CapLease to Report Second Quarter 2008 Earnings on August 6, 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 Wednesday, August 6, 2008 at 11:00 A.M. Eastern time to discuss its financial results for the second 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 second quarter of 2008 will be issued before the market opens on Wednesday, August 6, 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 (888) 600-4885 or for international participants (913) 312-0374. A replay of the conference call will be available after 2:00 P.M. Eastern time on Wednesday, August 6, 2008 until midnight Eastern time, Wednesday, August 20, 2008 and can be accessed by dialing (888) 203-1112 or for international participants (719) 457-0820 and entering the passcode 5411963.

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:

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

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