GRAEME SHANKS JOINS CIT BUSINESS AIRCRAFT AS VICE PRESIDENT, SALES

NEW YORK – August 20, 2012 – CIT Group Inc. (NYSE: CIT) a global leader in aircraft finance, today announced that CIT Business Aircraft named Graeme Shanks, Vice President, Sales with responsibility for originating new transactions and managing all aspects of CIT business aviation relationships in the Middle East, India and Africa.

“Entrepreneurs and companies around the world are realizing the time-savings of business aircraft,” said Mike Kahmann, Managing Director and Group Head, CIT Business Aircraft. “Graeme’s addition to our team is a demonstration of our determination to provide more efficient financing solutions for business aircraft owners in these growing regions.”

Shanks joins CIT from AMS Aircraft Limited where he was Senior Vice President/Head of Marketing, advising corporate clients and high net worth individuals on acquiring, managing and marketing business aircraft. Prior to joining AMS Shanks was a customer support account manager for Thales Aerospace supporting Europe, the Middle East, and Africa. He also served in the British Royal Navy.

Shanks is based in London, England.

About CIT Business Aircraft

CIT Business Aircraft provides financing solutions to business jet operators. Serving clients in more than 20 countries, it provides assistance in acquisition and financing of the proper aircraft for its client’s needs. Products include term loans, leases, pre-delivery financing, fractional share financing and vendor/manufacturer financing.