The Mint Leasing, Inc. Renews Credit Line With Sterling Bank of Houston

HOUSTON, Oct. 29, 2009 -- The Mint Leasing, Inc. (OTC Bulletin Board: MLES) ("Mint Leasing" and "the Company), which provides innovative leasing services to customers of franchised automobile dealers throughout the United States, today announced that on or around October 27, 2009, the Company entered into a Modification, Renewal and Extension Agreement and an Amended and Restated Loan Agreement (collectively the "Renewal") in connection with its line of credit facility with Sterling Bank of Houston ("Sterling Bank").

Pursuant to the Renewal, the line of credit was renewed in the amount of $29,238,162, which totaled the amount outstanding under the line of credit as of September 30, 2009, and the maturity date of the line of credit was extended until October 10, 2010. The Renewal bears interest at the prime rate plus 2%, subject to a floor of 6%.

"We are pleased to announce this Renewal agreement with Sterling Bank," stated Jerry Parish, Chief Executive Officer of The Mint Leasing, Inc. "When combined with the funds available under our line of credit with Moody Bank, the Renewal and extension of the Sterling Bank line will provide the funds necessary to further expand our leasing portfolio in the coming months."

For additional information, please refer to the Company's Form 8-K filing with the Securities and Exchange Commission dated October 28, 2009.

About The Mint Leasing, Inc.

The Mint Leasing, Inc. represents an alternative to traditional financing companies by providing its innovative vehicle leasing solutions to the customers of premier automotive retailers. Most of its customers are located in Texas and six other states in the southeastern U.S. The Mint Leasing's customers are primarily comprised of brand-name automobile dealers that seek to provide leasing options to their customers. The Mint Leasing, Inc. is responsible for underwriting criteria and procedures, administration of the leases, and collection of payments from lessees.

The Company is headquartered in Houston, Texas, and its common stock trades on the OTC Bulletin Board under the symbol "MLES".

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties, and other risks disclosed in the Company's periodic filings with the U.S. Securities and Exchange Commission. The Company takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.