Alpine Air Chile in Discussions With Major Chilean and Argentinean Air Carriers.

Business Editors

PROVO, Utah & SANTIAGO, Chile--(BUSINESS WIRE)--Feb. 11, 2003

Alpine Air Chile, a subsidiary of Alpine Air Express Inc., (OTCBB:ALPE) and a leading provider of regional air cargo transport and logistics services, today announced it has engaged discussions with major air carriers in Chile and Argentina. The intent is to expand service relationships, which will take advantage of Alpine Air Chile's ability to custom schedule air transport. Alpine Air Chile has significant experience with short hauls of its air cargo services, which are traditionally not cost effective for larger regional carriers.

Gene Mallette, chairman and CEO of Alpine Air Express Inc. commented, "A relationship with major carriers, whose high capacity air cargo and passenger service in both Chile and Argentina, would be mutually beneficial. Our parent company, Alpine Air Express and its subsidiary, Alpine Air, have built their business during the last several decades by being able to uniquely tailor services to driving market demands. In light of the recently signed United States and Chile Free Trade Agreement, major carriers within Chile expect an increase in demand for both Chilean domestic and international cargo service. Alpine Air Chile, as the country's only regional cargo carrier, is uniquely positioned to forge long term relationships, which will provide its customers with unique market driven custom scheduled service."

Alpine Air Chile provides competitively priced scheduled and unscheduled air cargo flights throughout Chile and the Falkland Islands. Alpine Air Chile provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients.

This press release may contain forward-looking statements including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful completion of the proposed leasing transaction, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC, including its most recent Form 10-Q and Form 10K. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date the are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.