CIT Group Places $200 Million GE Engine Order

Released on Thursday, March 08, 2007

March 08, 2007 -- EVENDALE, Ohio -- CIT Aerospace, a unit of CIT Group, Inc. (NYSE: CIT) has selected GE Aviation's advanced GEnx-1B64 engine to power three Boeing 787 aircraft and the CF6-80E1 to power four Airbus A330 aircraft. The engine order is valued at approximately $200 million at list price. CIT Aerospace will take delivery of aircraft powered by the GE engines between 2008 and 2013.

CIT Group is one of the world's largest publicly held commercial finance organizations with more than $74 billion in managed assets. CIT Aerospace provides financing solutions to a broad spectrum of the global aerospace value chain ranging from operators of commercial and business aircraft to manufacturers and suppliers in the aerospace, defense, and homeland security industries.

Testing on the GEnx engine for the Boeing 787 Dreamliner began in 2006 with engine certification for the GEnx-1B powering the 787 Dreamliner scheduled for 2007. The CF6-80E1 engine was developed specifically for the twin-engine A330 and offers customers' significant savings on fuel burn and maintenance costs. It is part of GE's CF6 engine family, which is among the most utilized and reliable jet engines in the world. With more than 220 CF6 customers worldwide and more than 5,600 engines delivered to date, the CF6 engine has provided reliable service for almost 300 million flight hours.

GE Aviation, an operating unit of General Electric Company (NYSE: GE), is one of the world's leading manufacturers of jet engines for civil and military aircraft. GE also is a world-leading provider of maintenance and support services for jet engines.