CIT To Lease Two B737s to Miami Air.

Business/Aerospace & Aviation Editors

NEW YORK--(BUSINESS WIRE)--August 22, 2000

CIT Aerospace, a division of The CIT Group's Capital Finance unit (NYSE: CIT; TSE: CIT.U), today announced that Miami Air will lease two B737-800s with CFM56-7B26 engines. The first aircraft will be delivered in April 2001 and the second in May 2001.

"CIT Aerospace is pleased to add Miami Air to our growing family of commercial airline customers," said Jeffrey C. Knittel, President of CIT Aerospace. "We are excited to be able to work with Miami Air as they continue to grow and expand successfully and we believe that the Boeing 737-800 aircraft will prove to be a great success for the airline going forward."

"We are very excited about working with CIT Aerospace as they have years of experience and deep knowledge of the aerospace industry," said Ross Fisher, President of Miami Air. "This leasing contract represents years of long term personal relationships and greatly accommodates the needs of our company."

Founded in 1990, Miami Air International is one of the premier charter airlines in the industry that covers most destinations in the Americas. The company is based in Miami, Fla.

About CIT

CIT Aerospace has more than 85 airline customers worldwide and a portfolio of more than 250 commercial aircraft from all major aircraft manufacturers. CIT Aerospace, a unit of Capital Finance, a CIT operating group, offers customized leasing and financing packages for new and used aircraft with a special focus on operating leases for commercial airlines worldwide.

Founded in 1908, The CIT Group is the world's largest publicly held commercial finance company, with over $50 billion in managed assets. For more information visit www.citaerospace.com.