CONTINENTAL AIRLINES JUMPS TO NO. 18 IN FORTUNE'S "100 BEST COMPANIES TO WORK FOR" LIST

Continental makes the list for the third year in a row

For the third year in a row, Continental Airlines (NYSE: CAL and CAL.A) today was named one of the "100 Best Companies to Work For" by FORTUNE magazine in a study conducted in conjunction with the Great Place to Work Institute of San Francisco. Continental, the top-ranked company based in Houston, jumped to No. 18 on the list from last year's ranking at No. 23. In number of employees, Continental is the largest of the top 41 companies on the list.

"Once again, Continental has proved that it is at the top of the industry," said Chairman and CEO Gordon Bethune. "Every year, my 53,400 co-workers continue to make Continental an even better place to work."

The study selects the nation's best companies to work for by evaluating work environment and company culture, compensation and benefits, and other measures of job satisfaction.

In addition to company-provided information, a survey sent to randomly selected employees determines the company's ranking on the list. FORTUNE and the Great Place to Work Institute created the random selection process and the survey, which asks employees to evaluate trust in management, pride in work and relationships with co-workers.

The rankings will appear in the Jan. 8, 2001, issue of FORTUNE magazine.

San Francisco Customer Service Agent Doug Brown helped deliver the entry to the Great Place to Work Institute. "We deserve it," Brown said. "However, just as with all of the other awards we win, we will have to keep doing what we have been doing in order to win again next year."

Some of Continental's workplace and benefits enhancements over the past year include the following:

* Continental initiated the Travel Companion program, allowing employees to add a friend or family member as their travel companion who receives unlimited online travel privileges.

* The carrier announced an Enhanced Retirement program by recognizing past service and improving the 401(k) Savings Plan by increasing the company match and the maximum employee contribution. Continental now has over 80 investment option funds. The frequency of the match was increased to quarterly from yearly.

* Continental announced an industry standard vacation and holiday schedule.

* In March 2000, Continental's 8,500 flight attendants ratified a new four-and-a-half- year labor contract. The contract came after six months of negotiations with the International Association of Machinists and Aerospace Workers.

* Continental awarded 17 more employees with new Eddie Bauer Edition Ford Explorers. To date, the company has given 75 Explorers worth 2.6 million to employees who have perfect attendance during a six-month time period. Winners also receive a check to cover income taxes on the prize.

* Continental absorbed all increased cost of premiums for medical insurance for the second year.

* In celebration of the airline's sweep of the Frequent Flyer magazine and J.D. Power and Associates Customer Satisfaction study, Continental stations worldwide served ice cream bars and Coca-Cola to employees during "Power" breaks.

Continental Airlines is the fifth largest airline in the U.S., offering more than 2,400 departures daily to 138 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.

Continental 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).