Federman & Sherwood Announces That a Securities Class Action Lawsuit Has Been Filed Against CIT Group, Inc. (NYSE: CIT)

OKLAHOMA CITY, OK--(Marketwire - July 28, 2008) - On July 25, 2008, a class action lawsuit was filed in the United States District Court for the Southern District of New York against CIT Group, Inc. (NYSE: CIT). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from April 18, 2007 through March 5, 2008.

Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Tuesday, September 23, 2008, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:

Contact Information: William B. Federman FEDERMAN & SHERWOOD 10205 North Pennsylvania Avenue Oklahoma City, OK 73120 Email to: wfederman@aol.com www.federmanlaw.com