CIT And The Tennessee Hospital Association Announce Financing Agreement

TEMPE, Ariz., Nov. 16 /PRNewswire-FirstCall/ -- CIT Healthcare Finance, a unit of CIT Group Inc. , today announced an agreement with The Tennessee Hospital Association (THA), to provide its local member hospitals with innovative financing solutions. THA is the premiere organization in Tennessee that promotes and represents the interests of all health careers, hospitals and health systems.

CIT Healthcare Finance will provide The Tennessee Hospital Association with a wide range of financing solutions for medical equipment, information technology systems, telecommunications systems, furniture/fixtures and real estate.

"CIT Healthcare Finance has the ability to provide customized solutions to meet the unique needs of urban, suburban and rural hospitals," said Kevin Walsh, Business Development Manager, CIT Healthcare Finance. "At a time when many lenders are reducing their healthcare exposure, CIT Healthcare Finance has a thorough understanding of the healthcare marketplace which enables them to offer the most aggressive financing rates to the full spectrum of healthcare credits."

About CIT Healthcare Finance

CIT Healthcare Finance is one of the country's leading providers of financial services and solutions to the healthcare industry. The company provides a wide array of financial offers especially designed to meet the needs of specialty outpatient healthcare providers, including ambulatory care providers, specialty healthcare physician practices, hospital and health systems, equipment manufacturers, distributors and other medical facilities and healthcare industry organizations.

About CIT

CIT Group Inc. , 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 5,800 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20041004/NYM003LOGOCIT Healthcare Finance

CONTACT: Luis Gonzalez of CIT Healthcare Finance, +1-480-379-3449,luis.gonzalez@cit.com; or Jamie Morgan of MWW Group, +1-201-964-2380,jmorgan@mww.com, for CIT Healthcare Finance

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