Care Investment Trust Inc. Announces an Agreement in Principle for CIT Healthcare to Purchase Mortgage Assets and Reduce Management Fee

NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- Care Investment Trust Inc.
(NYSE: CRE) ("Care"), a real estate investment and finance company
investing in healthcare-related real estate and commercial mortgage debt,
today announced an agreement in principle with its external manager, CIT
Healthcare that includes the following terms:

-- Care will receive an option to require CIT Healthcare to purchase up
to $125 million of mortgage assets on an individual basis at any time over
the next twelve months.

-- The assets will be sold at the fair market value at the time of sale
as determined by an independent third party.

-- Care's management fee payable to CIT Healthcare shall be reduced
from 1.75% to 0.875% of book equity, decreasing current expenses by
approximately $2.5 million per annum.

-- Care will issue 400,000 ten-year warrants at a strike price of $17
per share to CIT Healthcare under its Manager Equity Plan.

F. Scott Kellman, stated, "These important steps ensure that Care will
have the liquidity and earnings to accelerate the Company's transformation
to a growing healthcare REIT. The Company has an attractive pipeline of
investment opportunities which can now be aggressively pursued with the
liquidity provided by these new arrangements."

About Care Investment Trust

Care Investment Trust Inc. is a real estate investment and finance
company investing in healthcare-related real estate and commercial mortgage
debt. It is externally managed and advised by CIT Healthcare LLC, a
wholly-owned subsidiary of CIT Group Inc.

Safe Harbor Statement

This release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. All
forward-looking statements (including statements regarding future financial
and operating results) involve risks, uncertainties and contingencies, many
of which are beyond Care Investment Trust's control, which may cause actual
results, performance, or achievements to differ materially from anticipated
results, performance, or achievements. All statements contained in this
release that are not clearly historical in nature are forward-looking, and
the words "anticipate," "believe," "expect," "estimate," "plan," "target,"
and similar expressions are generally intended to identify forward-looking
statements. Economic, business, funding market, competitive and/or
regulatory factors, among others, affecting Care Investment Trust's
businesses are examples of factors that could cause actual results to
differ materially from those described in the forward-looking statements in
addition to those factors specified in Care Investment Trust's Annual
Report on Form 10-K for the year ended December 31, 2007. Care Investment
Trust is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements, whether as a
result of new information, future events or otherwise.

For more information on the company, please visit the company's website
at http://www.carereit.com