“Technology Financing as a Strategic Tool” Featured on CIT’s “5 Minute Capital” Podcast Series

Technology leasing has become increasingly popular for companies seeking to enhance their competitive edge while also advancing their “green” strategies, 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. These are just some of the benefits of technology leasing that Arrington discusses in “Technology Financing as a Strategic Tool,” the latest installment of CIT’s award-winning “5 Minute Capital” (www.5minutecapital.com) podcast series.

In describing how technology leasing is helping companies go “green” Arrington explains, “If you think about the amount of technology that companies have in their data centers, they use tremendous amounts of energy, which is a big cost for them. By leasing, rather than purchasing new equipment, companies can increase their overall efficiency and make their operations more environmentally friendly. Adding technology that is more efficient and uses less energy will help reduce costs, and benefit the company’s operating line, as well as the environment.”

Arrington also discusses how technology leasing is helping companies contain costs, while still enjoying the enhanced efficiencies of the latest IT systems and technologies. “For many companies, IT systems are the backbone of their businesses, so regularly updating them with the latest servers, network equipment and storage technologies is a critical part of staying competitive. Technology leasing provides an affordable way to do this and realize the benefits of more efficient equipment while staying within their budgets,” adds Arrington.

EDITOR’S NOTE:

Individuals interested in listening to Mr. Arrington’s first podcast, “The Changing Landscape of Vendor Financing,” can download it at “5 Minute Capital” (www.5minutecapital.com). In addition, Mr. Arrington provides additional commentary on “The Benefits of Leasing Technology In A Market Downturn,” in a recent installment of CIT’s “Executive Spotlight” series, which is available at: http://executive-spotlight.cit.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, factoring, 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