CONTINENTAL AIRLINES AND TRANSBRASIL ANNOUNCE MARKETING ALLIANCE

Continental Airlines (NYSE: CAL) and Transbrasil announced today that they have formed a broad strategic marketing alliance.

This new partnership will include codesharing on each other's flights, reciprocal frequent flyer benefits on both Continental and Transbrasil's flights network-wide.

"Brazil is one of the most dynamic and growing business and leisure markets in the world," said David Grizzle, Senior Vice President - Corporate Development for Continental Airlines, "and this new relationship with Transbrasil will allow Continental to expand its scope of service to the largest nation in South America." Antônio Celso Cipriani, Chief Executive Officer for Transbrasil added, "We are excited about the tremendous opportunities offered by an alliance with Continental Airlines. We expect Transbrasil's growth and improvement in customer service to further accelerate."

Continental Airlines will place its code, subject to government approval, on Transbrasil flights operating between São Paulo to Orlando and Miami.

Codesharing will also be in place to Brazilian cities beyond São Paulo including: Rio de Janeiro, Brasília, Curitiba, Fortaleza, Londrina, Navegantes, Porto Alegre, Salvador, Recife, Ribeirão Preto and others.

Transbrasil will codeshare on Continental's daily flights between São Paulo and Rio de Janeiro to both Houston and Newark/New York with continuing codeshare service to over 27 U.S. destinations through Continental's convenient hub networks.

Continental is the second largest U.S. carrier to Latin America serving 48 destinations in 20 countries in Mexico, Central and South America and the Caribbean.

Continental Airlines is the fifth largest airline in the U.S., offering more than 2,200 departures daily to 133 domestic and 92 international destinations. Operating hubs in Newark, Houston, Cleveland and Guam, Continental serves more international cities than any other U.S. carrier, including extensive service throughout the Americas, Europe and Asia.

Transbrasil is the fourth largest Brazilian carrier operating 27 daily departures to 16 destinations from its hub at São Paulo and 12 daily departures to five destinations from Rio de Janeiro. It is the only Brazilian airline to fly straight to Orlando, one of the most popular destinations among Brazilians. It also connects Brazilians straight to Latin America and Europe.