CONTINENTAL AIRLINES ANNOUNCES DAILY NON-STOP SERVICE BETWEEN NEW YORK AND HONG KONG

First-ever scheduled non-stop flight to be the longest operated by any U.S. airline

Continental Airlines (NYSE: CAL and CAL.A), the world's sixth largest airline, today announced it will launch new daily non-stop Boeing 777 service between New York and Hong Kong, effective March 1, 2001, subject to government approval. This will mark the first time any airline has flown scheduled non-stop service between the two cities, saving travelers three hours en route from New York. The new service will be the longest non-stop flight operated by a U.S. airline and the longest scheduled non-stop flight ever flown out of New York. The 7,337 nautical-mile trip is also the longest route operated with a B-777 aircraft.*

"Hong Kong is the largest market from New York that is currently without scheduled non-stop service, and it is clear that most travelers prefer a non-stop," said Continental Airlines' Chairman and Chief Executive Officer Gordon Bethune. "As New York's hometown airline, we're very pleased to link two of the world's leading business centers."

Service will be operated with a 283-seat Boeing 777-200 aircraft, carrying 48 passengers in the BusinessFirst cabin and 235 in coach.

Continental flight 99 will depart Newark International Airport daily at 11:00 a.m., arriving at Hong Kong Chek Lap Kok International Airport at 4:30 p.m. the next day. Returning flight 98 will depart Hong Kong at 12:45 p.m., arriving in Newark at 3:25 p.m. the same day. The flight will be approximately 16 hours 30 minutes outbound and 15 hours 40 minutes on the return.

The new route has been conveniently timed to connect with an extensive network of service throughout the U.S., Canada and Latin America.

A Long History in Asia Although a newcomer to the trans-Pacific market from Hong Kong, Continental Airlines is no stranger to Hong Kong or to Asia. Continental operates daily non-stop B-777 flights between Tokyo and both New York and Houston. Its Continental Micronesia subsidiary, based in Guam, has served the Pacific region for more than 30 years. Continental has served Hong Kong from Guam for more than 10 years and currently operates three weekly flights with a B-737-800 aircraft. Additionally, Continental serves eight cities in Japan (more than any other U.S. carrier), including Tokyo, Nagoya, Osaka, Fukuoka, Sendai, Sapporo, Niigata, and Okayama, as well as Taiwan, Korea, the Philippines, Indonesia, Australia, Hawaii, Saipan, and the islands of Micronesia.

Continental Airlines is the fifth largest airline in the U.S., offering more than 2,300 departures daily to 138 domestic and 95 international destinations. Operating major hubs in New York, Houston and Cleveland, Continental (www.continental.com) serves more international cities than any other U.S. carrier, including extensive service throughout the Americas, Europe and Asia.

Continental is in the top quarter of FORTUNE magazine's "100 Best Companies to Work for in America," and is ranked the nation's No. 1 airline in customer satisfaction for long and short-haul flights by Frequent Flyer Magazine and J.D. Power and Associates. Continental has received numerous awards for its BusinessFirst premium cabin (Condé Nast Traveler, OAG, Entrepreneur and SmartMoney magazines), OnePass frequent flyer program (InsideFlyer's Freddie Awards) and overall operations and management (Air Transport World's 1996 Airline of the Year).