SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

DALY JOHN F

(Last)

(First)

(Middle)

C/O CIT GROUP

11 WEST 42ND STREET

(Street)

NEW YORK

10036

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/08/2007

3. Issuer Name and Ticker or Trading Symbol
CIT GROUP INC [ CIT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, Trade Finance

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	13,841	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option (Right to Buy)	⁽¹⁾⁽²⁾	01/17/2014	Common Stock	4,445	$56.54	D
Option (Right to Buy)	⁽¹⁾⁽³⁾	07/19/2013	Common Stock	8,000	$47.28	D
Option (Right to Buy)	⁽¹⁾⁽⁴⁾	01/18/2013	Common Stock	7,059	$51.43	D
Option (Right to Buy)	⁽¹⁾⁽⁵⁾	07/19/2015	Common Stock	25,000	$43.01	D
Option (Right to Buy)	⁽¹⁾⁽⁶⁾	01/18/2015	Common Stock	25,000	$41.89	D
Option (Right to Buy)	07/21/2007⁽⁷⁾	07/21/2014	Common Stock	33,334	$37.6	D
Option (Right to Buy)	01/21/2007⁽⁸⁾	01/21/2014	Common Stock	11,667	$39.22	D
Option (Right to Buy)⁽⁹⁾⁽¹¹⁾⁽¹²⁾	07/02/2002⁽¹⁰⁾	03/05/2009	Common Stock	8,258	$74.4731	D
Option (Right to Buy)⁽⁹⁾⁽¹²⁾⁽¹³⁾	07/02/2002⁽¹⁰⁾	11/19/2008	Common Stock	4,542	$70.2409	D

Explanation of Responses:

1. Options vest in increments of 1/3 per year on the anniversary of the grant date for a period of 3 years.

2. Options granted 1/17/2007.

3. Options granted 7/19/2006.

4. Options granted 1/18/2006.

5. Options granted 7/19/2005.

6. Options granted 1/18/2005.

7. Options fully vest on 7/21/2007.

8. Options fully vested on 1/21/2007.

9. Due to CIT?s IPO, Tyco options were cancelled by Tyco and replaced by CIT on 7//2/2002 with CIT options vesting under the same schedule as the Tyco options. The Tyco to CIT conversion formula is disclosed in CIT Group Inc. Prospectus dated 7/1/02 ?Management ? Treatment of Tyco Options and Tyco Restricted Shares Held by CIT Employees?.

10. Options were fully vested on 7/2/2002.

11. Options granted by The CIT Group, Inc. on 3/5/1999.

12. CIT options converted on 6/1/2001 into options of Tyco International Ltd. at the rate of .6907 Tyco option for 1 CIT option upon Tyco's acquisition of CIT.

13. Options granted by The CIT Group, Inc. on 11/19/1998.

	/s/ James P. Shanahan, attorney-in-fact for Mr. Daly	05/16/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.