NYSE To Suspend Trading In CIT Group Inc. And Related Securities - Moves To Remove From The List

NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of CIT Group Inc. (the “Company”) – ticker symbol CIT – as well as the 3 related listed securities below, should be suspended prior to the market opening on Tuesday, November 3, 2009.

This decision was reached in view of the Company’s November 1, 2009 announcement that its Board of Directors has voted to proceed with voluntary filings for CIT Group Inc. and CIT Group Funding Company of Delaware LLC with the U.S. Bankruptcy Court for the Southern District of New York, pursuant to the Company’s prepackaged plan of reorganization that received the requisite levels of support from the Company’s debtholders.  The Company proceeded with these voluntary filings on November 1, 2009.  Separately, conditions for consummating the Company’s alternative exchange offers were not met. Accordingly, under the proposed prepackaged plan of reorganization, all existing common and preferred stock will be cancelled upon emergence.  As a result, NYSE Regulation has determined that the Company is no longer suitable for listing.

The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Applications to the Securities and Exchange Commission to delist the issues are pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.  The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

Company contact:

Ken Brause

1-866-54CITIR