Survey Predicts Growth and Investment In Small Business

Small business owners and executives possess a positive outlook about the state of the national economy, according to the 2004 CIT Small Business Outlook, a nationwide survey conducted jointly by CIT Group Inc. (NYSE: CIT - News) and BusinessWeek Research Services.

"The enthusiasm expressed by small businesses across the country indicates that the U.S. is indeed experiencing an economic recovery," said John Canning, President of CIT Small Business Lending Corporation, a subsidiary of CIT. "Throughout 2004, small business has been one of the fastest growing segments of the national economy and, according to our survey results, we can expect this growth to continue into 2005. This is positive news for entrepreneurs and corporate America alike."

Other significant survey findings include:

• 85 percent of small business owners and executives surveyed
  believe that now is a good time for companies/firms to invest in their
  organizations;
• 72 percent of survey participants are confident about the future of
  the U.S. economy;
• Eight out of 10 believe that their sales revenue will increase in
  fiscal 2004 compared with 2003 and 45 percent believe that sales will
  increase by 20 percent or more in 2004;
• 74 percent of survey participants feel that U.S. companies will
  increase their spending over the next 12 months;
• 54 percent expect consumer spending to increase over the next 12
  months.

The 2004 CIT Small Business Outlook, conducted online, surveyed 482 representatives of small businesses nationwide that have, on average, 72 employees and gross annual sales of $3.2 million. Surveyed participants represented 37 different types of businesses/industries, including consulting services, information technology, financial services and healthcare/pharmaceuticals.

A summary of the survey results will be available at http://www.cit.com.

CIT Small Business Lending Corporation

CIT Small Business Lending Corporation offers Small Business Administration (SBA) loans to finance business acquisitions, owner-occupied real estate purchases and franchise start-ups through a network of field representatives. The nation's No. 1 SBA lender, CIT Small Business Lending has been designated a "Preferred Lender" by the SBA and can provide quick credit decisions and loan closings. The company's website and online SBA loan application are located at http://www.smallbizlending.com.

About CIT

CIT Group Inc. (NYSE: CIT - News), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has nearly $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, holds leading positions in vendor financing, U.S. factoring, equipment and transportation financing, Small Business Administration loans, and asset-based and credit-secured lending. CIT, with its principal offices in Livingston, New Jersey and New York City, has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com.

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