CIT Arranges Senior Debt Facility for the William Osler Health Centre

NEW YORK, Jan. 11 /PRNewswire-FirstCall/ -- In November 2004, CIT Capital Finance, a unit of CIT Group Inc. , and a leading advisor and arranger of project finance transactions, announced the completion of a senior debt facility for the new William Osler Health Centre Hospital Facility in Brampton, Ontario.

The new facility, with a total construction value of $450 million, sponsored by The Healthcare Infrastructure Company of Canada, is to provide a 608-bed, acute care hospital under a design, build, finance, operate and maintenance contract with a 25-year operating period. The construction of the new hospital is scheduled for completion in July 2007.

"We are proud to play a significant role in this first-of-type healthcare public-private partnership in Ontario," commented Peter Hepburn, Senior Director of North American Infrastructure Finance for CIT Power, Energy and Infrastructure, a division of CIT Capital Finance.

The construction and non-clinical operation and maintenance of the new hospital has been contracted to EllisDon Corporation and Carillion Canada Inc.

All clinical patient care services will continue to be provided by the William Osler Health Centre within the Province of Ontario's publicly funded health care system. The Healthcare Infrastructure Company of Canada is comprised of Borealis Infrastructure Management, Carillion Canada Inc. and EllisDon Corporation.

About CIT Capital Finance

CIT Capital Finance, a unit of CIT Group Inc. provides operating and long- term leasing, acquisition financing, senior and subordinate term debt, underwriting and syndication, financial modeling and advisory services to customers and clients in a variety of industries including aerospace, rail, real estate, power, energy and infrastructure. Capital Finance's core groups include: Aerospace, Rail Resources, Power, Energy and Infrastructure, Structured Debt and Leasing and Real Estate Financing.

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/.