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Toni Perazzo
Acting President and Chief Financial Officer
(650) 340-1888

FOR IMMEDIATE RELEASE

Aerocentury Corp. Reports Earnings Growth of 80% to $1.4 Million, or $0.87 per Share, in 2Q15 from 1Q15

(BURLINGAME, CA), August 14, 2015 — AeroCentury Corp. (NYSE MKT: ACY), an independent aircraft leasing company, today reported earnings growth of 80% to $1.4 million, or $0.87 per diluted share, in the second quarter of 2015, from $752,000, or $0.48 per diluted share, in the first quarter of 2015. Second quarter profits were fueled by the Company’s portfolio modernization program, which is generating gains from sale of older assets. Following the $6.8 million non-cash, pre-tax write-down of certain older aircraft, the net loss in the second quarter of 2014 was $3.9 million, or ($2.54) per diluted share.

Net income improved to $2.1 million, or $1.36 per diluted share, for the first six months of 2015, compared to a net loss of $3.6 million, or $2.30 per diluted share, for the first six months of 2014. All reported results are unaudited.

"Our initiatives to modernize our portfolio of regional aircraft have generated improved utilization and contributed to strong lease revenues this year," said Neal D. Crispin, President and Chief Executive Officer. "We are also pleased to have the continuing support of a strong majority of our shareholders in the recent annual election of directors. We view this year’s proxy results from our shareholders as a vote of confidence in both our board of directors and in our business model."

Second Quarter 2015 Highlights (at or for the periods ended June 30, 2015, compared to March 31, 2015 and June 30, 2014):

AeroCentury is an aircraft operating lessor and finance company specializing in leasing regional aircraft and engines utilizing triple net leases. Currently, the Company's portfolio consists of thirty-eight aircraft and five engines, covering ten different aircraft types. The Company's current customer base comprises thirteen airlines operating worldwide.

Currently, AeroCentury's portfolio consists of thirty-eight aircraft, two of which are operating under salestype finance leases covering ten different aircraft types and five engines, compared to forty aircraft, all under operating leases, and five engines at June 30, 2014. The current customer base comprises fourteen airlines operating worldwide.

AeroCentury is an aircraft operating lessor and finance company specializing in leasing regional aircraft and engines utilizing triple net leases. The Company's aircraft and engines are leased to regional airlines and commercial users worldwide.

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