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Continental Airlines Elects Jeff Smisek to Board

Continental Airlines today
announced the election of Jeff Smisek, executive vice president and
president-elect of Continental Airlines, Inc., to its board of directors.
Smisek will join the board upon the retirement of Gordon Bethune, current
chairman and chief executive officer, filling the vacancy on the board
created by Bethune’s resignation as a board member, expected to occur Dec.
30, 2004. In addition, Smisek will serve on the board’s finance committee. “Jeff has played an important role in Continental’s success over the past
ten years,” said Gordon Bethune. “As a proven leader at Continental, Jeff
will be a valuable addition to our board of directors.”

Smisek will become president of Continental when Chairman and CEO Gordon
Bethune retires and President and Chief Operating Officer Larry Kellner
becomes chairman and CEO.

Smisek joined Continental in early 1995 as senior vice president and
general counsel and has assumed increasing responsibilities over his
career at Continental. He graduated from Princeton University, A.B. summa
cum laude in economics, in 1976, and Harvard Law School, J.D. magna*censored*
laude, in 1982. He also serves on the board of directors of Varco
International Inc., where he is chairman of the corporate governance