Exhibit 99.2

[CIT Logo]

                              Investor Contact:  Valerie L. Gerard
                                                 Senior Vice President
                                                 Investor Relations
                                                 CIT Group Inc.
                                                 973.422.3284

                              Media Contact:     Christopher J. Hardwick
                                                 Vice President
                                                 External Communications and
                                                 Media Relations
                                                 CIT Group Inc.
                                                 973.597.2095

CIT ELECTS TIMOTHY RING TO BOARD OF DIRECTORS

NEW YORK, NY, January 18, 2005 - CIT Group Inc. (NYSE: CIT) announced today that
Timothy M. Ring,  Chairman and Chief  Executive  Officer of C. R. Bard, has been
elected  to  CIT's  Board  of  Directors  and as a  member  of the  Compensation
Committee of the Board, effective today. With the appointment of Mr. Ring, CIT's
Board now consists of 11 members, including 10 independent directors and Jeffrey
M. Peek, CIT's Chairman and Chief Executive Officer.

"Timothy Ring is a great addition to our board," Peek said.  "His  experience in
leading a global  company and his knowledge of the  fast-growing  healthcare and
medical  technology  markets  complement the range and depth of experience among
our  directors  and make him  particularly  valuable as we continue to build our
presence in the healthcare finance sector."

Mr.  Ring has served as  Chairman  and Chief  Executive  Officer for C. R. Bard,
Inc.,  since  August  2003.  The company is a leading  multinational  developer,
manufacturer, and marketer of innovative, life-enhancing medical technologies in
the fields of Vascular,  Urology and Oncology and Surgical  Specialty  products.
During his 12-year career with the Company, Mr. Ring has held a number of senior
executive  positions  including Group President since April 1997 to August 2003.
Prior to C. R. Bard,  Mr.  Ring  worked for  Abbott  Laboratories  for nearly 10
years.

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  approximately  $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, a Fortune
500 company and a component  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. CIT, with its principal
offices in  Livingston,  New Jersey and New York City, 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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