CIT Serves As Financial Advisor To Northeast Stoney Trail Project



    C$650 Million Transaction Will Finance 21 Kilometer Calgary Highway
    Project

    TORONTO, March 12 /CNW/ - CIT Group Inc. (NYSE:   CIT), a leading global
provider of commercial and consumer finance solutions, announced today that it
served as financial advisor to the Northeast Stoney Trail Project in Alberta,
Canada. CIT Canada, a unit of CIT, through its Energy & Infrastructure group,
closed the estimated C$650 million transaction with the Stoney Trail Group,
led by Bilfinger Berger BOT.
    The Project involves the design and construction of a 21 kilometer four
to six lane divided highway in Calgary and the operation and maintenance of
the highway for 30 years. The senior debt is a European bank debt solution
wrapped by a monoline insurer. This is the second monoline wrapped bank deal
in the Canadian market.
    "We're excited to have served as the financial advisor in the Northeast
Stoney Trail project," said Peter Hepburn, Managing Director of CIT Energy &
Infrastructure. "This transaction reflects our commitment to advising and
investing in long-term financing projects that further improve the Canadian
infrastructure."

    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
and Healthcare Finance. CIT Canada is a unit of Fortune 500 parent, CIT Group
Inc. (NYSE:   CIT). Founded in 1908, CIT Group Inc. is a global financial
services company with more than $74 billion in managed assets and 7,200
employees worldwide. www.cit.ca





For further information:

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

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