CIT Appoints Margaret D. Tutwiler Head of Communications, Marketing and Government Relations

CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced the appointment of Margaret D. Tutwiler (59) as Executive Vice President, Head of Communications, Marketing and Government Relations effective August 2, 2010. She will report directly to Chairman and Chief Executive Officer John A. Thain.

Mr. Thain said, "Margaret’s extensive governmental affairs and communications experience will play an important role as we look to strengthen CIT’s brand identity, which remains focused on supporting the small business and middle markets. Her strategic and creative thinking will help us position CIT for success and I look forward to working again with Margaret.”

Tutwiler will be responsible for overseeing internal and external communications activities, including employee communications, and media and government relations; public affairs practices, including community affairs and philanthropy, and corporate brand initiatives, including advertising and marketing.

Most recently, Tutwiler served as Senior Vice President and Head of Global Communications and Public Affairs of Merrill Lynch. Prior to this she was Head of Global Communications and Government Relations of NYSE Euronext (NYSE: NYX) and its predecessor company NYSE Group, Inc.

Tutwiler’s broad governmental affairs experience spans more than 20 years and included various senior level positions in the Reagan and both Bush Administrations.

During President George W. Bush’s presidency, she served as the U.S. Undersecretary of State for Public Diplomacy and Public Affairs under Secretary of State Colin Powell and as U.S. Ambassador to the Kingdom of Morocco.

Prior to this, Tutwiler served as President of a public relations firm and Senior Vice President for Public Affairs of the Cellular Telecommunications Industry Association.

Under the administration of President George H. W. Bush she held several positions in the James A. Baker III State Department including Spokesman, Assistant Secretary of State for Public Affairs and was also Assistant to the President for Communications.

During Ronald Reagan's presidency, Tutwiler’s roles included Assistant Secretary of the Treasury for Public Affairs under Secretary Baker and Deputy Assistant to the President for Political Affairs.

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About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $40 billion in finance and leasing assets. It provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. www.cit.com