#### Press Release ##########

CIT Announces That Discussions with Government Agencies Have Ceased

NEW YORK--CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that it has been advised that there is no appreciable likelihood of additional government support being provided over the near term.

The Company's Board of Directors and management, in consultation with its advisors, are evaluating alternatives.

##### Press Release #########

Despite all this talk in getting credit flowing, a major creditor to small business appears in serious trouble.

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