CIT Arranges Acquisition Financing for ABC Funding, Inc.

  
    
  
  
    
      CIT 
      Group Inc. (NYSE: CIT), a leading global commercial finance company, 
      today announced that it arranged a senior secured credit line for ABC 
      Funding, Inc. (ABC) (OTCBB: AFDG) to complete its $42 million 
      acquisition of Voyager 
      Gas Corporation, a Texas-based energy company.
    
    
      Financing for the deal was arranged by CIT 
      Energy, a unit of CIT, which served as administrative agent.
    
    
      ”Middle market energy companies are actively 
      making deals and demonstrating their expertise at finding and developing 
      proved reserves in the United States,” said Peter 
      Gaw, President of CIT Energy. “We are 
      proud of the financial solution we provided and look forward to 
      continuing a relationship with ABC.”
    
    
      Robert P. Munn, Chief Executive Officer of ABC, said, “This 
      acquisition was vital to our continued growth, and makes ABC, which we 
      are renaming to Cross Canyon Energy Corp., a substantial independent oil 
      and gas player in South Texas. Our team from CIT Energy understood our 
      needs and the value this acquisition would provide over the long-term. 
      The counsel and financing we received from CIT Energy played a key role 
      in seeing this deal through to completion.”
    
    
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      About ABC Funding, Inc.
    
    
      ABC Funding, Inc. focuses on the acquisition, exploitation, and 
      development of crude oil and natural gas properties. It has ownership 
      interests in oil and natural gas lease blocks in the Orcones Field 
      covering approximately 14,300 net acres located in Duval County, Texas. 
      The company was founded in 2004 and is headquartered in Houston, Texas.
    
    
      About CIT Energy
    
    
      CIT Energy is a leading provider of value added financing and advisory 
      products and services to high growth, entrepreneurial companies 
      throughout the energy sector. It covers the full value chain including: 
      Exploration & Production, Oilfield Services, Midstream, Power, Energy 
      Technologies and Metal & Mining. By combining extensive industry 
      experience, structuring expertise and underwriting capacity, CIT Energy 
      provides comprehensive solutions to our clients most critical strategic 
      and funding needs.
    
    
      About CIT
    
    
      CIT (NYSE: CIT) is a global commercial finance company that provides 
      financial products and advisory services to more than one million 
      customers in over 50 countries across 30 industries. A leader in middle 
      market financing, CIT has more than $70 billion in managed assets and 
      provides financial solutions for more than half of the Fortune 1000. A 
      member of the S&P 500 and Fortune 500, it maintains leading positions in 
      asset-based, cash flow and Small Business Administration lending, 
      equipment leasing, vendor financing and factoring. The CIT brand 
      platform, Capital Redefined, articulates its value proposition of 
      providing its customers with the relationship, intellectual and 
      financial capital to yield infinite possibilities. Founded in 1908, CIT 
      is celebrating its Centennial throughout 2008. www.cit.com