FLY Leasing Declares Third Quarter Dividend of $0.22 Per Share

DUBLIN, Oct. 15, 2012 /PRNewswire/ -- FLY Leasing Limited (NYSE: FLY) ("FLY"), a leading global lessor of modern commercial jet aircraft, today announced that it has declared a quarterly cash dividend of $0.22 per common share for the third quarter of 2012. The dividend will be paid on November 20, 2012 to shareholders of record on October 30, 2012.

FLY has declared 20 consecutive quarterly cash dividends since it went public on the NYSE in 2007.

About FLY
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world's leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com

Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY's future business and financial performance. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.

Contact:

Matt Dallas
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com 

SOURCE FLY Leasing Limited



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