CONTINENTAL AIRLINES TO INAUGURATE DAILY FLIGHTS TO ARGENTINA

Continental Airlines (NYSE: CAL and CAL.A) today announced that it will inaugurate daily non-stop flights between Buenos Aires, Argentina, and its hub at Newark International Airport as a result of the U.S. Department of Transportation's route award decision under a recent bilateral agreement between the U.S. and Argentina. Flights are permitted effective Dec. 1, 2001.

"The main elements of our Latin America expansion strategy are complete with the addition of this key route award to Buenos Aires," said Gordon Bethune, chairman and chief executive officer. "We have overcome the last regulatory barrier that stood between air travelers and their need for efficient, comfortable and affordable flights between Argentina and New York."

New Boeing 767 aircraft will be flown on overnight flights in both directions, featuring Continental's award-winning BusinessFirst service with 25 seats in the front cabin. The aircraft has 149 seats in coach.

Connections are available at the Newark hub for flights throughout the Northeast and Europe.

With the addition of Buenos Aires service, Continental will serve six countries in South America, including Argentina, Brazil, Colombia, Ecuador, Peru and Venezuela. Continental is the second largest U.S. carrier to Latin America and the Caribbean, with more than 600 flights per week to 19 countries and 47 cities in the region.

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.