July 7 2005 - Press Release

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Toni Perazzo
Chief Financial Officer

(650) 340-1888 FOR IMMEDIATE RELEASE

AEROCENTURY CORP. ANNOUNCES AIRCRAFT TRANSACTION

(BURLINGAME, CA), July 7, 2005 -- AeroCentury Corp., (ASE:ACY), an independent aircraft leasing company, today announced the purchase and lease of a Saab 340B aircraft.

The Company purchased a Saab 340B aircraft, serial number 310, and assumed a lease to an Austrailian operator, Macair Airlines Pty Limited, with a remaining term of 45 months.

“We are pleased to add Macair as a customer,” said Neal Crispin, Chairman and President of AeroCentury. “They have a very strong market presence, both in their contract and charter services and through their commercial relationship with Qantas.”

Macair Airlines Pty Limited, founded in 1992, is headquartered in Townville, Queensland and currently has 13 aircraft in its fleet. Macair provides contract and charter operations and services 32 scheduled routes under a code sharing agreement with Qantas.

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 on lease to regional airlines and commercial users worldwide.