CIT Serves as Exclusive Financial Advisor, Arranger and Administrative Agent For a $93 Million Youth Justice Facility Project



    C$93 Million Transaction Will Finance Innovative Youth Justice Facility

    TORONTO, April 27 /CNW/ - CIT Group Inc., a leading global provider of
commercial and consumer finance solutions, announced today that CIT Canada,
through its Energy & Infrastructure group, served as sole financial senior
debt advisor, arranger, co-underwriter and administrative agent in connection
with the youth justice facility project in Brampton, Ontario and reached
financial close on the estimated C$93 million transaction together with Bird
Construction Company under a guaranteed price contract.
    The Project will involve the construction of new buildings and the
renovation of existing buildings. The objective of this new campus-style
facility is to offer a safe, secure and healthy rehabilitative living
environment for the effective management of youth in conflict with the law.
This $93 million build-finance project is being constructed for Infrastructure
Ontario acting as agent for the Province of Ontario. Construction began in
April 2007. Construction is scheduled for completion by the end of 2008 with
facility commissioning and official opening expected in the second quarter of
2009.
    "CIT is uniquely positioned to lead this transaction and we're proud to
be involved in socially responsible projects such as the Brampton youth
justice facility," said Peter Hepburn, Managing Director of CIT Energy &
Infrastructure. "This transaction reflects our commitment to advising and
investing in financing projects that further improve Canadian infrastructure
and our communities."

    About CIT Canada

    CIT Canada, a leading commercial and consumer finance company, provides
clients with financing, leasing products and advisory services. CIT Canada
offers industry-leading solutions through its key business units: Corporate
Finance, Equipment Finance, Vendor Finance, Energy and Infrastructure Finance,
Healthcare Finance, and Real Estate. CIT Canada is a unit of Fortune 500
parent, CIT Group Inc. Founded in 1908, CIT Group Inc. is a global financial
services company with almost $80 billion in managed assets and has
approximately 7,500 employees worldwide. www.cit.ca





For further information:

For further information: Mike Ferreira, CIT Canada, Director of
Marketing, (416) 507-5112, Mike.Ferreira@cit.com; C. Curtis Ritter, Director
of External Communications & Media Relations, (212) 461-7711,
Curt.Ritter@CIT.com

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