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No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased CIT common stock during the period described above, you have certain rights, and have until no later than 60 days from today in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or visit our website at http://www.brualdilawfirm.com/

The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company's financial condition. Specifically, CIT's public financial statements failed to account for tens of millions of dollars in loans to Silver State Helicopter ("Silver State"), which were highly unlikely to be repaid and should have been written off. On March 6, 2008, Keefe, Bruyette & Woods issued an analyst report on CIT lowering its first quarter 2008 earnings per share estimate by $.08 based on concerns that CIT would have to write down a significant portion of its private student loan portfolio, including the risk that the Company would have to charge off $179 million of private student loans made to students of Silver State, which recently filed for bankruptcy. As a result, CIT's stock price dropped $4.50 to close to $15.86 on March 6, 2008.