CIT Group Inc. (NYSE:CIT) announces a share repurchase program. Under the program, the company will repurchase up to $300 million of its outstanding common stock. The repurchases may be effected in the open market through derivative, accelerated repurchase and other negotiated transactions, and through plans designed to comply with Rule 10b5- 1(c) under the Securities Exchange Act of 1934, as amended.

The management will determine the timing and amount of any share repurchases under the share repurchase authorizations based on market conditions and other considerations. The repurchase program will expire on December 31, 2014.