Lenovo joins hand with CIT

DQC News Bureau

Lenovo and CIT Group has signed a letter of intent to establish Lenovo
Financial Services (LFS). LFS is a new program that will provide a broad range
of vendor financing solutions for Lenovo's business partners and customers who
utilize Lenovo's extensive range of technology products and services.

“The creation of the Lenovo Financial Services program provides us the
opportunity to offer financial services alternatives to our customers,” said
Rory Read, President and COO, Lenovo. “This announcement demonstrates our
commitment to providing our customers the best vendor financing experience
possible, and we believe that the Lenovo Financial Services Program will allow
us to focus on financing programs tailored to meet the specific needs of our
customers,” he added.

Ron Arrington, President-Vendor Finance, CIT, said, “We are very excited to
announce our relationship with Lenovo. The establishment of LFS demonstrates our
position as a leading provider of vendor financing solutions. It reflects CIT's
ability to provide commercial financing solutions for customers of the leading
technology companies around the world.” The LFS program will offer leasing and
financing options, as well as tools and online capabilities with the operational
support of CIT. It will help Lenovo customers who want to maximize their
purchase power by obtaining the technology they need today, protecting against
technology obsolescence, and preserving their capital for other uses.