Alpine Air Initiates Owner/Operator Program; Unique Program Offers Alpine's Resources to Support Small Air Cargo Operators.

Business Editors/Transportation Writers

PROVO, Utah--(BUSINESS WIRE)--Nov. 12, 2002

Alpine Air Express, Inc., (OTCBB:ALPE) a leading provider of regional air cargo transport and logistics services, today introduced its new Owner/Operator Program, a first of its kind program offering air cargo operators a cost effective means of initiating or upgrading operations through purchase of one of Alpine's turboprop aircraft for operation under Alpine's operating certificate. The new FAA-approved program offers pilots, FAR part 135 operators and fixed-base operations the unique opportunity to leverage Alpine's operational resources -- including aircraft, flight crew personnel, maintenance technicians and management expertise -- to support new or expanded business operations at significantly reduced cost.

To provide more detail on the Owner/Operator Program and to assist air cargo operators in the planning and execution of their business needs, Alpine is offering a series of scheduled seminars that include representatives from the FAA, Raytheon Beech, insurance companies, and Alpine's senior management, maintenance and training personnel. More information on the program and seminar schedule may be found at Alpine Air's website at www.alpineairaviation.com.

Eugene Mallette, CEO of Alpine Air Express, commented: "Many airline operators lack the necessary resources to cost effectively upgrade their operations and fully capitalize on the significant new growth opportunities for air cargo delivery. This unique owner/operator program is the first of its kind and extends Alpine's considerable operational resources and proven capabilities and expertise to a wider array of potential new customers and service routes. At the same time, it offers the small air cargo operator the opportunity to increase their cargo and lift capacity through purchase of our aircraft for cost effective operation under our operating license."

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.