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CapLease Announces Successful Completion of Merger with ARCP and Interim Fourth Quarter Dividend Payment Amounts

  CapLease Announces Successful Completion of Merger with ARCP and Interim
  Fourth Quarter Dividend Payment Amounts

Business Wire

NEW YORK -- November 5, 2013

CapLease, Inc. (NYSE:LSE) (the “Company”) announced today the successful
completion of its previously announced merger with an affiliate of American
Realty Capital Properties, Inc. After the close of market on November 5, 2013,
the Company’s common stock and preferred stock have ceased to trade on the New
York Stock Exchange. The merger was previously approved by approximately 99%
of the votes cast by the Company’s common stockholders at a special meeting
held on September 10, 2013.

As previously announced, the Company will pay pro-rated cash dividends for the
fourth quarter. The dividends are payable to holders of record on November 4,
2013, of the Company’s common stock, limited partnership units, 8.125% Series
A Cumulative Redeemable Preferred Stock (NYSE: LSEPrA), 8.375% Series B
Cumulative Redeemable Preferred Stock (NYSE: LSEPrB), and 7.25% Series C
Cumulative Redeemable Preferred Stock (NYSE: LSEPrC).

The pro-rated cash dividends equate to $0.031 per share or unit of the
Company’s common stock and limited partnership units, $0.197483 per share of
the Company’s 8.125% Series A Cumulative Redeemable Preferred Stock, $0.203559
per share of the Company’s 8.375% Series B Cumulative Redeemable Preferred
Stock, and $0.176215 per share of the Company’s 7.25% Series C Cumulative
Redeemable Preferred Stock. The preferred dividends represent all amounts
accrued on the Company’s preferred stock through, but excluding, the closing
date of the merger.

The pro-rated dividends on the Company’s preferred stock will be paid as
promptly as practicable in connection with the payment of the merger
consideration. The pro-rated dividends on the Company’s common stock will be
paid on or about November 18, 2013.

In connection with the merger, Hunton & Williams LLP acted as legal advisor to
the Company and Wells Fargo Securities, LLC and Houlihan Lokey Financial
Advisors, Inc. provided financial advisory services to the Company. Proskauer
Rose LLP acted as legal advisor to American Realty Capital Properties, Inc.

About the Company:

CapLease, Inc. is a real estate investment trust, or “REIT,” that primarily
owns and manages a diversified portfolio of single-tenant commercial real
estate properties subject to long-term leases to high-credit-quality tenants.

Contact:

Investor Relations
Brad Cohen, 212-217-6393
bcohen@icrinc.com
 
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