CapLease to Host First Quarter Earnings Conference Call and Webcast

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 and webcast on Thursday, May 7, 2009 at 10:00 A.M. Eastern time to discuss its financial results for the first quarter of 2009. 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 2009 will be issued before the market opens on Thursday, May 7, 2009.

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

The conference call can also be accessed by dialing (800) 839-7875 or for international participants (913) 312-0961. A replay of the conference call will be available after 1:00 P.M. Eastern time on Thursday, May 7, 2009 until midnight Eastern time, Thursday, May 21, 2009 and can be accessed by dialing (888) 203-1112 or for international participants (719) 457-0820 and entering the passcode 6759945.

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:

CapLease, Inc.
Brad Cohen, 212-217-6393 (Investor Relations)
bcohen@icrinc.com

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