PR Newswire US, June 19, 2006, Monday

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PR Newswire US

June 19, 2006 Monday 12:30 PM GMT

HEADLINE: CIT Appoints James J. Duffy as Global Head of Human Resources;
Talent Development, Employee Focus and Strong Growth Culture are Top Priorities

DATELINE: NEW YORK June 19

BODY:
NEW YORK, June 19 /PRNewswire-FirstCall/ -- CIT Group Inc. (NYSE:CIT), a leading global provider of commercial and consumer finance solutions, today announced the appointment of James J. (Jim) Duffy as executive vice president and global head of Human Resources. In this role, he will develop strategies and programs that unify, engage and develop employees. Additionally, Duffy will build a corporate culture that aligns employees with business goals and facilitates sustained growth.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060619/NYM017 )
Jeffrey M. Peek, chairman and CEO of CIT, said, "As a visionary human resources executive with 30 years of world-class experience, Jim's appointment comes at a critical time in our 98-year history. As we evolve into a more growth-oriented company, Jim's expertise will help us attract and develop top talent, better engage our employees and further energize our corporate culture. A more unified and performance-driven culture will help drive CIT's growth and also create a best-in-class work environment for our employees."
Prior to CIT, Duffy was the senior vice president of Human Resources for Citigroup's Global Consumer Group -- a $13 billion business promoting a full range of consumer products, such as retail banking, credit cards, consumer finance, student loans, and mortgages, in more than 50 countries, through more than 200,000 employees. Before joining Citigroup, he held senior human resources positions at other major banking and manufacturing companies such as AlliedSignal, Ingersoll-Rand, Banker's Trust and GE.
In addition to his 30 years of human resources leadership experience, Duffy also serves on the Board of Jobs for America's Graduates and is a longtime supporter and sponsor of the Center for Advanced Human Resource Studies at Cornell University. He received his BA from Cornell's School of Industrial and Labor Relations.
About CIT
CIT Group Inc. (NYSE:CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has more than $67 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its global headquarters in New York City, CIT has more than 6,700 employees in locations throughout North America, Europe, Latin America, and the Pacific Rim. http://www.cit.com/ .
MEDIA RELATIONS:
C. Curtis Ritter
Director of External Communications & Media Relations
(212) 771-9603

Curt.Ritter@CIT.com

CONTACT: C. Curtis Ritter, Director of External Communications & Media
Relations, CIT Group Inc., +1-212-771-9603, Curt.Ritter@CIT.com
Web site: http://www.cit.com/
SOURCE CIT Group Inc.