CIT to Sponsor 2007 New York Philharmonic Concerts in the Parks Summer Series

NEW YORK, July 9 /PRNewswire-FirstCall/ -- CIT Group Inc. , a leading global provider of commercial and consumer finance solutions, announced that it will serve as the lead corporate sponsor of the 2007 New York Philharmonic Concerts in the Parks summer series taking place July 9-17 throughout New York and New Jersey. This summer marks the 43rd season of free Philharmonic concerts under the stars and the first year that concertgoers are encouraged to donate nonperishable food items to benefit local area food banks. In connection with this effort, CIT will also hold a food drive at its New York City offices and encourage its employees to contribute.

"CIT is proud to serve as the lead corporate sponsor of the 2007 New York Philharmonic Concerts in the Parks," said Jeffrey M. Peek, CIT Chairman and CEO. "By supporting this series of concerts, thousands of concertgoers will be able to enjoy the wonderful music of one of the world's most esteemed orchestras in some of the most beautiful parks in our area. In addition, we are proud that this year concertgoers will have the opportunity to give back to the community by donating to a local area food bank. I encourage everyone to come out and enjoy a concert under the stars and bring a nonperishable food item for those in need."

Zarin Mehta, New York Philharmonic President and Executive Director, said, "It is a special pleasure each year for us to offer free concerts in the beautiful parks of the Metropolitan area. This year, we're delighted to welcome back two wonderful conductors, Ludovic Morlot and Sir Andrew Davis, as well as two exciting young soloists, violinist Stefan Jackiw and soprano Measha Brueggergosman, who are making their Philharmonic debuts. We extend our deepest gratitude to CIT for enabling us to give this gift to the people of New York."

Concerts will take place on the following dates and locations: -- Monday, July 9 PNC Bank Arts Center, Holmdel, New Jersey -- Tuesday, July 10 Prospect Park, Brooklyn -- Wednesday, July 11 The Great Lawn, Central Park, Manhattan -- Thursday, July 12 Cunningham Park, Queens -- Friday, July 13 Snug Harbor, Staten Island -- Saturday, July 14 Heckscher State Park, East Islip, Long Island -- Monday, July 16 Van Cortlandt Park, Bronx -- Tuesday, July 17 The Great Lawn, Central Park, Manhattan

Representatives will be stationed at collection bins located at the entrances to each park, as well as at centrally located tables in each park.

All concerts begin at 8:00 p.m., with fireworks following in all locations except at the PNC Bank Arts Center. For further information, call the New York Philharmonic hotline at (212) 875-5709, or visit the Orchestra's Website, http://www.nyphil.org/.

About CIT

CIT Group Inc. , a leading global commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has approximately $80 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member 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. With its global headquarters in New York City, CIT has approximately 7,500 employees in locations throughout North America, Europe, Latin America and Asia Pacific. http://www.cit.com/

About the New York Philharmonic

Founded in 1842, the New York Philharmonic is the oldest symphony orchestra in the United States and one of the oldest in the world. Lorin Maazel became Music Director in September 2002, succeeding Kurt Masur, who was Music Director from 1991 until the summer of 2002. Other recent Music Directors include Zubin Mehta, Pierre Boulez, and Leonard Bernstein. Since its inception, the Philharmonic has played a leading role in American musical life, reaching out to audiences with touring that began in 1882; recordings beginning in 1917; radio broadcasts since 1922, now represented by The New York Philharmonic This Week, syndicated nationally 52 weeks a year, and available on the Orchestra's Website, nyphil.org. The Internet has further expanded the Philharmonic's audiences: the Philharmonic recently became the first major American orchestra to offer downloadable concerts, recorded live, on the DG Concerts label, exclusively on iTunes.

MEDIA CONTACTS: CIT C. Curtis Ritter Director of External Communications & Media Relations (212) 461-7711 Curt.Ritter@cit.com Mary Flynn Director, Media Relations 212-461-7860 Mary.Flynn@cit.com New York Philharmonic Melissa A.E. Sanders 212-875-5718 sandersm@nyphil.org