CONTINENTAL AIRLINES TO ACQUIRE MORE BOEING 777s AND 737-800s

Continental Airlines (NYSE: CAL and CAL.A) today announced that it has converted deliveries of two Boeing 767-400ER aircraft, originally scheduled for 2004, into deliveries of two Boeing 777-200ER (extended range) aircraft for delivery in early 2002. Boeing 777s will be used on the carrier's recently announced non-stop New York-Hong Kong flights.

In addition, the carrier placed an order for five Boeing 737-800 aircraft.

The 737-800s will be delivered in the second half of 2002.

Continental currently has 16 777s and 52 737-800s in its fleet. In total, Continental is taking delivery of 28 new Boeing jets this year, including four 767-400ER and three 767-200ER aircraft. Continental currently has a total of 33 outstanding firm orders for the 767 (23 -400s and 10 -200s). By year's end, Continental's fleet size will have grown to 371 aircraft from 303 in 1995, a 22 percent increase.

By the end of 2002, Continental expects to increase its fleet size to approximately 415 aircraft, nearly 70 percent of which are expected to be common-rated Boeing 737 aircraft (-300, -500, -700, -800 and -900 series).

As previously announced, Continental also plans to acquire 15 Next-Generation Boeing 737-900s, which will be delivered between May 2001 and July 2002.