with over $600 million of available capital taking majority and minority equity positions in middle market companies. GB Merchant Partners leverages Gordon Brothers Group's consumer products and retail expertise, and prefers to partner with management teams to complete a buyout, fund growth or facilitate a restructuring. In addition, GB Merchant Partners provides structured loans and purchases secondary securities.

About Crystal Capital

Established by a team of experienced financial professionals, Crystal Capital www.crystalcapital.com is an investment firm that provides capital for middle market companies across all industries. The founding principals each have over 25 years of experience and have provided in excess of $15 billion in creative capital commitments for buyouts, recapitalizations, refinancings and growth opportunities.