Capital Lease Funding To Report First Quarter 2004 Earnings On May 13, 2004.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 28, 2004

Capital Lease Funding, Inc. (NYSE: LSE), a net lease REIT, today announced that it will release first quarter 2004 results after the market close on Wednesday, May 13, 2004, to be followed by a conference call at 5:00 PM (Eastern). Hosting the call will be Paul H. McDowell, Chief Executive Officer, and Shawn P. Seale, Senior Vice President and Chief Financial Officer.

Interested parties can listen via webcast on Capital Lease's website at www.caplease.com under the Investor Relations section.

The webcast is also being distributed over CCBN's Investor Distribution Network. Individual investors can access the webcast at www.fulldisclosure.com. Institutional investors can access the webcast via the password-protected event management site www.streetevents.com.

The conference call can also be accessed by dialing 1-877-715-5317 or for international participants 1-973-582-2751. A replay will be available approximately one hour after the call by dialing 1-877-519-4471 or for international participants 1-973-341-3080 and entering passcode 4713809. The replay will be available until May 23, 2004.

About the Company

Capital Lease Funding, Inc. (NYSE: LSE) is a net lease REIT focused on financing and investing in commercial real estate that is net leased primarily to single tenants with investment grade or near investment grade credit ratings. Typical tenants include large corporations, and governmental and not for profit entities. Since 1996, the Company has originated, structured and closed approximately $2.5 billion in net lease transactions, involving more than 500 properties with more than 75 credit tenants.