The CIT Group/Commercial Services Appoints David L. Bram Executive Vice President

Furniture World Magazine

The CIT Group/Commercial Services announced today that David L. Brain has been promoted to Executive Vice President. In this position, Mr. Brain is responsible for and oversees all aspects of customer credit. "David is an integral part of Commercial Services and continues to make valuable contributions to asset quality, client service, and the company's overall strategic direction," said Lawrence A. Marsiello, President and Chief Executive Officer. "He is a talented and energetic executive who has distinguished himself as both a leader and manager." Previously, Mr. Brain was Senior Vice President and Customer Credit Manager with the company. Before joining The CIT Group in 1982, he was an Assistant Credit Manager with Manufacturers Hanover Commercial Corporation. Mr. Brain also spent 17 years at Milberg Factors. Mr. Brain earned a Bachelor of Science in Finance from Long Island University. He is on the board of directors of the New York Credit and Financial Management Association and a member of CIT's Senior Management Group. The CIT Group/Commercial Services (www.citgroup.com/cs.htm) is the nation's leading provider of customized credit protection and lending services including domestic and international factoring services, working capital and term loans, letter of credit programs, bulk purchases of accounts receivable and accounts receivable bookkeeping and collection services. Founded in 1908, The CIT Group, Inc. (NYSE:CIT) is a $23 billion asset-based lender which offers loans to businesses and consumers throughout the U.S. through eight strategically focused business units.