Air Lease Corporation Commences Registered Exchange Offer for Its 4.500% Senior Unsecured Notes due 2016

  Air Lease Corporation Commences Registered Exchange Offer for Its 4.500%
  Senior Unsecured Notes due 2016

Business Wire

LOS ANGELES -- December 11, 2012

Air Lease Corporation (NYSE: AL) (the “Company”) today announced the
commencement of an offer to exchange up to $500,000,000 aggregate principal
amount of its outstanding 4.500% Senior Notes due 2016 (the “Old Notes”) for
the same principal amount of 4.500% Senior Notes due 2016 (the “New Notes”
and, together with the Old Notes, the “Notes”), which have been registered
under the Securities Act of 1933, as amended (the “Securities Act”). The Old
Notes were issued on September 26, 2012 and October 3, 2012 in two separate
private offerings exempt from registration under the Securities Act, in the
amount of $450,000,000 aggregate principal amount of Old Notes and $50,000,000
aggregate principal amount of Old Notes, respectively. The terms of the New
Notes are substantially identical in all material respects to the terms of the
Old Notes, except that the New Notes will be registered under the Securities
Act and will not contain restrictions on transfer, registration rights or
provisions for additional interest. Old Notes that are not exchanged will
continue to be subject to the restrictions on transfer set forth in the Old
Notes and the indenture governing the Notes, and the Company will generally
have no further obligation to provide for the registration of the Old Notes
under the Securities Act.

The exchange offer is being made to satisfy the Company’s obligations under
the registration rights agreements entered into in connection with the
issuance of the Old Notes, and it does not represent a new financing
transaction.

The exchange offer will expire at 5:00p.m. (EST) on January10, 2013, unless
extended by the Company. Tenders of Old Notes must be made before the exchange
offer expires and may be withdrawn any time prior to the expiration of the
exchange offer.

The terms and conditions of the exchange offer are set forth in a prospectus
dated December11, 2012. Copies of the prospectus and other exchange offer
documents may be obtained from Deutsche Bank Trust Company Americas, which is
serving as the exchange agent for the exchange offer, using the following
contact information:

                  DB Services Americas, Inc.
                                    US CTAS Operations
                                    5022 Gate Parkway, Suite 200
                                    Jacksonville, FL 32256
                                    Email: db.reorg@db.com
                                    Telephone: (800) 735-7777, Option #1
                                    

This press release is for informational purposes only and is neither an offer
to buy nor a solicitation to sell any Notes. The exchange offer is being made
only by the prospectus dated December11, 2012, and only to such persons and
in such jurisdictions as is permitted under applicable law.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements
relating to the expiration of the exchange offer. Such statements are based on
current expectations and projections about our future results, prospects and
opportunities and are not guarantees of future performance. Such statements
will not be updated unless required by law. Actual results and performance may
differ materially from those expressed or forecasted in forward-looking
statements due to a number of factors, including those discussed in our
filings with the Securities and Exchange Commission.

Contact:

Air Lease Corporation
Investors:
Ryan McKenna, 310-553-0555
Assistant Vice President, Strategic Planning and Investor Relations
rmckenna@airleasecorp.com
or
Media:
Laura St. John, 310-553-0555
Media and Investor Relations Coordinator
lstjohn@airleasecorp.com
 
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