CIT Announces Appointment of Peter Gaw as President of CIT Energy

CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced the appointment of Peter Gaw, 48, as President of CIT Energy. Based in Houston, Gaw will be responsible for developing and expanding CIT’s relationships with middle market companies in the exploration and production, oilfield service, natural resources and power sectors. "Peter’s appointment will allow us to further advance our key strategic initiatives as we look to significantly build our Energy business,” said Walter Owens, President of Corporate Finance at CIT. "His specialized knowledge and industry relationships will greatly benefit our efforts to provide financial solutions and services to our middle market clients.” CIT Energy is a leading provider of value-added financing and advisory products to higher-growth, entrepreneurial companies throughout the energy and power sector. By combining extensive industry experience, structuring expertise and underwriting capacity, the team provides comprehensive solutions to meet the most critical strategic and funding needs of CIT’s clients. Prior to joining CIT, Gaw was an Executive Vice President and Head of Energy & Resources Americas and Global Head of Power & Utilities at ABN AMRO Bank. In these roles, he was responsible for delivering a broad mix of both investment banking and commercial banking products and services. Prior to ABN AMRO, he held senior positions with CIBC and Chemical Bank. Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com About CIT Founded in 1908, CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $80 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. CIT will celebrate its Centennial beginning February 11, 2008. www.cit.com.