CapLease Announces Tax Treatment of 2008 Dividends

CapLease, Inc. (NYSE: LSE) today announced the income tax treatment of its 2008 common and preferred stock dividend payments.

Common Stock

Dividend Per

Share

Record Date Date of Payment

Taxable

Ordinary

Dividends

Nondividend

Distributions

(Return of Capital)

$0.20 12/31/07 1/15/08 $0.00 $0.20
$0.20 3/31/08 4/15/08 $0.00 $0.20
$0.20 6/30/08 7/15/08 $0.00 $0.20
$0.20 9/30/08 10/15/08 $0.00 $0.20
Totals $0.80 $0.00 $0.80
Percent 0.00% 100.00%

Series A Cumulative Redeemable Preferred Stock

Dividend Per

Share

Record Date Date of Payment

Taxable

Ordinary

Dividends

Nondividend

Distributions

(Return of Capital)

$0.5078125 3/31/08 4/15/08 $0.00 $0.5078125
$0.5078125 6/30/08 7/15/08 $0.00 $0.5078125
$0.5078125 9/30/08 10/15/08 $0.00 $0.5078125
$0.5078125 12/31/08 1/15/09 $0.00 $0.5078125
Totals $2.0312500 $0.00 $2.0312500
Percent 0.00% 100.00%

No portion of CapLease’s 2008 dividends consisted of excess inclusion income subject to the specialized tax reporting and other rules applicable to such income.

About the Company:

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
bcohen@icrinc.com

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