Re Contract

October 31, 2005

                 CIT places $400 million order for Iae's v2500                 

CIT Group Inc, a leading provider of commercial and consumer finance solutions,
has today (October 31) selected the V2500 to power up to 24 Airbus A320 family
aircraft. The order is made up of 12 firm and 12 options and, if all the
options are realised, the deal will be worth more than $400 million.

IAE President Mark King said: "CIT's expertise lies in its ability to
accurately forecast demand and provide leading products to meet the needs of
its customers, so this selection should be seen as a further endorsement of the
market-leading qualities of the V2500.

"Our engine's leading fuel burn advantage, world-class reliability and IAE's
program of continuously improving the V2500, has ensured it remains the engine
of choice for lessors and operators of the Airbus A320 family. We're delighted
by CIT's decision."

CIT Aerospace President Jeffrey Knittel said: "Market demand for the Airbus
A320 family remains consistently high and the V2500 has a strong in-service
performance throughout our worldwide customer base. This additional investment
in IAE allows us to fully service the needs of our customers."

CIT already has 33 V2500-powered aircraft in service with a further 10 on firm
order.

The 22,000-33,000lb of thrust V2500-A5 is available in seven different thrust
settings to power the Airbus A319, A320 and A321 family of aircraft as well as
the A319 Corporate Jet.

IAE is a multinational aero engine consortium whose shareholders comprise Pratt
& Whitney (NYSE: UTX), Rolls-Royce (RR.L.), the Japanese Aero Engines
Corporation and MTU Aero Engines. More than 1,050 V2500-powered aircraft have
been delivered and the worldwide fleet has accumulated over 33 million flying
hours.

For further information, please contact:

Neil Williams, Director, Communications
International Aero Engines
Tel: [phone] Email: [e-mail]
Fax: [phone] Website: www.iaenews.com

                                                                    Information

IAE International Aero Engines AG 400 Main Street, East Hartford, CT 06108 USA 

       Telephone: [phone] Fax: [phone] www.I-A-E.com       

 IAE International Aero Engines AG is incorporated in Switzerland with limited 
   liability and has its registered offices at Stampfenbachstrasse 73, 8035    
                              Zurich, Switzerland