CONTINENTAL APPLAUDS IMPORTANT AVIATION PACT WITH ARGENTINA

Continental praises the efforts of U.S. officials

Continental Airlines (NYSE: CAL and CAL.A) announced today that officials of the United States and the Republic of Argentina have reached an aviation agreement which will allow additional passenger service between the two nations.

A newly-signed diplomatic note opens the way for 14 new flights per week; seven will become available in April 2001, and seven more will be available the following December. Additionally, the agreement allows for codesharing (bilateral, third-country, and same-country) and expanded cargo opportunities.

"The men and women of the State Department, the Department of Transportation and the U.S. Embassy in Buenos Aires deserve our gratitude and praise for negotiating this important agreement," said Continental Airlines Chairman and CEO Gordon Bethune. "It will be good for competition in the region and good for our customers. We hope to be permitted to fly to Argentina as soon as possible."

As the No. 2 U.S. carrier to Latin America and the Caribbean, Continental currently serves 19 countries and 47 cities in the region, offering more than 500 weekly flights.

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.