STAMFORD, Conn., Aug. 7 /PRNewswire-FirstCall/ -- Aircastle Limited (NYSE:AYR) today announced its initial public offering of 9,090,900 common shares priced at $23.00 per share. Aircastle Limited also granted the underwriters an option to purchase up to 1,363,635 common shares to cover over-allotments, if any. The shares will begin trading on August 8, 2006, on the New York Stock Exchange under the symbol "AYR." The offering is expected to close on August 11, 2006. JPMorgan, Bear, Stearns & Co. Inc. and Citigroup Global Markets Inc. are acting as joint book running managers and as representatives for the underwriters of this offering. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Aircastle and Sidley Austin LLP acted as legal advisor to the underwriters. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. Copies of the prospectus related to the offering may be obtained from the prospectus departments of: JPMorgan, located at National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245; Bear, Stearns & Co. Inc., located at 383 Madison Avenue, 41st Floor, New York, NY 10179; and Citigroup Global Markets, Inc., located at 388 Greenwich Street, 34th Floor, New York, NY 10013. Aircastle Limited is an aviation company that acquires, owns and leases high-utility commercial jet aircraft to airlines throughout the world. As of August 3, 2006, Aircastle had acquired and committed to acquire $1.7 billion of aviation assets including 66 aircraft leased to 32 lessees located in 23 countries. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements regarding the closing of the offering, the anticipated issuance of shares by Aircastle Limited and other statements that are not historical facts. Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "target(s)," "project(s)," "believe(s)," "seek(s)," "estimate(s)" and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle Limited can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Aircastle Limited's expectations include, but are not limited to, (a) customary closing conditions and (b) such other risk factors as may be discussed in the final prospectus relating to the offering and subsequent reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Aircastle Limited's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. DATASOURCE: Aircastle Limited CONTACT: Francie Nagy, Investor Relations of Aircastle Limited, +1-212-515-4625

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