Alpine Air Express Announces Quarterly Profit and Outlook for 2008 at Annual Shareholder Meeting.

PROVO, Utah -- Alpine Air Express Inc. (OTCBB: APNX) announced that its operating subsidiary, Alpine Aviation, a leading provider of regional air cargo transport and logistics services, stated in its 10-QSB that the Company increased its income before taxes and preferred stock dividends to $879,462 for the second quarter in 2007. This represents an 8% increase in profits as compared for the same period in 2006.

Revenue for the quarter ended April 30, 2007, was $4,444,989, an increase in total revenue of approximately 18% from the same period in 2006. This increase in revenue is primarily due to the increasing flight operation's revenue which, when combined with the benefit of having locked in a very favorable fuel price, overall profitability improved dramatically.

Gene Mallette, CEO of Alpine Air, commented, "In a trend similar to other national airlines, Alpine was successful in locking in its fuel costs for 2007 at substantial savings to current market pricing. This combined with an increase in per pound revenue, allowed Alpine to retain substantial earnings, which enabled an increase in our profitability. The 8% increase in net earnings is due to our management and flight operations team ensuring that every effort is made to maximize our sustained profitability."

In addition to the quarterly earnings report, Alpine held its annual shareholder meeting at its offices in Provo, Utah, on June 15, 2007. Represented at the meeting was a significant cross-section of management, employees and shareholders. At the meeting, the Board Chairman, Mr. Joseph Etchart, remarked how excited he was to move into this next year. Etchart further commented on the Company's remarkable recovery from the aftermath of 9/11. The return to solid financial strength, and Alpine's accumulating regional cargo industry dominance with over 50 daily routes in Hawaii, Montana, North and South Dakota and Washington State.

Additional Board Members such as General Counsel and Director, Mr. Max Hansen and CEO and Director, Mr. Mallette, added comments depicting 2007 and 2008 as extremely optimistic. Future agenda items include acquisition targets to further expand profitability, market penetration and customer diversification programs.

Mallette added, "We now find ourselves in a position to use our recent earnings to further grow our Company. Any acquisition we evaluate must be self-sustaining and be able to add to our net profits, while having logistical and equipment compatibility to enable our growth path to continue. I am extremely indebted to the tireless work of our General Manager, Bill Distefano, and his team, in creating our operational efficiencies. We expect this trend to continue."

Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States. The Company has an established client base that includes various contract operations, freight forwarders, and other cargo and logistics firms. Alpine Air 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. 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.