CONTINENTAL AIRLINES TAKES DELIVERY OF FIRST BOEING 757-300

Continental Airlines (NYSE: CAL) today took delivery of its first Boeing 757-300 aircraft from The Boeing Company as part of the airline's ongoing fleet modernization program. The aircraft is the first of 15 Boeing 757-300 aircraft to be delivered through 2005.

The aircraft, with 24 seats in first class and 186 seats in economy, will fly primarily domestic routes. The 757-300, a stretched version of the 757-200, carries 27 more economy customers than the 757-200 and increases the available cargo volume by nearly 40 percent.

As it moves toward just three fleet types -- 777, 767/757 and the 737 -- the airline increases its efficiency with reduced fuel consumption, flexibility in scheduling and spare parts inventory commonality. The financing for this aircraft, along with other aircraft delivered to Continental since Sept. 11, was raised earlier in 2001.

"The new Boeing 757-300 allows Continental to meet increased capacity demands on certain routes, while maintaining a common and efficient fleet," said Gordon Bethune, Continental chairman and CEO.

The 757-300 will be powered by Rolls-Royce RB211 engines, which have demonstrated a high degree of reliability. This order will take Continental's 757 fleet to 56 aircraft, including the 41 757-200s that Continental has acquired beginning in 1994. Continental operates a total fleet of 351 jets.