Exhibit 99.1

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                                     Media Contact:    Kelley J. Gipson
                                                       Executive Vice President
                                                       Director of Marketing and
                                                       Corporate Communications
                                                       (973) 422-3235

                                     Investor Contact: Steve Klimas
                                                       Vice President
                                                       Investor Relations
                                                       (973) 535-3769

               CIT ANNOUNCES SALE OF MICRO-TICKET LEASING BUSINESS

NEW YORK, NY, November 9, 2005 -- CIT Group Inc. (NYSE: CIT), a leading
provider of commercial and consumer finance solutions, today announced that it
has signed an agreement to sell its micro-ticket leasing business unit (Lease
Finance Group), to affiliates of Cerberus Capital Management, L.P. and Goldman
Sachs. The sale is consistent with CIT's continued focus on the redeployment of
capital into targeted strategic growth opportunities.

The sale includes approximately $295 million in equipment leases and related
infrastructure. The transaction, which is subject to customary closing
conditions, is expected to close on or before year end. Other terms of the deal
were not disclosed.

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 over $60 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. With its Global
Headquarters in New York City, CIT 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.