Press Release

Care Investment Trust Inc. Forms Joint Venture With Senior Management Concepts, LLC to Acquire $61.0 Million Portfolio of Assisted Living Facilities

Company Release - 1/7/2008 7:00 AM ET

NEW YORK, Jan. 7 /PRNewswire-FirstCall/ -- Care Investment Trust Inc. (NYSE: CRE) ("Care" or "Company"), today announced that it has formed a joint venture with an affiliate of Senior Management Concepts, LLC to acquire four independent and assisted living facilities located in Utah. The total capitalization of the joint venture is $61.0 million. Care paid $6.8 million in exchange for 100 percent of the preferred equity interests and 10 percent of the common equity interests of the joint venture. The transaction closed on December 31, 2007. Affiliates of Senior Management Concepts, LLC will lease the facilities from the joint venture for 15 years.

F. Scott Kellman, President and Chief Executive Officer, said, "This investment advances our strategy of increasing Care's ownership of high quality healthcare facilities by partnering with premier operators such as Senior Management Concepts. We hope this transaction marks the beginning of a larger partnership with Senior Management Concepts, which will bring both parties attractive investment opportunities."

Larry N. Blake and Vaughn L. Pulsipher, managing members of Senior Management Concepts LLC stated, "Care Investment Trust Inc. is the kind of partner that we like to associate with. They are a professional group who understand our business. We look forward to a continuing relationship with them as we seek out further quality properties to acquire and improve."

Care funded the investment through cash on hand and a draw from the Company's warehouse facility. The entities created to hold the real estate investments are now wholly-owned by the joint venture, and currently carry $54.2 million in asset-specific mortgage debt guaranteed by a government-sponsored agency. These mortgages closed simultaneous with the Care investment, will mature in 10 years, and bear a weighted average interest rate of 6.65 percent.

    Transaction Highlights:

    -- Care will receive a preferred return of 15.0 percent on its invested
       capital and an additional common equity return equal to 10.0 percent of
       projected free cash flow after payment of debt service and the
       preferred return.
    -- Care's preferred equity interest is not subject to redemption for a
       period of two years.  Care retains an option to put its preferred
       equity interest to its joint venture partner at par any time after the
       eighth anniversary of the closing.
    -- Senior Management Concepts LLC has operated three of the four
       independent and assisted living facilities for four years, providing
       for a transition of ownership that will be transparent to daily
       operations.  The facilities will continue to be leased from the joint
       venture and operated by affiliates of Senior Management Concepts, LLC
       for a 15 year term.
    -- Care partners with Senior Management Concepts, LLC, which has extensive
       experience and success operating high-quality independent living,
       assisted living, and Alzheimer's care facilities in Utah, Nevada, and
       Washington.

The portfolio, leased to affiliates of Senior Management Concepts, LLC, contains approximately 233 independent living units and 159 assisted living units. The properties were constructed in the last 25 years, and two of the facilities were built in the last 10 years. The properties are stabilized, are well-positioned for continued success within their communities and have experienced aggregate occupancy levels in excess of 93 percent over the last 2 years.

Conference Call Details

On Wednesday, January 9, 2008, at 11:00 a.m. Eastern Time, the Company will host a conference call to discuss its recently announced transaction with Cambridge Holdings Incorporated. Management will also address questions concerning this transaction. The call may be accessed live by dialing 800-218-0204 or by visiting the Company's website at http://www.carereit.com.

Investors may access a replay by dialing 800-405-2236, passcode 11105839, which will be available through January 16, 2008. The webcast replay will also be archived in the "Investor Relations" section of the Company's website.

About Care Investment Trust

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

About Senior Management Concepts

Senior Management Concepts, LLC and its principals Larry N. Blake and Vaughn L. Pulsipher own and operate 14 independent living, assisted living, and Alzheimer's care projects located in Nevada, Utah and Washington State.

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, changes in Care's investment focus, funding market, competitive and/or regulatory factors, among others, affecting Care Investment Trust's businesses or the management or results of operations of the acquired properties 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 Registration Statement on Form S-11 relating to its initial public offering and its Quarterly Report of Form 10-Q for the period ended September 30, 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

SOURCE Care Investment Trust Inc.

Contact: Robert O'Neill, Chief Financial Officer of Care Investment Trust Inc., +1-973-740-5115, robert.oneill@carereit.com; or Leslie Loyet, Analysts-Investors of Financial Relations Board, +1-312-640-6672, lloyet@frbir.com, for Care Investment Trust Inc.