MIKE FLINT JOINS CIT BUSINESS AIRCRAFT AS VICE PRESIDENT, U.S. SALES

NEW YORK – August 23, 2012 – CIT Group Inc. (NYSE: CIT) a global leader in aircraft finance, today announced that CIT Business Aircraft named Mike Flint, Vice President, U.S. Sales with responsibility for originating new transactions and managing all aspects of CIT business aviation relationships in the United States.

“Companies and entrepreneurs have long recognized the productivity gained through the use of business aircraft,” said Mike Kahmann, Managing Director and Group Head, CIT Business Aircraft. “Mike’s addition to our team is further evidence of our commitment to providing financing solutions for business aircraft owners in the U.S.”

Flint joins CIT from GE Capital Corporation where he spent more than 20 years in various roles in aircraft and equipment financing. In his most recent role, Flint was Vice President and Sales Director, Corporate Aircraft Finance responsible for direct marketing and sales of corporate aircraft financing in a multi-state territory to Fortune 500 enterprises, middle-market companies, and high net-worth individuals. He managed all aspects of the sales cycle including origination, structure, and closing.