Exhibit 99.2

[CIT Logo]

                        CIT ANNOUNCES QUARTERLY DIVIDEND
                             FOR SECOND QUARTER 2003

Livingston, NJ - July XX, 2003 - CIT Group Inc. (NYSE: CIT) today announced that
its Board of Directors has declared a regular quarterly cash dividend of $.12
per share, payable on August 29, 2003, to shareholders of record on August 15,
2003.

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 nearly $50 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. CIT holds leading
positions in vendor financing, U.S. factoring, equipment and transportation
financing, Small Business Administration loans, and asset-based and
credit-secured lending. CIT, with its principal offices in New York City and
Livingston, New Jersey has approximately 6,000 employees in locations throughout
North America, Europe, Latin and South America, and the Pacific Rim. For more
information, visit www.cit.com.

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Investor Relations Contacts                                   Media Contacts
- ---------------------------                                   --------------
Valerie Gerard.                                               Yvette Rudich
CIT                                                           CIT
(973) 422-3284                                                (973) 597-2095