L-Air Holding Inc. Announces Flight Program for French Airline.

Business Editors

TORONTO--(BUSINESS WIRE)--Dec. 2, 2002

L-Air Holding Inc., (The Company) (OTCBB: LAIR) announces today that L-Air, the French Airline based in Lyon, France, will open to the public its secured reservation site ( www.L-Air.com) at 1pm Eastern Standard time and that customers will then be able to reserve flights to the first three destinations commencing December 16th 2002.

These destinations include St. Marteen, Pointe a Pitre and Fort de France in the French Caribbean Islands.

The Company will be operational very soon with more destinations such as Punta Cana, Dominican republic, as well as the Reunion Island in the Indian Ocean, and before the summer 2003, L-Air hopes to operate flights between Toronto, Montreal and Paris, and is looking to have continuing flights to India once all the flying rights and licenses will be cleared for these destinations.

Jean Marie GRAS, the President of L-Air said: " We are all very excited to be able to offer for the winter holidays flights to the Caribbean, and I thank all the staff, Pilots and engineers that have contributed very hard in ensuring the Aircraft will be technically ready for the first flight". He further stated " We anticipate a very strong interest in our flights from the public, since there has been a very high demand on such destinations with very low availability from Air France and Air Lib."

This week also, a nationwide advertising Campaign worth over $500.000 will commence in all major French cities to introduce L-Air to the public. It is anticipated that over 12.000.000 people will be concerned with this campaign and every step has been taken to ensure a prompt response to all enquiries made through the call center in Lyon.

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. For a summary of such risks and uncertainties, see the Company's periodic reports and other filings with the Securities and Exchange Commission.