"Challenges and Opportunities in the Retail Sector" Featured in CIT Executive Spotlight Series

NEW YORK--(Business Wire)--
CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses
and middle market companies, today released another edition of CIT Executive
Spotlight, a series of interviews with CIT executives offering insights into
current trends in the industries CIT serves.

In this installment, Burt Feinberg, Managing Director and Industry Group Head
for the Retail Finance group within CIT Commercial & Industrial, provides his
view of the challenges and opportunities facing retailers today, the important
role the retail sector plays in the U.S. economy, how retailers are managing
through the credit crisis and the increased interest in asset-based lending in
the current environment.

In commenting on how the economic downturn has made CEOs think differently,
Feinberg says, "In the short term, CEOs are now focused on liquidity. CEOs got a
huge reminder that retail is a cyclical business, and they are now acting
accordingly. For the long run, they are looking at their cost structure and
balance sheet to be sure that they are not as vulnerable as they were in 2008-09
to a falloff in demand."

In discussing opportunities for lenders and clients, Feinberg says, "There are
great refinance opportunities for lenders right now as some very established
retail companies need more liquidity. Some credits that were once unsecured
borrowers are now looking to the asset-based lending (ABL) market, and there is
an opportunity to finance relatively strong companies and get good returns. For
retailers, particularly the stronger ones, there are opportunities to pick up
store locations that are being vacated by defunct players and renegotiate real
estate leases and other contracts. Stronger retailers can take an offensive
posture in this market by taking advantage of their liquidity."

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

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 S&P 500 and
Fortune 500. www.cit.com

CIT Group Inc.
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

Copyright Business Wire 2009