CIT AEROSPACE ANNNOUNCES NEW APPOINTMENTS

NEW YORK – July 18, 2012 – CIT Group Inc. (NYSE: CIT) a global leader in transportation finance, today announced that Damon J. D’Agostino has been named Chief Commercial Officer, CIT Aerospace. In this expanded role, Damon will be responsible for all aspects of the CIT Aerospace commercial strategy including aircraft placements, airline marketing and sales, contract management and negotiation, and new aircraft acquisitions.

Damon has been with CIT since 1994 when he joined the Commercial Airlines team as an Aerospace Analyst. Since 2006, he has been responsible for the global marketing and sales functions for CIT Aerospace, Commercial Airlines. He is based in the Ft. Lauderdale, FL office.

Gwyn Scourfield has been named Senior Vice President and Global Head of Marketing. He will be responsible for marketing and sales initiatives including the execution of our global sales strategy, strategic management of customer relationships, and leading the team of marketing and sales support.

Gwyn joined CIT in 2001 and since 2008 he has served as the Senior Regional Director for Marketing in the EMEA and Indian Subcontinent regions. He is based in the Dublin, Ireland office.

Additionally, Steve Mason has joined CIT as Vice President, Aircraft Analysis. In this role, Steve will be responsible for analysis of aircraft and engine performance, economics and technology, as well as investment analysis for aircraft procurement. Prior to joining CIT, Steve worked for International Aero Engines and served in a number of various roles at Rolls Royce. Steve is based in the New York office.