Continental Airlines (NYSE: CAL) and
Transbrasil announced today that they have formed a broad strategic marketing
alliance.  This new partnership will include codesharing on each other`s
flights, reciprocal frequent flyer benefits on both Continental and
Transbrasil`s flights network-wide.

“Brazil is one of the most dynamic and growing business and leisure
markets in the world,” said David Grizzle, Senior Vice President - Corporate
Development for Continental Airlines, “and this new relationship with
Transbrasil will allow Continental to expand its scope of service to the
largest nation in South America.”

Antonio Celso Cipriani, Chief Executive Officer for Transbrasil added, “We
are excited about the tremendous opportunities offered by an alliance with
Continental Airlines.  We expect Transbrasil`s growth and improvement in
customer service to further accelerate.”

Continental Airlines will place its code, subject to government approval,
on Transbrasil flights operating between Sao Paulo to Orlando and Miami.
Codesharing will also be in place to Brazilian cities beyond Sao Paulo
including: Rio de Janeiro, Brasilia, Curitiba, Fortaleza, Londrina,
Navegantes, Porto Alegre, Salvador, Recife, Ribeirao Preto and others.
 
Transbrasil will codeshare on Continental`s daily flights between Sao
Paulo and Rio de Janeiro to both Houston and Newark/New York with continuing
codeshare service to over 27 U.S. destinations through Continental`s
convenient hub networks.

Continental is the second largest U.S. carrier to Latin America serving 48
destinations in 20 countries in Mexico, Central and South America and the
Caribbean.

Continental Airlines is the fifth largest airline in the U.S., offering
more than 2,200 departures daily to 133 domestic and 92 international
destinations.  Operating hubs in Newark, Houston, Cleveland and Guam,
Continental (http://www.continental.com) serves more international cities than any
other U.S. carrier, including extensive service throughout the Americas,
Europe and Asia.

Transbrasil (http://www.transbrasil.com.br) is the fourth largest Brazilian
carrier operating 27 daily departures to 16 destinations from its hub at Sao
Paulo and 12 daily departures to five destinations from Rio de Janeiro.  It is
the only Brazilian airline to fly straight to Orlando, one of the most popular
destinations among Brazilians.  It also connects Brazilians straight to Latin
America and Europe.

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