Exhibit 99.1

                        CIT ANNOUNCES QUARTERLY DIVIDEND
                            FOR FOURTH QUARTER 2003

      Livingston, NJ January 21, 2004-- CIT Group Inc. (NYSE: CIT) today
announced that its Board of Directors declared a regular quarterly cash dividend
of $.13 per share, an 8% increase over last quarter's dividend of $.12 per
share. The dividend is payable on February 27, 2004, to shareholders of record
on February 15, 2004.

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.

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


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