Exhibit 99.1
FOR IMMEDIATE RELEASE
CIT TO REPURCHASE UP TO $200 MILLION OF COMMON STOCK
NEW YORK – May 30, 2013 –CIT Group Inc. (NYSE: CIT)cit.com, a leading provider of financing and advisory services to small businesses and middle market companies, today announced that its Board of Directors approved the repurchase of up to $200 million of common stock through December 31, 2013.
“We are very pleased to announce this share repurchase plan,” saidJohn A. Thain, Chairman and Chief Executive Officer. “The decision by our Board is reflective of the strength of our balance sheet and the significant progress that we have made at CIT.”
Management will determine the timing and amount of any share repurchases under the share repurchase authorizations based on market conditions and other considerations. The repurchases may be effected in the open market, through derivative, accelerated repurchase and other negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
EDITOR’S NOTE:
Watch the CITcorporate overview video (cit.com/corporatevideo) that showcases CIT’s support of the small business, middle market and transportation sectors.
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About CIT
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35billion in financing and leasing assets. It provides financing and leasing capital and advisory services to its
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clients and their customers across more than 30 industries. CIT maintains leadership positions insmall business andmiddle market lending,factoring,retail finance,aerospace,equipmentandrail leasing, andvendor finance.CIT also operatesCIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bankBankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals.cit.com
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CIT MEDIA RELATIONS:
C. Curtis Ritter
Director of Corporate Communications
(973) 740-5390
Curt.Ritter@cit.com
Matt Klein
Vice President, Media Relations
(973) 597-2020
Matt.Klein@cit.com
CIT INVESTOR RELATIONS:
Ken Brause
Executive Vice President
(212) 771-9650
Ken.Brause@cit.com
