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September 9, 1999

PAN AMERICAN AIRWAYS ANNOUNCES DETAILS OF RENEWED PASSENGER SERVICE

Pan Am Introduces Clipper Class service to Florida beginning October 7th

Portsmouth, NH; Pan American Airways today announced the details of its scheduled passenger service from Portsmouth, NH to Orlando/Sanford International Airport. Flights will begin October 7, 1999. Dave Fink, President of Pan Am said, "Pan Am's return to scheduled service is an exciting milestone for the airline, and we intend to offer comfort unseen on other airlines and convenience unavailable at major airports."

Flights from Portsmouth, NH to Orlando/Sanford will depart at 8:30 AM and arrive at 11:10 AM. Return flights will depart Orlando/Sanford at 1:20 PM and return to Portsmouth at 4:00 PM. Dan Fortnam, Director of Marketing said, "Our flight schedule to Orlando is designed to work with hotel check-in and check-out times and to accommodate travelers heading to the central Florida area. "Fares will begin at $108 each way to Florida. Other destinations will be announced in the coming weeks. Passengers can book flights directly with Pan Am by calling our reservation center at 1-800-FLYPANAM (1-800-359-7262)."

Fink stressed, "Pan Am wants to return some civility to passenger service just as the original airline did when it pioneered air travel with its original Clipper Service." Fink pointed out, "Portsmouth will offer convenience and savings in the form of free parking close to the terminal, short walks to the gate, no long check-in lines, no long waits for baggage claim, no traffic and no chaos." Fink added, "Our departures from Portsmouth will be supported by our adjacent hanger and maintenance facilities. Passenger aircraft can be stored inside at night and during inclement weather, ensuring on time performance. In addition, the lack of congestion at Portsmouth will eliminate delays associated with busier airports, such as gate availability, baggage loading, pushback and airborne holds of arriving aircraft."

Orlando/Sanford International Airport is a 35 minute drive from Orlando's popular attractions and is currently an active passenger facility, primarily servicing charter aircraft. Ground transportation at Orlando/Sanford includes on-field car rental, limousine, shuttle bus and taxi transportation to Orlando's hotels and attractions. Fink added, "We chose Orlando/Sanford because it will support our Clipper Class of service. With a minimal wait for baggage claim, convenience of rental cars and buses, and its overall proximity to Orlando's attractions, we expect that our passengers will find it quicker and easier to use Sanford."

Clipper Class

Fortnam detailed Clipper Class, stating, "When we set out to design our service, the challenge was to deliver a premium and enjoyable service at a competitive fare. The way to do that is to operate at underutilized airports and offer genuine service. Clipper Class will be defined by its attention to passenger conveniences, comfort and avoidance of the hassles associated with airport congestion today." Fortnam added, "Beyond the benefits of non-congested airports, Clipper Class service will feature our reconfigured 727's which have had the total number of seats reduced from 173 to 149, providing passengers with more space, comfort and increased leg room. Seating will be open ensuring quick boarding and prompt departures. In addition, each flight will have an extra flight attendant for more individualized service". Fortnam pointed out that "Clipper Class morning flights will also include complimentary coffee at the ticket counter, fresh bakery foods prepared locally and served warm on board by our flight attendants." "Our goal," added Fortnam, "is to treat our passengers as if they were traveling by private charter, and allow the trip to be as enjoyable as the destination."

About Pan Am:

The original Pan Am, founded in the late 1920's by Juan Trippe, set the standard for modern air travel worldwide as the operator of the famous Pan Am Clippers and, later, as the first to fly the Boeing 747. Along the way, Pan Am's blue globe became one of the most recognized logos in the world.

The new Pan Am was acquired by the owners of New Hampshire-based Guilford Transportation Industries under a Plan of Reorganization approved by a Miami, Florida Bankruptcy Court judge in June of 1998. The new owners relocated the company's headquarters from Ft. Lauderdale to Portsmouth in December of 1998. At Portsmouth, the company operates a 220,000 square foot maintenance facility, as well as other aviation related businesses.