Alpine Air Express CEO Addresses Cargo Facts 2001 Conference.

Business Editors/Transportation Writers

PROVO, Utah--(BUSINESS WIRE)--Jan. 17, 2002

Alpine Air Express, Inc., (OTCBB:ALPE) a leading provider of regional air cargo transport and logistics services, today reported that its Chairman and CEO Gene Mallette addressed an aircraft industry delegation at the Cargo Facts 2001 conference in Seattle, Washington. In his presentation, Mallette reviewed Alpine's business plan, its acquisition and expansion strategy, and its pending application for listing on the Nasdaq market.

Mallette commented: "We are encouraged but not surprised in conference reports noting that by November, freight volume had returned to within 2% of year-ago volumes. December e-commerce volume actually exceeded the previous year period and retail remained as strong. Our strategic plan to acquire additional Beechcraft 1900/C aircraft and reconfigure them into freighters in 2002 ensures we will have the capacity to meet the increasing demand for air cargo services in the rapidly growing Western regions we serve."

Cargo Facts 2001 is the annual international Aircraft Symposium sponsored by the Air Cargo Management Group and attended by over 500 paid delegates. The highly regarded conference is a leading forum for industry leaders to explore and detail the current state of development, modification, and usage of passenger and freight aircraft. The delegates are comprised of buyers, sellers, financiers, service providers, and operators of the commercial aircraft fleet. Originally slated for October, 2001, the conference was rescheduled due to the events of September 11th.

Founded in 1975, Alpine Air Express operates 23 aircraft to provide competitively priced scheduled air cargo flights throughout the Western United States. 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 concerning Alpine Air Express, Inc., subject to a number of known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from those described or implied in any forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Company's filings with the SEC, including its most recent Form 10-Q and Form 10K.