Continental Extension of Exchange Offer

HOUSTON, July 29 /PRNewswire-FirstCall/—Continental Airlines, Inc. (NYSE: CAL) today announced that it is extending the expiration date for its offer to exchange up to $200,000,000 aggregate principal amount of its unregistered Floating Rate Secured Notes due 2007, which were issued on December 6, 2002 (the “Old Senior Notes”), for a like principal amount of Floating Rate Secured Notes due 2007 that have been registered under the Securities Act of 1933, as amended. The exchange offer will now expire at 5:00 p.m., New York City time, on July 31, 2003, unless extended further. All other terms of the exchange offer remain unchanged.
As of 5:00 p.m., New York City time, on July 28, 2003, the original expiration date, Continental Airlines, Inc. was advised by the exchange agent that an aggregate principal amount of approximately $198,470,000 of Old Senior Notes had been validly tendered in the exchange offer.
This announcement is neither an offer to exchange nor a solicitation of an offer to exchange any securities.
Requests for assistance regarding the exchange offer or for copies of the exchange offer materials should be directed to the exchange agent, Wilmington Trust Company, Corporate Trust Reorg Services, 1100 North Market Street, Wilmington, Delaware 19890-1615, telephone: (302) 636-6472, facsimile: (302) 636-4145.
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