CIT COMMERCIAL SERVICES PROVIDES $50.5 MILLION TO APPAREL MANUFACTURER BERNARD CHAUS

New York, October 7, 2002 - CIT Commercial Services, a unit of CIT Group Inc. (NYSE:CIT), today announced that Bernard Chaus, Inc. (OTC Bulletin Board: CHBD.OB) has signed a three-year contract for a $40 million revolving line of credit and a $10.5 million term loan.

"We are pleased that Bernard Chaus has chosen CIT Commercial Services to provide the company with financing that will play a significant role in its growth," said John F. Daly, President of CIT Commercial Services. "This transaction reinforces our long-standing commitment to supporting the apparel industry. It is a privilege to add Bernard Chaus to our family of clients."

Josephine Chaus, Chairwoman and Chief Executive Officer, commented, "CIT Commercial Services has an excellent reputation as being an integral link between manufacturers and retailers. This new facility allows us the opportunity to capitalize on the many growth prospects available for Bernard Chaus. We look forward to a long relationship with CIT."

CIT Commercial Services provides a full range of customized credit protection, lending and outsourced services, as well as revolving lines of credit and term loans. These services help companies improve cash flow, increase sales, reduce operating expenses and eliminate customer credit losses.