Press Release

CIT and Care Investment Trust Inc. Announce Pricing of Care's Initial Public Offering and Commencement of Trading on the New York Stock Exchange (Ticker 'CRE')

Company Release - 6/22/2007 9:53 AM ET

NEW YORK, June 22 /PRNewswire-FirstCall/ -- CIT Group Inc. (NYSE: CIT), a leading global provider of commercial and consumer finance solutions, and Care Investment Trust Inc. (NYSE: CRE), a real estate investment and finance company, announced today the pricing of the initial public offering of 15,000,000 shares of Care Investment Trust at $15.00 per common share. Care Investment Trust has also granted the underwriters a 30-day option to purchase an additional 2,250,000 common shares from the Company to cover any over-allotments. Care Investment Trust is managed and advised by CIT Healthcare, a unit of CIT.

The net proceeds of the offering, after deducting underwriting discounts, commissions and expenses related to the offering, will be approximately $209.8 million (assuming the underwriters' over allotment option is not exercised).

The shares of Care Investment Trust are scheduled to begin trading today, June 22, 2007, on the New York Stock Exchange under the ticker symbol "CRE."

Credit Suisse and Merrill Lynch & Co. are serving as joint book-running managers. Banc of America Securities LLC, Bear Stearns & Co. Inc., UBS Investment Bank, Wachovia Securities, Piper Jaffray, RBC Capital Markets and Stifel Nicolaus are acting as co-managers.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made solely by means of a prospectus.

Interested persons may obtain copies of the prospectus from Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010-3629, attention: Prospectus Department, or by calling 1-800-221-1037, or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, NY 10080, attention: Prospectus Department (4th Floor), or by calling 1-866-500-5408.

About Care Investment Trust

Care Investment Trust Inc. is a real estate investment and finance company formed principally to invest in healthcare-related commercial mortgage debt and real estate. It is externally managed and advised by CIT Healthcare LLC, a wholly-owned subsidiary of CIT Group Inc.

About CIT Healthcare

CIT Healthcare offers a full spectrum of financing solutions and related strategic advisory services to companies across the healthcare industry throughout the United States. It meets the diverse commercial financing needs of U.S. healthcare providers.

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 $80 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in cash flow lending, 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 7,500 employees in locations throughout North America, Europe, Latin America and Asia Pacific.

The information found on, or otherwise accessible through, the above websites is not incorporated into, and does not form a part of this press release or any report or document CIT or Care Investment Trust files with or furnishes to the Securities and Exchange Commission.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements (including statements regarding future financial and operating results) involve risks, uncertainties and contingencies, many of which are beyond CIT and Care Investment Trust's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," "target," and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding market, competitive and/or regulatory factors, among others, affecting CIT and Care Investment Trust's businesses are examples of factors that could cause actual results to differ materially from those described in the forward-looking statements in addition to those factors specified in Care Investment Trust's Registration Statement on Form S-11 relating to its initial public offering, including under the headings "Risk Factors," "Special Note Regarding Forward Looking Statements" and Management's Discussion and Analysis of Financial Condition and Results of Operations. CIT and Care Investment Trust are under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Care Investment Trust Inc.

Contact: Media, C. Curtis Ritter, Director of External Communications & Media Relations, +1-212-461-7711, [email protected], or Investors, Steve Klimas, Vice President, +1-973-535-3769, [email protected], both of CIT; or Leslie Loyet of Financial Relations Board, +1-312-640-6672, [email protected], for Care Investment Trust