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January 01 2009

Operation HOPE and CIT Announce Partnership in Support of Future Financial Literacy Initiatives

Global Financial Literacy Summit Provides Historic Backdrop for Partnership Launch

WASHINGTON--(June 16, 2009)--Operation HOPE (HOPE), leading global nonprofit social investment banking and financial literacy empowerment organization, today announced a partnership with CIT Group Inc., a leading provider of financing to small businesses and middle market companies, that would generate support for Operation HOPE’s core portfolio financial literacy initiatives.

“I am very pleased to announce this new partnership with CIT as we launch our inaugural Global Financial Literacy Summit, June 17, 2009 in Washington, DC,” said John Hope Bryant, Founder, Chairman and CEO of HOPE. “We are proud to partner with CIT whose support has helped make this event possible and for their commitment to support our future financial literacy initiatives that empower underserved communities.”

CIT is a sponsor of the Global Financial Literacy Summit that is being held in Washington, DC on June 17th. This event, which features keynote addresses from Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corporation Chairman Sheila Bair, along with White House Senior Advisor to the President and Assistant to the President for Intergovernmental Relations Valerie Jarrett, will explore the importance of financial literacy as the fuel that drives sustainable and healthy consumer confidence in an unstable global economy. In addition, CIT has pledged its support to a number of programs in which its employees will volunteer their time to teach financial literacy in schools and low income communities.

Jeffrey M. Peek, Chairman and CEO of CIT, said, “CIT has a long history of supporting organizations that work to improve the lives of individuals facing challenges in their lives. Operation HOPE has shown its commitment to advancing financial literacy, which has taken center stage in the current economic crisis, and we are proud to partner with them in their efforts.”

For more about the summit or to register, visit www.operationhope.org/summit.

About CIT

CIT (NYSE:CIT) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the S&P 500 and Fortune 500. www.cit.com