Alpine Air Express Posts First Quarter 10Q for FY 2005.

PROVO, Utah -- Alpine Aviation Inc., a subsidiary of Alpine Air Express Inc. (OTCBB: ALPE), and the third-largest regional cargo airline and transportation logistics company in the United States, with a fleet of 26 airplanes, along with its sister company, Alpine Air Chile, S.A., for the three months ending Jan. 31, 2005 posted gross revenues of $5,212,576 as compared to $2,635,838 from the same period in 2004. This represents over a 97% increase in revenues. The company, however, posted a net loss of $168,843, as compared to a net loss of $413,081 for the three months ending Jan. 31, 2004.

During the quarter ended Jan. 31, 2005, cargo volumes rose about 252% over the same period last year. This dramatic increase has come from servicing the U.S.P.S. contract in Hawaii. Furthermore, the company has carried over 6,700 tons this quarter in 2005, as compared to 1,900 tons in the same quarter last year. These increases also include the effect of peak loads carried during the 2004 Christmas season in the Hawaiian Islands.

Gene Mallette, chairman and CEO of Alpine Air, commented: "Our company continues to work with its customers to provide a continued high level of customer service. During the recent quarter we increased our revenue significantly, while simultaneously reducing our quarterly deficit. Earnings before interest, taxes and depreciation continue to grow. Based on the company's recent trend, we believe that we will return to profitability by the year end."

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 and the U.S. Postal Service. 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, realization of U.S.P.S. projected volumes, 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.