ILFC Announces Commencement of Exchange Offer

LOS ANGELES—(BUSINESS WIRE)—International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it has commenced a registered exchange offer to exchange up to $1,250,000,000 8.625% Senior Notes due 2015 (the “8.625% Registered Notes”), which have been registered under the Securities Act of 1933, as amended (the “Securities Act”), for any and all of its privately placed 8.625% Senior Notes due 2015 (the “8.625% Private Notes”), and up to $1,500,000,000 8.750% Senior Notes due 2017 (the “8.750% Registered Notes” and together with the 8.625% Registered Notes, the “Registered Notes”), which have been registered under the Securities Act, for any and all of its privately placed 8.750% Senior Notes due 2017 (the “8.750% Private Notes” and together with the 8.625% Private Notes, the “Private Notes”).

ILFC is making this exchange offer to satisfy its obligations under the registration rights agreements relating to the Private Notes in which the Company agreed to use its commercially reasonable efforts to issue the Registered Notes pursuant to a registration statement under the Securities Act in exchange for the Private Notes. The Registered Notes will contain substantially identical terms to the Private Notes, except for the elimination of certain transfer restrictions, registration rights and additional interest provisions relating to the Private Notes. The exchange offer will not affect ILFC’s outstanding debt levels, as the Registered Notes will be issued only upon cancellation of a like amount of currently outstanding Private Notes. ILFC will not receive any proceeds from the exchange offer.

Any Private Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, other than additional interest, but will not retain certain registration and other rights under the registration rights agreement.

The terms of the exchange offer are contained in the exchange offer prospectus, dated April 6, 2011, and the related letter of transmittal.

The exchange offer will expire at 5:00 p.m., New York City time, on May 4, 2011, unless extended. Private Notes tendered pursuant to the exchange offer may be withdrawn at any time prior to the expiration date by following the procedures set forth in the exchange offer prospectus.

Requests for assistance or for copies of the exchange offer prospectus should be directed to Deutsche Bank Trust Company Americas, the exchange agent, at c/o DB SERVICES AMERICAS, INC., MS JCK01-0218, 5022 Gate Parkway, Suite 200, Jacksonville, FL 32256, (800) 735-7777.

This press release shall not constitute an offer to sell any securities or a solicitation of an offer to buy any securities. The exchange offer will be made only by means of a written prospectus.