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“The Benefits of Leasing Technology in a Market Downturn” Featured on CIT’s “Executive Spotlight” Series

Technology leasing is a growing trend among companies seeking to maintain a competitive advantage through access to the latest equipment and services without making large capital investments, according to Ron Arrington, President of Vendor Finance for CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies. This is just one of the insights Arrington offers in “The Benefits of Leasing Technology In A Market Downturn,” the latest in a series of in-depth executive Q&As featured in CIT’s “Executive Spotlight” series (http://executive-spotlight.cit.com).

Arrington explains the numerous benefits leasing provides and why it is an increasingly attractive solution for organizations looking to upgrade their technology infrastructure amid a challenging market. “Overall, leasing allows companies to allocate capital to where it makes the most sense for the company’s long-term success, rather than tying it up in assets that depreciate or become obsolete over time."

He goes on to reveal why organizations are gravitating toward the leasing model, noting that, “While leasing can be beneficial to virtually any private or public organization in most any industry, the most fertile area for growth is in information technology, where the fast pace of innovation results in an accelerated product lifecycle. Organizations are shifting toward leasing to free-up capital and shift costs between capital and expense budgets.”

EDITOR’S NOTE:

Individuals interested in listening to Mr. Arrington’s podcast, “The Changing Landscape of Vendor Financing,” can download it at “5 Minute Capital” (www.5minutecapital.com).

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

About CIT Vendor Finance

CIT Vendor Finance is a global leader in financing solutions that drive incremental revenues for manufacturers, distributors, and product resellers. It provides customized financing solutions to customers in more than 30 countries, supporting a wide variety of industries, including office products, communications, and technology.

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 Fortune 500. www.cit.com

Contacts:

CIT MEDIA RELATIONS:
C. Curtis Ritter, 212-461-7711
Vice President
Director of External Communications & Media Relations
Curt.Ritter@cit.com
or
CIT INVESTOR RELATIONS:
Ken Brause, 212-771-9650
Executive Vice President
Ken.Brause@cit.com

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