CONTINENTAL AIRLINES-KLM CODESHARE AGREEMENT BENEFITS FREQUENT FLYERS OF BOTH AIRLINES

Earn double miles or points on all flights

The codeshare agreement between KLM Royal Dutch Airlines (NYSE: KLM and AEX: KLM) and Continental Airlines (NYSE: CAL), which goes into effect on January 15, 2002 (subject to government approval), offers major benefits to both carriers’ frequent flyers.



Members of the two airlines’ frequent flyer programs, Continental's OnePass and KLM’s Flying Dutchman, can earn points or miles on all flights operated by the other carrier effective December 1, 2001 and redeem miles or points on the other carrier’s flights effective January 1, 2002. To celebrate the agreement, between January 1 and March 31, 2002 Flying Dutchman members can earn double points on all Continental flights and OnePass members can earn double miles on all KLM flights.



KLM and Continental have also agreed to offer their passengers access to each other’s airport lounges. Effective January 15, 2002 (subject to government approval of the codeshare agreement), Continental’s BusinessFirst customers and Presidents Club members will have access to KLM's Business Class lounge at Amsterdam/Schiphol, while KLM’s Business Class passengers and Royal/Silver Wing members will have access to Continental’s President Club lounges at New York/Newark.



As announced earlier, subject to government approval, effective January 15, 2002 Continental will place its “CO*” code on selected flights to more than 35 European and selected Middle Eastern and African destinations operated by KLM and KLM Cityhopper beyond its Amsterdam hub which connect with Continental’s flights between New York/Newark and Amsterdam. At the same time, KLM will place its “KL*” code on Continental’s flights between New York/Newark and Amsterdam, as well as on selected flights to U.S. destinations operated by Continental beyond its



New York/Newark and Houston hubs which connect to KLM’s flights between Amsterdam and these cities. The codeshare flights will be available for sale effective December 15, 2001.



KLM Royal Dutch Airlines and its partners serve over 400 cities in

78 countries on six continents with a fleet of 130 aircraft from its home base Amsterdam Schiphol in the Netherlands, one of the world’s most modern hub airports. KLM is the core airline of the KLM Group, further comprising KLM cityhopper, KLM uk, and Transavia.



KLM and Northwest Airlines operate the world’s fourth largest airline alliance. Through this alliance and close cooperation with a wide range of European and intercontinental network and route partners, KLM offers passengers and shippers more than 130,000 city-pair connections throughout the world via one or more hubs.



KLM, the world’s oldest airline still operating under its original name, has built a solid reputation worldwide as a leading carrier in its core business activities, the transportation of passengers and cargo. In fiscal 2000/2001 KLM carried more than 16.1 million passengers and 502,000 tons of cargo.



Continental Airlines, the world’s sixth largest airline, operates more than 1,900 departures daily to 122 U.S. and 89 international destinations -- more international cities than any other U.S. carrier. In Europe and the Middle East, Continental serves 16 cities in 11 countries, operating up to 129 departures weekly to its U.S. gateway hubs at New York/Newark and Houston, with onward connections to cities throughout North America, Latin America and the Caribbean. Continental operates a six-times-weekly non-stop service between Amsterdam and New York/Newark.



Continental was named the 2001 Airline of the Year by Air Transport World, making it the only carrier to receive this honor twice in five years. Continental also won five awards, more than any other airline, at the OAG Airline of the Year Awards 2001, including Best Trans-Atlantic Airline and Best Long-Haul Executive/Business Class. Continental’s alliance carriers in Europe include Air Europa, Air France, KLM Royal Dutch Airlines and Virgin Atlantic Airways.