On February 11, 2015, Lee G. Beaumont announced that he has sent a notice of nomination to the Vice President & Chief Financial Officer of AeroCentury Corp. on February 6, 2015. Pursuant to the nomination notice, Lee G. Beaumont announced that he has formerly withdrawn the offer to discuss a potential acquisition and notified the Company that Lee G. Beaumont intends to nominate himself for election as a director of the Company at the next annual meeting of the Company's stockholders.

In connection with such nomination, Lee G. Beaumont announced that he intends to prepare, file with the Commission and mail definitive proxy materials and solicit proxies from holders of at least the percentage of the Company's voting shares required to approve the election of a director.