Lease Investment Flight Trust Modifies Consent Solicitation

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NEW YORK--(BUSINESS WIRE)-- Lease Investment Flight Trust (“LIFT”) announced today modifications to certain of the amendments (the “Proposed Amendments”) proposed to the indenture governing its Subclass A-l Notes, Subclass A-2 Notes, Subclass A-3 Notes, Subclass B-1 Notes, Subclass B-2 Notes, Subclass C-1 Notes, Subclass C-2 Notes, Subclass D-1 Notes and Subclass D-2 Notes (collectively, the “Notes”). The changes to the Proposed Amendments described in the Consent Solicitation Statement, dated September 15, 2011 (the “Consent Solicitation Statement”), are set forth in a Supplemental Consent Solicitation Statement dated November 3, 2011 (the “Supplement”) a copy of which has been posted on LIFT’s website http://www.liftreports.com. Further, a complete set of Consent Solicitation materials (including the Supplement, the Consent Solicitation Statement and the Letter of Consent) is available from Global Restructuring Services, Inc., as information agent, the contact details of which are set out below.

The record date for the Consent Solicitation is 5:00 p.m., New York City time, on September 14, 2011. On October 17, 2011, LIFT extended the expiration date for the Consent Solicitation until 5:00 p.m. New York City time on November 16, 2011.

Consents previously provided by delivering a Letter of Consent to Global Restructuring Services, Inc., as tabulation agent, will remain valid unless withdrawn by 5:00 p.m., New York City time on November 16, 2011. Any additional consents must be submitted to Global Restructuring Services, Inc., as tabulation agent, no later than 5:00 p.m., New York City time, on November 16, 2011. Holders who have previously delivered their Letters of Consent pursuant to the Consent Solicitation are not required to take any further action unless they choose to withdraw their consents. The Proposed Amendments described in the Consent Solicitation Statement, as amended by the Supplement, require the consents of the holders of at least a majority of the Outstanding Principal Balance of the Notes, voting as a single class. No fees will be paid by LIFT to the Holders of any of the Notes in connection with the Consent Solicitation.

An institution that controls the beneficial interests in approximately 20% of the outstanding Notes and which has not yet provided its direction letter to consent has indicated to LIFT and it’s advisors that it intends to deliver its direction letter to consent based on the modifications which have been made to the Proposed Amendments. With the consents that have been received as of November 2, 2011, assuming no material revocation of consents by 5:00 p.m., November 16, 2011, LIFT would have consents in excess of 50% and thereby sufficient to implement the proposed amendments.

Any questions concerning the terms of the Consent Solicitation may be directed to Jefferies & Company, Inc. as solicitation agent.

The Solicitation Agent for the Consent Solicitation is:

Jefferies & Company, Inc.
520 Madison Avenue
New York, NY 10022

Call direct: +1-203-363-8285
Fax: +1-203-724-3545
Attn: Mr. Evan Wallach, Managing Director
Email: ewallach@jefferies.com

Call direct: +1-203-363-8286
Fax: +1-203-724-1924
Attn: Mr. James Palen, Managing Director
Email: jpalen@jefferies.com

The Tabulation Agent and the Information Agent for the Consent Solicitation is:

Global Restructuring Services, Inc.
230 East 48th Street
New York, NY 10017
United States of America

Call direct: +1-212-644-1772
Attn: Mr. John Baxter
Fax: +1-212-937-3653
Email: jbaxter@grserve.com

CONTACT:

Jefferies & Company, Inc.
Mr. Evan Wallach, +1-203-363-8285
Managing Director
ewallach@jefferies.com
or
Mr. James Palen, +1-203-363-8286
Managing Director
jpalen@jefferies.com
or
Global Restructuring Services, Inc.
Mr. John Baxter, +1-212-644-1772
jbaxter@grserve.com