Holding in the Company

CLA

24 September 2014

Capital Lease Aviation PLC

("Capital Lease Aviation" or "THE COMPANY")

Holding in the Company

Capital Lease Aviation PLC (AIM: CLA) announces that it has been informed by Avation PLC (Avation; AVAP) that Avation has agreed to acquire 4,037,966 ordinary shares in Capital Lease Aviation.

This will increase Avation's interest in the voting rights in CLA's issued share capital to 94.75%.

The consideration for the acquisition of 2,184,216 of the CLA shares acquired ("Swap Shares") is the allotment of 273,027 new ordinary shares in Avation, representing 0.52% of Avation's existing issued share capital (the "Consideration Shares"). The balance of 1,853,750 CLA shares was acquired through the market at a price of 20.5 pence in cash (the "Cash Purchase"). Settlement of the Cash Purchase will be on normal market terms.

The acquisition of the Swap Shares is conditional only on admission of the Consideration Shares to the Official List and to trading on the London Stock Exchange's main market for listed securities becoming effective ("Admission").

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