BBAM Press release

San Francisco, CA, February 1, 2010 — BBAM LLC, a global aircraft lessor and manager of FLY Leasing. (NYSE: FLY), announced today that Ranga Karumbunathan has joined the company as Senior Vice President – Marketing.

Mr. Karumbunathan will head BBAM’s office in Dubai and will lead BBAM’s marketing and origination efforts in the Middle East and the Indian Sub-Continent.

BBAM President and Chief Executive Officer, Steve Zissis commented, “We are very pleased to welcome Ranga Karumbunathan to BBAM. BBAM has been very active in the Middle East and the Indian Sub-Continent and we see them as continuing to be key areas for future growth in the aircraft leasing industry. The addition of Ranga to the BBAM team builds on our long-standing commitment to the region as Ranga is well versed in these markets, having previously held senior positions with RBS Aviation Capital in Dubai and Emirates Airlines.”

Mr. Karumbunathan was formerly a Senior Vice President of RBS Aviation Capital. Ranga holds a Master of Business Administration degree in finance from the University of British Columbia and a Master of Science degree in Industrial Engineering from Wichita State University.

About BBAM
BBAM is one of the leading managers of leased commercial aircraft and manages over 380 aircraft with a value in excess of $11 billion. BBAM manages aircraft for an array of related and third parties, including Nomura Babcock & Brown (“NBB”), a wholly-owned subsidiary of Nomura Securities, and FLY Leasing Limited, a publicly-traded aircraft leasing company listed on the New York Stock Exchange.

For further information, please contact:
Greg Azzara
BBAM LLC
Tel: +1.415.267.1600
Email: info@bbam.com