Southwest Airlines’ Board of Directors declared a quarterly dividend of $.0055 per share to Shareholders of record at the close of business on September 1, 1999 on all shares then issued and outstanding. The quarterly dividend of $.0055 per share has been adjusted to reflect the effect of the 3-for-2 stock split to be distributed on July 19, 1999 to Shareholders of record as of the close of business on June 30, 1999. The 92nd consecutive dividend will be paid on September 22, 1999.

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