Refinancing

LSE: CLA

14 DECEMBER 2010

CAPITAL LEASE AVIATION PLC

("CLA" or "the Company")

REFINANCING

The Board of CLA is pleased to announce that the Company has been successful in refinancing its mezzanine finance facilities.

In respect to the consideration that was initially used to finance the purchase of one Airbus A320 and two Airbus A321 aircraft in June 2008, $4.8m was high cost junior mezzanine debt. Since acquiring these aircraft, the Company has progressively repaid debt with only $2.0m of the mezzanine portion remaining.

The Company is now in a position to refinance this residual balance of $2.0m at a lower interest rate of 5.23% compared with the mezzanine cost which was previously 14% per annum.

Key terms of new refinance facility:

Amount: USD 2,000,000

Term: Fully amortizing over 36 months

Security: A Mortgage over three aircraft in the Group's Australian subsidiary

Interest cost: 5.23%

Funder: A subsidiary of a major UK bank

This refinance will reduce finance costs to the Company by approximately $176,000 in year one, $230,000 in year two and $266,000 in year three of the refinance term.

--ENDS-

Enquiries:

Capital Lease Aviation Plc 07783 942 553Jeff Chatfield, Executive Chairman

Nominated AdviserJames Joyce, W H Ireland Limited 0207 220 1666

Company Stockbroker

W H Ireland Limited 0207 220 1690

Share Register

Computershare Investor Services Plc 0870 702 0003

Websitewww.capitalleaseaviation.com