Opportunities and Challenges in Retail Lending Featured on CIT’s “5 Minute Capital” Podcast Series

Business Wire, June 24, 2009

NEW YORK -- CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today released another installment of “5 Minute Capital” (www.5minutecapital.com), its award-winning series of five-minute podcasts featuring senior CIT executives commenting on current market conditions, industry trends and future opportunities in the middle market.

In this installment, Burt Feinberg, Managing Director and Group Head, CIT Commercial & Industrial, Retail Finance, provides his perspective on the importance of the retail industry to the U.S. economy and how retail companies are meeting their financing needs in the current market.

Feinberg says, “What we’re finding in this economic environment is that companies that didn’t rely on asset-based lending in the past are now coming to us for that type of capital because it is a good, reliable way of borrowing without many covenants and restrictions in the loan documents. It gives companies a lot of financial flexibility in running their business.”

In commenting on the outlook for retailers in 2009, Feinberg adds, “Retailers are being cautious in terms of their inventory levels and their store growth. But on the heels of all of the liquidations and bankruptcies, those retailers that do survive will go into 2010 with an opportunity to be offensive again, to maybe start to grow their store base again and grow inventories again.”

EDITOR’S NOTE:

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About CIT

CIT (NYSE: CIT) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the S&P 500 and Fortune 500. www.cit.com