CIT Ranks as Leading Lender to Women and Minority Entrepreneurs

LIVINGSTON, NJ – CIT Small Business Lending Corporation, a subsidiary of CIT Group Inc. (NYSE: CIT), announced today that it ranked as the leading volume lender to women and minorities among lenders of SBA 7(a) loans. For its 2004 fiscal year, the SBA credited CIT with over $230 million in SBA 7(a) loan approvals to women and minority-owned businesses nationwide.

Out of 2,750 lenders, CIT provided more financing to women, veterans, African Americans, Native Americans, and Asian Americans than any other institution, and ranked second in loans to Hispanics. The results were based on activity in the SBA 7(a) loan program for the 2004 SBA fiscal year, which ran from October 1, 2003 through September 30, 2004. SBA 7(a) loans are the most frequently used of the agency’s business loan programs.

“We’ve worked hard to help small businesses succeed, and are extremely proud of our women and minority lending results,” commented John Canning, President of CIT Small Business Lending Corporation. “Our ranking demonstrates our nationwide commitment to open doors of opportunity for women and minority entrepreneurs.”

CIT is consistently cited as a small business advocate. In 2004, the company broke the SBA record for 7(a) loan approvals, securing its position as Top Volume Lender for the fifth consecutive year. For fiscal year 2004, the SBA currently credits CIT with over $891.3 million in SBA 7(a) loan approvals to 1,714 small businesses nationwide, outpacing its closest competitor by a margin exceeding $398 million.

“Through SBA products, CIT has built a strong track record of success in helping small businesses achieve their goals,” continued Canning. “Our partnerships with the SBA and local community organizations, along with our specialized representatives and streamlined loan processing procedures, have enabled our company to develop an unprecedented level of success in SBA lending.”

About CIT Small Business Lending Corporation
CIT Small Business Lending Corporation offers Small Business Administration (SBA) loans to finance business acquisitions, owner-occupied real estate purchases and medical and franchise start-ups through a network of field representatives. The nation’s #1 SBA lender, CIT Small Business Lending Corporation has been designated a “Preferred Lender” by the SBA and can provide quick credit decisions and loan closings. The company’s website and online SBA loan application are located at www.smallbizlending.com.

About CIT
CIT Group Inc., a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has approximately $50 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. CIT, with its principal offices in Livingston, New Jersey and New York City, has approximately 5,800 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit www.cit.com.