cit PressReleaseFINALDecember2003mergedLogo

CIT Group reported diluted EPS of $0.72 for Q4 2003, up 7.5% from the prior year quarter. Key highlights included: - Non-performing assets and delinquencies at their lowest levels since 1999. - Completed acquisition of HSBC factoring assets. - Recognized a $50.4M pre-tax gain from calling $735M in term debt. - Took a $63M pre-tax write-down to accelerate liquidation of its venture capital portfolio. - Chairman and CEO said CIT made "excellent progress" in 2003 and is well positioned for growth in 2004.