LSE Caplease,

CapLease, Inc. (NYSE:LSE) announced today that its Board of Directors has declared a cash dividend of $0.0775 per share of common stock and per limited partnership unit for the third quarter of 2013.

The Company’s Board of Directors also declared a cash dividend of $0.4231771 per share of 8.125% Series A Cumulative Redeemable Preferred Stock (NYSE: LSEPrA), a cash dividend of $0.4361979 per share of 8.375% Series B Cumulative Redeemable Preferred Stock (NYSE: LSEPrB), and a cash dividend of $0.3776042 per share of 7.25% Series C Cumulative Redeemable Preferred Stock (NYSE: LSEPrC), all for the third quarter of 2013. The preferred dividends represent amounts accrued on such stock through September 30, 2013. In the event the Company’s previously announced merger with American Realty Capital Properties, Inc. closes after September 30, 2013, the Company intends to pay a subsequent dividend on the preferred stock representing accrued but unpaid dividends on such stock up to the closing date of the merger.

Both the common and the preferred dividends are payable on October 15, 2013 to stockholders of record as of September 23, 2013.

About the Company:

CapLease, Inc. is a real estate investment trust, or REIT, that primarily owns and manages a diversified portfolio of single tenant commercial real estate properties subject to long-term leases to high credit quality tenants.

Investor Relations:ICRBrad Cohen, 212-217-6393bcohen@icrinc.com

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