SHANNON, Ireland, Aug. 6, 2008 (PRIME NEWSWIRE) -- Genesis Lease Limited (NYSE:GLS) announced that its Board of Directors today declared a dividend of $0.47 per outstanding Common Share for the second quarter of 2008. The dividend is payable September 16, 2008 to shareholders of record as of the close of business on August 20, 2008.

About Genesis Lease Limited

Genesis Lease Limited is a global commercial aircraft leasing company that is headquartered in Shannon, Ireland. Genesis acquires and leases modern, operationally efficient passenger and cargo jet aircraft to a diverse group of airlines throughout the world. Genesis leverages the worldwide platform of GE Commercial Aviation Services Limited, or GECAS, to service its portfolio of leases, allowing management to focus on executing its growth strategy.

The Genesis Lease Limited logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4842

Genesis's common shares, in the form of American Depositary Shares, are listed on the New York Stock Exchange under the symbol "GLS."

GLS-F

CONTACT: Genesis Lease Limited
         Alan Jenkins, Chief Financial Officer
         +353-61-233-300
         alan.jenkins@genesislease.com
         Limerick, Ireland
         KCSA Worldwide
         Jeffrey Goldberger
         +1-212-896-1249
         jgoldberger@kcsa.com
         New York, NY 10017