Cit Grp. Pfd A (fka CIT-A)

[Jean01234]

from my broker
The company CIT GROUP INC is exiting bankruptcy as the creditors to the company have accepted the company's plan of reorganization and the company has emerged from bankruptcy effective 12/11/2009. According to a press release from the company, the Company¿s existing common and preferred stock, along with all non-reinstated debt, will be canceled effective upon consummation of the Plan. While we have not yet received an official indication, it is not expected that common shareholders of CIT GROUP INC (CITBQ) will receive a distribution as part of this emergence from bankruptcy. For further inquiry, we recommend contacting the investor relations department of the company at 1-866-54CITIR (542-4847) or [e-mail]. At this time we have no plans of removing the positions from any accounts. Please contact us again if you have any additional questions.