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    Exclusive Technology Channel Outlook Study Featured on CIT’s “5 Minute Capital” Series
    New Video Series Complements Company’s Award-Winning Podcast Program
    Wednesday, September 7, 2011 08:54 AM
    Technology Channel Outlook: Are SMBs Ready to Embrace Managed Services.

    NEW YORK--(BUSINESS WIRE)--Value added resellers (“VARs”) cite a lack of education as the primary barrier they face in selling managed services to small- and medium sized businesses (“SMBs”), according to Ron Arrington, Global President of CIT Vendor Finance. These are just some of the insights Arrington shares while discussing CIT’s exclusive managed services study,“Technology Channel Outlook: Are SMBs Ready to Embrace Managed Services.”

    The video interview, the first in a series, complements the company’s ongoing research and thought leadership programs and is part of the latest installment of CIT’s award-winning “5 Minute Capital” (www.5minutecapital.com) series, featuring senior CIT executive commentary on current market conditions and industry trends.

    Nearly two-thirds of VARs agree (54%) or strongly agree (8%) that their customers do not understand the benefits of managed services. Arrington says: “We have found that the most successful managed services programs are those in which the VAR clearly articulates the offering and quantifies the impact for the SMB. Likewise, when an SMB is committed to implementing a managed services solution, it soon realizes that it can play an important role in the growth plans of the company.”

    The research report, prepared in association with Forbes Insights, gathered the views of more than 100 executives at technology value-added resellers and technology channel partners that sell to SMBs.

    Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com

    EDITOR’S NOTE: Complimentary copies of the report are available for download at www.cit.com/managed-services

    About CIT

    Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35 billion in finance and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. www.cit.com

    Contact:

    CIT MEDIA RELATIONS:
    C. Curtis Ritter, 973-740-5390
    Director of Corporate Communications
    Curt.Ritter@cit.com
    or
    Matt Klein, 973-597-2020
    Vice President, Media Relations
    Matt.Klein@cit.com
    or
    CIT INVESTOR RELATIONS:
    Ken Brause, 212-771-9650
    Executive Vice President
    Ken.Brause@cit.com

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