Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 15, 2008, CIT Group Inc. announced that William J. Taylor (57), Executive Vice President & Controller, advised CIT that he intends to retire effective December 31, 2008. Mr. Taylor, who joined CIT in 1989, has agreed to continue to work as a consultant to CIT following his retirement to facilitate the transition of his responsibilities and completion and filing of year-end financial statements. Jonathan Macey, Senior Vice President of External Reporting and Accounting Policy, who joined CIT in 1999, has been appointed Interim Controller effective January 1, 2009. Prior to joining CIT, Mr. Macey served as Senior Vice President, Controller and Principal Accounting Officer of Beneficial Corporation.

Forward-Looking Statement

This document 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's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this document that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding market, competitive and/or regulatory factors, among others, affecting CIT's businesses are examples of factors that could cause actual results to differ materially from those described in the forward-looking statements. More detailed information about these factors are described in CIT's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. CIT is 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.

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