Kansas City, MO—Vanguard Airlines, Inc. (NasdaqSC: VNGD) announced today the appointment of Michael Stellwag to the position of Vice President of Marketing, effective April 10, 2000. Mr. Stellwag is a former employee of Southwest Airlines, Smith Barney and most recently New York investment bank Warburg Dillon Read, where he was an Airline Analyst. While with Southwest Airlines, Mr. Stellwag worked in the Revenue Management and Pricing area of the airline and was a member of the Southwest Culture Committee. Mr. Stellwag is a graduate of Embry-Riddle University earning a bachelor’s degree in Aviation Business Administration and a graduate of the University of North Texas where he earned a master’s in Business Administration.

Robert J. “Rocky” Spane, President and CEO of Vanguard Airlines, said, “We are most fortunate to hire a person of Mr. Stellwag’s caliber and experience. We are confident he will make a major contribution in the areas of route selection, revenue management, product definition and sales. His understanding of not only the airline business but also the ‘Culture’ at Southwest Airlines will undoubtedly help Vanguard achieve the next step in its growth.”

Vanguard, which began service in December 1994 and is headquartered in Kansas City, is a low-fare, 100% ticketless passenger airline providing convenient and frequent scheduled jet services to the following nine cities: Atlanta, Buffalo/Niagara Falls, Chicago-Midway, Dallas/Ft. Worth, Denver, Kansas City, Minneapolis/St. Paul, Myrtle Beach and Pittsburgh. The Company employs approximately 900 full-time equivalent employees and currently operates a fleet of 14 Boeing 737s. For more information on Vanguard or to book reservations on-line, please visit the Company’s Web site at www.flyvanguard.com.

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