Alpine Air Express Announces Management Team for New Chile Operations.

Business Editors

PROVO, Utah & SANTIAGO, Chile--(BUSINESS WIRE)--Oct. 3, 2002

Alpine Air Express, Inc. (OTCBB:ALPE), a leading provider of regional air cargo transport and logistics services, today introduced the management team for Alpine Air Express Chile, S.A., its majority owned subsidiary based in Santiago, Chile. Originally announced on Sept. 16, 2002, the newly formed subsidiary expands Alpine's operations into South America and will provide regularly scheduled seven day air cargo service in Chile commencing in mid-October.

Eugene Mallette, CEO of Alpine Air Express, commented: "Chile represents a tremendous growth opportunity for Alpine and we have assembled a strong leadership team with significant industry experience in both the U.S. and Chile to guide our new operations. We are confident in their ability to maximize our capabilities and leverage our unique competitive advantages to fully capitalize on the significant potential for air cargo delivery in this region."

Alpine Air Express Chile, S.A. Management Team

-- President, Bill Distefano is also President of Alpine Air Express. With over 28 years of service with the Company, Distefano has intimate knowledge of all facets of Alpine's operations. Under his direction, the Company has increased aircraft utilization, limited extensive maintenance down time, and has become the on-time performance leader with the United States Postal Service.

-- Chief Financial Officer, Felipe Contardo was previously with ANAER, a Chilean aircraft manufacturer, where he was responsible for national and international business development. He has over 25 years' experience in Logistics and Finance with the Chilean Air Force.

-- Executive Vice President, Jorge Matthei was most recently a partner with Rexman & Matthei Ltd. Co., representing Trans Air Portugal in the sale of heavy commercial maintenance, commercial jet engine maintenance and engineering, and military aircraft maintenance services. Prior to Rexman & Matthei, he served as the Chilean representative for Avcom Technologies, a Texas-based dealer in aircraft and parts.

-- Director of Operations, Enrique Cortes has extensive experience in the field of aviation, having served in various capacities within the Chilean Air Force including Aeronautic Management Engineer, Aeronautic Technical Academy Director, and Operations Director.

-- Director of Maintenance, Jorge Gainsborg has over 25 years' experience in the aviation industry. Most recently he has served as a consultant and technical advisor to several Chilean air companies including Aeroservice SA, Linea Aereo de Helicopteros, Club Sereo Ejercito de Chile, Club Aereo Santiago, and Piper Service.

Founded in 1975, Alpine Air provides competitively priced scheduled air cargo flights throughout the Western and Southwestern United States and Chile. The Company has an established client base that includes various contract operations for the United States Postal Service, freight forwarders, and other cargo and logistics firms. Alpine 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, 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 they 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.