News Release
Continental Airlines Announces Proposed Initial Public Offering of Regional Airline Subsidiary
HOUSTON, July 9, 2001 -- Continental Airlines (NYSE: CAL) today announced that its wholly owned regional airline subsidiary, ExpressJet Holdings, Inc. (ExpressJet), a subsidiary of which operates as Continental Express, proposes to file a registration statement later this week with the Securities and Exchange Commission for an initial public offering of its Class A common stock. The proceeds from the offering are expected to be used by ExpressJet to repay a portion of amounts it owes to Continental Airlines.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.