Press Release

Care Investment Trust Announces Share Repurchase Program

Company Release - 10/22/2008 7:00 AM ET

NEW YORK, Oct. 22 /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 announced that its Board of Directors has authorized the purchase, from time to time, of up to 2 million shares of its Common Stock. Repurchases may be made in the open market, through a broker or through privately negotiated transactions, subject to market conditions, applicable legal requirements and other factors. Care has no obligation to repurchase shares under the repurchase program and the timing, actual number and price of shares to be purchased will depend on the performance of Care's stock price, general market conditions, and various other factors within the discretion of management.

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.

For more information on the company, please visit the company's website at

                           http://www.carereit.com

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.