CapLease to Report First Quarter 2008 Earnings on May 9, 2008

CapLease, Inc. (NYSE: LSE), a real estate investment trust (REIT) focused on single-tenant commercial real estate investments, today announced that it will host a conference call on Friday, May 9, 2008 at 11:00 A.M. Eastern time to discuss its financial results for the first quarter of 2008. Hosting the call will be Mr. Paul H. McDowell, Chairman and Chief Executive Officer, and Mr. Shawn P. Seale, Senior Vice President and Chief Financial Officer. A press release with financial results for the first quarter of 2008 will be issued before the market opens on Friday, May 9, 2008.

The conference call will be webcast live over the Internet from the Companys Web site at www.caplease.com under the Investor Relations section.

The conference call can also be accessed by dialing (800) 762-9441 or for international participants (480) 629-9041. A replay of the conference call will be available after 2:00 P.M. Eastern time on Friday, May 9, 2008 until midnight Eastern time, Friday, May 23, 2008 and can be accessed by dialing (800) 406-7325 or for international participants (303) 590-3030 and entering the passcode 3875994.

About CapLease, Inc.

CapLease, Inc. is a real estate investment trust, or REIT, that invests primarily in single tenant commercial real estate assets subject to long-term leases to high credit quality tenants.

Contacts:

Investor Relations/Media Contact:
ICR, Inc.
Brad Cohen (Investor Relations), 212-217-6393
bcohen@icrinc.com
or
Liz Brady (Media), 203-682-8230
liz.brady@icrinc.com

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