Alpine Air Signs New Client to Air Cargo Owner/Operator Program.

Business Editors

PROVO, Utah--(BUSINESS WIRE)--June 16, 2003

Alpine Air Express, Inc. (OTCBB:ALPE), a leading provider of regional air cargo transport and logistics services, today announced a new client signing and aircraft delivery as part of its Owner/Operator Program. The program, a first of its kind, offers air cargo operators a cost effective means of initiating or upgrading operations through the purchase of one of Alpine's turboprop aircraft for operation under Alpine's operating certificate. The delivery marks the first of its kind to the industry. An additional delivery is scheduled for the near future.

The combination of aircraft sales and leasing, coupled with aircraft and operational services to be provided, are estimated to produce substantial new revenue to the Company. The program earmarks a new business center within Alpine.

The Alpine Owner-Operator business center, directed at new clients, serves to increase the Company's client base by offering 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. More information may be found under the Owner Operator program at the Company's Website: www.alpine-air.com.

Mr. Gene Mallette, Chairman and CEO of Alpine Air commented, "We are pleased to announce the signing of a new customer and the delivery of their first aircraft. We remain committed to our business centers and this delivery depicts the effort of our entire Alpine Air team. Numerous members of our staff have worked long hours toward the program's approval and its ultimate success."

Founded in 1975, Alpine Air, a wholly owned Subsidiary, 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 for the United States Postal Service, 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, 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.