Alpine Air Rejects Recent Alegations as Meritless.

Business Editors

PROVO, Utah--(BUSINESS WIRE)--Jan. 8, 2003

Alpine Air Express Inc., (OTCBB:ALPE) a leading provider of regional air cargo transport and logistics services, today responded to its recent 8K filing in which a competitor who is liquidating its business alleged that Kenneth Holliday, an Alpine Air Express board member, breached his duty to North South Airways by supplying confidential information to Alpine Air Express and its subsidiaries. According to the company, other than being competitors, neither Alpine Air Express and its subsidiaries, nor its board members have any relationship with North South Airway.

Gene Mallete, chairman and CEO of Alpine Air commented: "Having been in business for more than 28 years, the employees or board members of Alpine Air Express, have respectively conducted their business with integrity and moral duty. We find it ridiculous to allege otherwise. In the initial review of the complaint, we not only reject the allegations, but also find them baseless and completely without merit. With our corporate counsel, we intend to resolve the issue quickly and firmly. We will respond vigorously to any company who wishes to slander the good name and reputation we have worked hard for many years to establish."

Founded in 1975, Alpine Air 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 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, 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, 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 the 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.