FLY Leasing Declares First Quarter Dividend of $0.22 Per Share

        FLY Leasing Declares First Quarter Dividend of $0.22 Per Share

PR Newswire

DUBLIN, April 15, 2013

DUBLIN, April 15, 2013 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY)
("FLY"), a leading global lessor of modern commercial jet aircraft, today
announced that it has declared a quarterly cash dividend of $0.22 per common
share for the first quarter of 2013. The dividend will be paid on May 20, 2013
to shareholders of record on April 30, 2013.

FLY has declared 22 consecutive quarterly cash dividends since it went public
on the NYSE in 2007.

About FLY
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet
aircraft under multi-year operating lease contracts to a diverse group of
airlines throughout the world. FLY is managed and serviced by BBAM LP, one of
the world's leading aircraft lease managers with more than 20 years of
experience. For more information about FLY, please visit our website at
www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward - looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words such as "expects,"
"intends," "anticipates," "plans," "believes," "seeks," "estimates," "will,"
or words of similar meaning and include, but are not limited to, statements
regarding the outlook for FLY's future business and financial performance.
Forward-looking statements are based on management's current expectations and
assumptions, which are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Actual outcomes and results may
differ materially due to global political, economic, business, competitive,
market, regulatory and other factors and risks. FLY expressly disclaims any
obligation to update or revise any of these forward-looking statements,
whether because of future events, new information, a change in its views or
expectations, or otherwise.

Contact:
Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com

SOURCE FLY Leasing Limited

Website: http://www.flyleasing.com