CIT serves as financial adviser to Bilfinger Berger on Alberta road project



    TORONTO, Aug. 28 /CNW/ - CIT Group Inc. (NYSE:   CIT), a leading global
commercial finance company today announced it has served as financial advisor
and on July 29th, achieved financial close for the Northwest Anthony Henday
Drive Ring Road Project in Edmonton, Alberta, Canada (the "Project"). CIT
Canada, through its Energy & Infrastructure unit, served as the exclusive
financial advisor to Bilfinger Berger Project Investments Inc. ("Bilfinger
Berger") on behalf of NORTHWESTCONNECT.
    NORTWESTCONNECT, a consortium led by Bilfinger Berger, is comprised of
Flatiron Constructors Canada Limited, Parsons Overseas Company of Canada Ltd.,
Graham Infrastructure, and Carmacks Maintenance Services Ltd.
    The Project, awarded under Alberta's public-private-partnership ("P3")
procurement model, involves the design, construction, finance and operation of
a new highway consisting of approximately 21 kilometers of four-to-six lane
divided freeway, including eight interchanges, five flyovers and two rail
crossings. The Project is valued at approximately C$1.42 billion (NPV) and has
a concession period of approximately 33 years.
    "CIT is uniquely positioned to provide independent advisory services in
support of large and complex financing structures like the Northwest Anthony
Henday Drive deal. Our market knowledge and significant direct experience with
principal investing, arranging and advising is ideally suited to raising
capital in turbulent market conditions such as these." said Peter Hepburn,
Managing Director of CIT Energy & Infrastructure. "We are proud to be once
again assisting Bilfinger Berger in successfully bidding for and achieving
financial close on this important infrastructure project for the Province of
Alberta."
    The Energy & Infrastructure group has established a solid track record in
supporting Bilfinger Berger on P3 projects in Canada having successfully
provided financial advisory and arranging services on two other major
transportation projects in Canada, Kicking Horse Canyon Highway in British
Columbia (2005) and the Northeast Stoney Trail in Alberta (2007).
    "We are pleased to have CIT working with us in delivering this key
component of road infrastructure," said John McArthur, President of Bilfinger
Berger Projects Investments Inc.
    Individuals interested in receiving future updates on CIT via e-mail can
register at http://newsalerts.cit.com.

    About CIT Canada

    CIT Canada, a leading commercial 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, and
Healthcare Finance. CIT Canada is a unit of CIT (NYSE:   CIT), a member of the
S&P 500 and Fortune 500. CIT is a global commercial finance company with more
than one million customers in over 50 countries and across 30 industries. CIT
has more than $70 billion in managed assets, and provides financial solutions
for more than half of the Fortune 1000. The CIT brand platform, Capital
Redefined, articulates its value proposition of providing its customers
relationship, intellectual and financial capital to yield infinite
possibilities. Founded in 1908, CIT is celebrating its Centennial throughout
2008.
    www.cit.ca

    About Bilfinger Berger Project Investments Inc.

    Actively operating across three continents, Bilfinger Berger Project
Investments is the Public Private Partnership (PPP) investment division of the
Bilfinger Berger Group, a global multi-service business with more than
125 years of experience in the successful delivery of essential infrastructure
and services worldwide. Bilfinger Berger Project Investments has committed
more than CAN$512m of equity to PPP projects worldwide, manages more than
CAN$10.8bn of assets and has over 120 staff based in 9 offices around the
world. Over the last ten years, Bilfinger Berger Project Investments has
successfully developed - and is now actively providing - operational services
to a portfolio of more than twenty concessions in both social and transport
infrastructure.
    www.pi.bilfinger.com/





For further information:

For further information: CIT CANADA MEDIA RELATIONS, Mike Ferreira,
Director of Marketing, (416) 507-5112, mike.ferreira@cit.com; BILFINGER BERGER
PROJECT INVESTMENTS INC, John McArthur, President, (905) 530-2336,
john.mcarthur@pi.bilfinger.ca

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