CIT Group Inc. (NYSE: CIT) announced that it has commenced an offer to purchase for cash subject to certain terms and conditions, up to a total of $800 million aggregate principal amount of its outstanding (i) 5.500% Series C Unsecured Notes due 2019, (ii) 5.375% Senior Unsecured Notes due 2020 (the "2020 Notes") and (iii) 5.000% Senior Unsecured Notes due 2022, subject to the Series Cap (as defined below) for both the 2020 Notes and the 2022 Notes. The 2019 Notes are not subject to any Series Cap.

The terms and conditions of the Tender Offer are described in an Offer to Purchase dated Sept. 15, 2017 and a related Letter of Transmittal (together, the "Offer Documents"). Holders of the Notes are urged to carefully read the Offer Documents before making any decision with respect to the Tender Offer.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $50 billion in assets as of June 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information visit cit.com.