WLFCP Willis Lease Finance Corp. - Series A Preferred Shares (MM)

Willis Lease Finance Corporation (Nasdaq:WLFC), a leading lessor of commercial jet engines, today announced that it has paid the first dividend to its new preferred shareholders. The initial dividend payment on the 9% Series A Cumulative Redeemable Preferred Stock (Nasdaq:WLFCP) was $0.0975 per share, paid on March 15th to shareholders of record March 6, 2006. The normal dividend is $0.075 per share paid on the 15th day of each month. The initial dividend was larger to compensate preferred shareholders for the period from February 7, the date the preferred offering closed, to March 15, 2006. Dividend checks were mailed to shareholders who hold physical certificates. Shareholders who hold their preferred shares in a brokerage account had the dividend paid directly into that account. Questions regarding dividend checks should be directed to the brokerage firm holding the securities or to American Stock Transfer & Trust at 800-937-5449. Willis Lease Finance Corporation leases spare commercial aircraft engines, parts, and aircraft to commercial airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers. These leasing activities are integrated with the purchase and resale of used and refurbished commercial aircraft engines.