Amtran Announces Date for Shareholders Meeting.

Business Editors

INDIANAPOLIS--(BUSINESS WIRE)--Sept. 10, 2001

Amtran, Inc. (Nasdaq:AMTR), parent company of American Trans Air, Inc., announced that its annual meeting of shareholders, which was previously adjourned on May 29, 2001, will be reconvened at 8:00 a.m., local time, October 10, 2001 at Amtran's headquarters in Indianapolis, Indiana. The proposed transaction in which Amtran would be taken private, among other things, will be voted upon at that time. Holders of shares of Amtran common stock as of the close of business on August 20, 2001 will be entitled to vote at the annual meeting. Amtran also announced today that it has begun mailing proxy materials for the adjourned annual meeting to its shareholders.

Amtran employs over 8,000 people. The Company's common stock trades on the NASDAQ Stock Market under the symbol "AMTR." ATA, now in its 28th year of operation, is the nation's 11th largest passenger carrier, based on revenue passenger miles. ATA operates significant scheduled service from Chicago-Midway and Indianapolis to 28 destinations and has a fleet of 58 aircraft, including 6 Boeing 737s, 2 Boeing 757-300s, 15 Boeing 757-200s, 19 Boeing 727s, and 16 Lockheed L-1011s. Chicago Express Airlines, Inc., the Company's wholly-owned commuter airline, operates eleven Saab 340Bs. The entire fleet is supported by the Company's own maintenance and engineering facilities in Indianapolis and Chicago-Midway and maintenance support stations worldwide. You can learn more about ATA by visiting its website at www.ata.com.

This press release is also available on the Amtran website: www.ata.com.

Important Legal Information

In connection with the merger contemplated by the Agreement and Plan of Merger dated as of June 18, 2001, Amtran filed a definitive proxy statement with the SEC on September 7, 2001. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE MERGER. Investors and security holders may obtain a free copy of the definitive proxy statement and other documents filed with, or furnished to, the SEC by Amtran at the SEC's web site at www.sec.gov. The definitive proxy statement and other documents filed with, or furnished to, the SEC by Amtran may also be obtained for free by directing a request to Mr. Kenneth K. Wolff at [phone].

In connection with the shareholder vote on the merger, Amtran and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the security holders of Amtran in favor of the merger. Information concerning such participants in the solicitation of proxies by Amtran from shareholders in connection with the merger is contained in the press release filed with the SEC under cover of Schedule 14A by Amtran on May 17, 2001. Security holders of Amtran may obtain additional information regarding the interests of such participants by reading the definitive proxy statement.

Caution Concerning Forward-Looking Statements: This communication contains certain "forward-looking statements." These statements are based on Amtran management's current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements contained herein include statements about the merger. The following factors, among others, could cause actual results to differ materially from those described herein: failure of the requisite number of Amtran shareholders to approve the merger; the inability to obtain financing to pay merger consideration; the costs related to the merger; litigation challenging the merger; and other economic, business, competitive and/or regulatory factors affecting Amtran's businesses generally. More detailed information about those factors is set forth in filings made by Amtran with the SEC. Except to the extent required under the federal securities laws, Amtran is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.