Copa Airlines and Continental Airlines Resume Codeshare Flights on 11 Routes.

PANAMA CITY, Panama -- Copa Airlines and its U.S. partner Continental Airlines (NYSE:CAL) have announced the resumption of Continental codeshare service on 11 Copa routes effective July 10. Continental will place its code (CO*) on Copa flights between Panama City, Panama and the following cities:

--  Guatemala City, Guatemala --  Orlando, Fla.
--  Kingston, Jamaica(a)      --  San Jose, Costa Rica(a)
--  Lima, Peru(a)             --  San Juan, Puerto Rico
--  Los Angeles, Calif.       --  Santiago, Chile(a)
--  Managua, Nicaragua        --  Santo Domingo, Dominican Republic(a)
--  Miami, Fla.

(a) Codeshare service pending foreign government approval

"Copa Airlines welcomes the resumption of Continental codesharing on our flights," said Jorge Garcia Icaza, Commercial Vice President, Copa Airlines. "This action further solidifies the Continental-Copa partnership as the most dynamic alliance in the Americas and enhances the efficiency and convenience of Copa's Hub of the Americas in Panama as the premier place to connect when traveling throughout the Americas."

Copa and Continental share a strategic alliance partnership that includes joint participation in Continental's award-winning frequent flyer program, OnePass. Members of the program may earn miles on either Copa or Continental operated flights, as well as redeem miles for tickets, upgrades, and merchandise.

"Continental is pleased to build further upon our highly successful partnership by codesharing again on Copa flights to/from Copa's hub at Panama City, Panama," said David Grizzle, Continental's Senior Vice President, Marketing Strategy and Corporate Development. "Together with Continental's already extensive Latin route network, this new codeshare service will provide our customers with more travel options to Panama and convenient connecting opportunities to destinations throughout Central, South America and the Caribbean."

Copa Airlines (www.copaair.com) began service in 1947. Today the airline flies to 31 destinations in 20 countries in North, Central and South America and the Caribbean from its Hub of the Americas at Tocumen International Airport in Panama City, Panama, one of the most efficient and successful hubs in Latin America. In addition, Copa offers flights to 120 other international destinations through codeshare agreements with Continental and Mexicana. Copa has one of the best on-time performance records in the industry. In 1st quarter 2004, the airline reported an on-time arrival record of 95.6 percent. In April, Copa was named Best Airline in Central America, Mexico and the Caribbean by SkyTrax, an English market-survey company that conducts the World Airline Survey, the largest airline passenger survey in existence. In June, Copa was named one of the 25 Best Employers in Latin America in a survey conducted by Hewitt Associates for America Economia Magazine. For more company information, visit www.copaair.com.

Copa Airlines offers nonstop service to Panama City from four U.S. cities: daily from New York city, twice daily from Miami, daily from Los Angeles, and four times a week from Orlando.

Continental Airlines is the world's sixth-largest airline with more than 2,900 daily departures throughout the Americas, Europe and Asia. Continental serves 149 domestic and 119 international destinations -- more than any other airline in the world -- and nearly 200 additional points are served via codeshare partner airlines. With 41,000 mainline employees, the airline has hubs serving New York, Houston, Cleveland and Guam, and carries approximately 51 million passengers per year. In 2004, Continental has earned awards and critical acclaim for both its operation and its corporate culture. FORTUNE ranks Continental one of the 100 Best Companies to Work For in America, an honor it has earned for six consecutive years, and also ranks Continental as the top airline in its Most Admired Global Companies in 2004. The carrier won major awards at the 2004 OAG Airline of the Year Awards including "Airline of the Year," "Best Airline Based in North America" and "Best Executive/Business Class." For more company information, visit www.continental.com.