Press Release

Care Investment Trust Inc. Announces Second Quarter 2008 Results

2008 Second Quarter Highlights

- Reported FFO and AFFO per basic and diluted share of $0.15 and $0.12, respectively.

- Invested an additional $100.8 million during the second quarter.

- Received a $27.2 million prepayment of a mortgage investment.

- Declared a 2008 second quarter dividend of $0.17 per share.

Company Release - 8/12/2008 7:00 AM ET

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 reported financial results for the second quarter ended June 30, 2008. Net income totaled $0.7 million, or $0.03 per basic and diluted share. Net income was impacted by a non-cash depreciation charge from the Company's real estate investments of $2.4 million.

Funds from Operations (FFO) for the second quarter of 2008 were $3.0 million, or $0.15 per basic and diluted share. Adjusted Funds from Operation (AFFO) amounted to $2.4 million, or $0.12 per basic and diluted share. FFO is the result of adding back to net income our share of depreciation and amortization of real estate related to the Company's equity in the Cambridge properties and Care's acquisition of the Bickford properties. AFFO reflects additional adjustments for other non-cash income and expense items such as stock-based compensation, the write off of a loan premium associated with the early repayment of a loan, and the unrealized gain or loss on the revaluation of partnership units in relation to our investment in the Cambridge properties. These adjustments are detailed on the Reconciliation of Non-GAAP Financial Measures attached hereto.

F. Scott Kellman, Chief Executive Officer, stated, "Care enjoyed a very strong second quarter. Investment activity added over $0.16 per share to our annual AFFO run rate. We also continued to experience prepayments in our mortgage portfolio, which provides additional liquidity to support our future growth."

Portfolio Activity

Investment in Net Leased Property

On June 26, 2008, Care acquired 12 senior living properties from Bickford Senior Living Group, LLC for $100.8 million. Concurrent with the purchase, Care leased these properties to an affiliate of the seller under a triple-net lease for 15 years. As the transaction closed on June 26, 2008, the transaction did not have a material contribution to the results of operations for the three and six months ended June 30, 2008.

Loan Portfolio

Net investments in loans were $216.0 million as of June 30, 2008, all of which were floating rate. The weighted average spread on the portfolio at June 30, 2008 was 4.46 percent over one-month LIBOR and the average maturity of the portfolio was approximately three years. The effective yield on the portfolio was 6.92 percent for the quarter ended June 30, 2008.

Operating Activities

The Company generated total revenues of $3.8 million during the 2008 second quarter which included interest income on investments from loans of $3.5 million, rental revenue of $0.1 million and other income of $0.2 million. Other income resulted primarily from interest earned on cash balances.

The Company incurred $1.8 million in operating expenses in the three months ended June 30, 2008, which included $1.3 million in management fees and $0.5 million in marketing, general and administrative expenses, which includes a reversal of stock-based compensation expense of $0.4 million.

Care's net loss from investments in partially-owned entities amounted to $1.1 million for the three months ended June 30, 2008 and consisted of a $1.4 million loss, after depreciation charges of $2.3 million, related to the Company's investment in the Cambridge properties, offset by $0.3 million in equity income from the Company's investment in Senior Management Concepts.

Interest expense on the $38.3 million outstanding under the Company's warehouse line of credit amounted to $0.5 million for the second quarter of 2008. The effective interest rate for the quarter on our borrowings under the warehouse line was 3.42 percent.

Liquidity and Funding

At June 30, 2008, Care had $15.4 million in cash and cash equivalents. On April 17, 2008, a borrower prepaid its current loan obligation of $27.2 million, along with a $0.3 million prepayment fee, in accordance with the terms of the underlying loan agreement. A portion of the proceeds from the loan prepayment was used to fund the acquisition of the Bickford properties. The Company plans to redeploy the balance of the funds into additional investments in healthcare-related real estate. Currently, Care has $18.3 million in cash and cash equivalents.

Dividends

The Company's Board of Directors declared a dividend of $0.17 per share of common stock for the second quarter 2008. The dividend is payable on September 3, 2008 to common shareholders of record on August 20, 2008.

Conference Call Details

The Company will host a conference call on Tuesday, August 12, 2008, at 11:00 a.m. Eastern Time to discuss the second quarter results. The call may be accessed live by dialing 800-240-7305 or by visiting the Company's website at http://www.carereit.com.

Investors may access a replay by dialing 800-405-2236, passcode 11117999, which will be available through August 19, 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 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.

Funds from Operations and Adjusted Funds from Operations

Funds from Operations, or FFO, which is a non-GAAP financial measure, is a widely recognized measure of REIT performance. The Company computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to FFO reported by other REITs that do not compute FFO in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than we do.

NAREIT currently defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from debt restructuring and sales of properties, plus real estate related depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.

Adjusted Funds from Operations

Adjusted Funds from Operations, or AFFO, is a non-GAAP financial measure. The Company computes AFFO in accordance with our management agreement's definition of FFO and as such it may not be comparable to AFFO reported by other REITs that do not compute AFFO on the same basis. The Company's management agreement defines FFO, for purposes of the agreement, to mean net income (loss) (computed in accordance with GAAP), excluding gains (losses) from debt restructuring and gains (losses) from sales of property, plus depreciation and amortization on real estate assets and non-cash equity compensation expense, and after adjustments for unconsolidated partnerships and joint ventures; provided, that the foregoing calculation of Funds From Operations shall be adjusted to exclude one-time events pursuant to changes in GAAP and may be adjusted to exclude other non-cash income or expense items after discussion between the Manager and the independent directors, and approval by the majority of the independent directors in the case of non-cash charges.

The Company believes that FFO and AFFO are helpful to investors as measures of the performance of a REIT because, along with cash flow from operating activities, financing activities and investing activities, FFO and AFFO provide investors with an indication of our ability to incur and service debt, to make investments and to fund other cash needs. FFO, as defined in our agreement with our Manager, also provides the basis for the computation of the amount of any Management Incentive Fee earned by our Manager.

Neither FFO nor AFFO represent cash generated from operating activities in accordance with GAAP and they should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of our financial performance or cash flow from operating activities (determined in accordance with GAAP), as a measure of our liquidity, nor are they indicative of funds available to fund our cash needs, including our ability to make cash distributions.

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

                         -Financial Tables to Follow-



                 Care Investment Trust Inc. and Subsidiaries
          Condensed Consolidated Statement of Operations (Unaudited)
          (dollars in thousands -- except share and per share data)

                                                               For the Period
                                                                June 22, 2007
                                      Three           Six     (Commencement of
                                  Months Ended    Months Ended  Operations) to
                                     June 30,       June 30,       June 30,
                                       2008           2008           2007
    Revenues
      Rental revenue                   $115            $115            $-
      Income from investments in
       loans                          3,468           8,155           573
      Other income                      208             356             3
    Total Revenues                    3,791           8,626           576
    Expenses
      Management fees to related
       party                          1,273           2,567            56
      Marketing, general and
       administrative, including
       stock-based compensation
       expense (reversal of expense)
       of ($424); ($236); and
       $9,134, respectively)            497           1,543         9,417
      Depreciation and amortization      46              46             -
      Loss on loan prepayment             -             317             -
    Total Expenses                    1,816           4,473         9,473
    Income (loss) from operations     1,975           4,153        (8,897)

    Loss from investments in
     partially-owned entities        (1,090)         (2,198)            -
    Unrealized gain on derivative
     instruments                        240              45             -
    Interest expense                   (466)           (882)            -
    Net income (loss)                  $659          $1,118       $(8,897)
    Income (loss) per share of
     common stock
      Net income (loss), basic and
       diluted                        $0.03           $0.05        $(0.43)
      Basic and diluted weighted
       average common shares
       outstanding               20,880,990      20,877,998    20,864,040



                 Care Investment Trust Inc. and Subsidiaries
          Reconciliation of Non-GAAP Financial Measures (Unaudited)
           (dollars in thousands, except share and per share data)

                                                    For the three months ended
                                                           June 30, 2008
                                                         FFO           AFFO

    Net income                                          $659           $659
    Add:
      Proportionate share of depreciation and
       amortization of real property related to equity
       in loss on partially-owned entities             2,335          2,335
      Depreciation and amortization on real estate        43             43
      Stock-based compensation                             -           (424)
      Unrealized gain on derivatives; revaluation of
       obligation to issue partnership units               -           (195)
    Funds From Operations and Adjusted Funds From
     Operations                                       $3,037         $2,418
    FFO and Adjusted FFO per share basic and diluted   $0.15          $0.12
    Weighted average shares outstanding - basic
     and diluted                                  20,880,990     20,880,990



                                                     For the six months ended
                                                          June 30, 2008
                                                        FFO            AFFO

    Net income                                        $1,118         $1,118
    Add:
      Proportionate share of depreciation and
       amortization of real property related to equity
       in loss on partially-owned entities             4,656          4,656
      Depreciation and amortization on real estate        43             43
      Loss on prepayment of mortgage loan                  -            317
      Stock-based compensation                             -           (236)
      Unrealized gain on derivatives; revaluation of
       obligation to issue partnership units               -            (22)
    Funds From Operations and Adjusted Funds From
     Operations                                       $5,817         $5,876
    FFO and Adjusted FFO per share basic and diluted   $0.28          $0.28
    Weighted average shares outstanding - basic
     and diluted                                  20,877,998     20,877,998

SOURCE Care Investment Trust Inc.

Contact: Frank Plenskofski, Chief Financial Officer of Care Investment Trust Inc., +1-212-771-9318, frank.plenskofski@carereit.com; or Analysts|Investors, Leslie Loyet of Financial Relations Board, +1-312-640-6672, lloyet@frbir.com, for Care Investment Trust Inc.