CIT Announces Relationship with Tokyo Leasing to Offer Vendor Finance Solutions in Japan

CIT Group Inc. (NYSE: CIT), a leading global commercial finance company, today announced it established a business referral relationship with Tokyo Leasing Co., Ltd. (TSE:8579), a leading financial services company in Japan. Through this relationship CIT Vendor Finance is able to offer financing to its global vendor partners’ customers in Japan as Tokyo Leasing will become CIT’s preferred funding partner. In addition, the customer can access CIT and Tokyo Leasing for global vendor financing and structuring capabilities as they look to grow sales in Asia and around the world. "As we look to expand our global footprint Asia is an important market for CIT,” said Siming Li, Managing Director of CIT Global Vendor Finance, Asia. "Since we opened our Asia Service Center in Shanghai in September, 2007, business has grown steadily. We were pleased to have worked closely with Tokyo Leasing’s professional team, led by Ebihara-san, and look forward to developing this relationship in the future.” Tokyo Leasing President and CEO Masanori Ebihara, said, "As a leader in global vendor financing solutions, this relationship with CIT will enable us to offer our clients financing solutions to grow their businesses and allow us to grow our customer base as we seek to develop new vendor financing programs.” Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com. About CIT Vendor Finance CIT Vendor Finance is a global leader in financing solutions that drive incremental revenues for manufacturers, distributors and other intermediaries. It provides customized financing solutions to customers in more than 30 countries, supporting a wide variety of industries, including health care, industrial equipment and technology. About CIT 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. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com About Tokyo Leasing Co., Ltd. Tokyo Leasing specializes in the leasing and installment sale of office and information equipment, industrial machine tools, medical technology as well as aircraft and vehicles. Tokyo Leasing has been established in 1964 and has maintained a position of one of the leading leasing companies. Tokyo Leasing specializes in leasing and installment sale services of office equipment, IT devices, industrial machines, medical machines, and more. As well as leasing businesses, Tokyo Leasing plays important roles as "Total Solution Provider” by offering financial services to our customers including vendor financing, structured financing, transportation financing and securitization businesses. Especially in the area of vendor financing, Tokyo Leasing has strong experience in supporting both domestic and global vendors through vendor financing programs. Tokyo Leasing has global networks in New York, London, Hong Kong, Shanghai, Taiwan, Singapore and Malaysia. www.tokyoleasing.co.jp/english/index.html