Kansas City, MO—Vanguard Airlines, Inc. (NasdaqSC: VNGD) today announced William A. Garrett, Vice President of Finance and Chief Financial Officer and Russell Winter, Vice President of Marketing and Planning will leave the Company during February 2000.

Mr. Garrett, who joined Vanguard in June 1996, accepted a position with Gemini Air Cargo as its Senior Vice President and Chief Financial Officer. “I am proud to have been part of the Vanguard team over the past three plus years as the airline has made a significant amount of progress in that time. I am very optimistic about the Company’s future success under the leadership of Rocky Spane,” Mr. Garrett said.

Mr. Winter, who joined Vanguard in September 1997, has decided to pursue other interests. “It was a tremendous experience to participate in the turnaround and growth that has occurred at Vanguard since I arrived. I depart in the knowledge that Vanguard is in the safe hands of some of the best employees in the industry,” Mr. Winter said.

“Bill and Russell played a major role in helping Vanguard emerge from its start-up airline status. During their tenure the airline grew significantly and recently celebrated its fifth anniversary of service. The airline continues on its growth plan,” said Robert J. Spane, President and Chief Executive Officer of Vanguard. “We will miss their management skills and wish them the best in their future endeavors,” Mr. Spane continued.

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 ten cities: Atlanta, Buffalo/Niagara Falls, Chicago-Midway, Cincinnati, 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 thirteen Boeing 737-200’s. For more information on Vanguard, please visit our web site at www.flyvanguard.com.

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