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

HOUSTON, Oct. 29 /PRNewswire-FirstCall/ -- 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.

Contact: RJ Falkner & Company, Inc., Investor Relations Counsel at
(800) 377-9893 or via email at info@rjfalkner.com
or
The Mint Leasing, Inc. Investor Relations at investorinfo@mintleasing.com

SOURCE The Mint Leasing, Inc.

Investor Relations Counsel, RJ Falkner & Company, Inc., 1-800-377-9893,
info@rjfalkner.com, for The Mint Leasing, Inc.; or Investor Relations of The
Mint Leasing, Inc., investorinfo@mintleasing.com