CIT Appoints Michael E. Roemer Chief Auditor

CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced the appointment of Michael E. Roemer (48) as Executive Vice President, Internal Audit effective May 10, 2010. He will report directly to the Audit Committee of the Board of Directors.

Roemer will be responsible for conducting a continuous risk assessment of CIT, while executing an audit plan as approved by the Audit Committee. In addition, he will work to improve the efficiency and effectiveness of audit activities throughout the organization and ensure the Company’s compliance with Sarbanes Oxley and Anti-Fraud compliance related issues.

Previously, Roemer was Senior Vice President and Director of Internal Audit at American International Group. Prior to AIG, he was Senior Vice President in the General Audit Department of JP Morgan Chase after serving in various auditing roles with increasing responsibility within the organization since 1984.

About CIT

Founded in 1908 and headquartered in New York City, CIT (NYSE: CIT) is a bank holding company with approximately $45 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. www.cit.com