Corporate News Alert

CLEVELAND, Nov. 4, 2004 - Continental Airlines (NYSE: CAL) today announced new, significantly lower fares for travel between Cleveland Hopkins International Airport and the northeast cities of New York and Boston, extending the airline's popular business-friendly fares to two of the largest markets served from Northeast Ohio.

With these new fares, business travelers who plan three or seven days ahead can save more than 50 percent compared to previous fares with similar restrictions. Last-minute walk-up and first class fares also have been reduced significantly. Additionally, Saturday-night stay requirements on leisure fares have been replaced with 3-night or Friday-night stay requirements to give vacationers and weekend travelers more flexibility.

Following are examples of new one-way fares that do not require roundtrip purchase, and the lowest fares previously available. Even lower fares are available to customers able to book further in advance and/or willing to stay for three nights or over a Friday night. Additional taxes and governmental fees apply.

*(Restrictions on fares may apply and are detailed below. Some flights are operated by ExpressJet Airlines, Inc., d.b.a. Continental Express.)

"The extension of our business-friendly fare program to the Cleveland-New York and Cleveland-Boston markets will offer business travelers even more reason to choose Continental Airlines," said Jim Compton, Continental's executive vice president of marketing. "Our flexible schedules have kept business and leisure demand high in these markets. We are confident that more flexible fares will increase ridership even more."

Continental offers four daily flights between Cleveland and Boston, eight daily flights between Cleveland and New York/LaGuardia, one daily flight between Cleveland and New York/Kennedy, and six daily flights between Cleveland and New York/Newark Liberty.

Continental currently offers business travelers lower, more flexible advance-purchase and walk-up one-way fares in about 60 percent of the airline's markets. From Cleveland, cities to which Continental offers these flexible options include Chicago, St. Louis, Los Angeles, San Francisco, Fayetteville/Northwest Arkansas, and cities in Florida.

Continental Airlines, with more than 250 daily departures from Cleveland Hopkins International Airport to nearly 80 destinations worldwide, offers more nonstop service to more cities from Northeast Ohio than any other airline. Continental recently signed a memorandum of understanding with the City of Cleveland pledging a continuation of Continental's hub activities at Hopkins International Airport through 2015. The airline employs more than 3,000 Cleveland-based employees.

Continental serves 151 domestic and 120 international destinations - more than any other airline in the world - and nearly 400 additional points are served via SkyTeam alliance airlines. With more than 41,000 employees, the airline has hubs serving New York, Houston, Cleveland and Guam, and carries approximately 51 million passengers per year. In 2004, Continental has earned awards and critical acclaim for both its operation and its corporate culture. FORTUNE ranks Continental one of the 100 Best Companies to Work For in America, an honor it has earned for six consecutive years, and also ranks Continental as the top airline in its Most Admired Global Companies in 2004. The carrier won major awards at the 2004 OAG Airline of the Year Awards including "Airline of the Year," "Best Airline Based in North America" and "Best Executive/Business Class." For more company information, visit continental.com.

Seats are limited and may not be available on all flights or in all markets. Tickets must be purchased at time of reservation and are nonrefundable and nontransferable. Changes to ticket can be made for a $100 change fee, if meeting the restrictions plus applicable fare difference. Special fares do not apply to codeshare flights. Taxes/Fees: Fares do not include a federal excise tax of up to $3.10 per flight segment of each itinerary. A flight segment is defined as a takeoff and a landing. Fares do not include Passenger Facility Charges of up to $18 per roundtrip or the September 11 Security Fee of up to $10 per roundtrip depending upon routing. An additional $50 fee will be charged for paper tickets issued by Continental. Fares are subject to change without notice. Other restrictions may apply. Continental Express flights are operated by ExpressJet Airlines, Inc.

To receive these alerts via e-mail visit the Corporate Information Center at www.continental.com/cic.