Reinhardt & Anderson Announces Notice of Pendency of Securities Fraud Class Action Filed Against America West.

ST. PAUL, Minn.--(BUSINESS WIRE)--April 12, 1999--

Notice is hereby given that a class action complaint was filed in the United States District Court for the District of Arizona on behalf of all persons who purchased the Class B common stock of America West Holdings Corp. (NYSE: AWA); ("Amercia West" or the "Company"), between November 19, 1997, and September 3, 1998, inclusive (the "Class Period").

IF YOU WISH TO DISCUSS THIS CASE OR HAVE ANY QUESTIONS CONCERNING THIS CASE OR YOUR RIGHTS OR INTERESTS, please contact: Randall H. Steinmeyer of Reinhardt & Anderson by telephone at [phone] or [phone], by facsimile at [phone], or by e-mail at [e-mail].

The complaint charges America West and certain officers, directors and controlling shareholders of the Company during the relevant time period with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that by issuing false statements about America West's supposed competitive advantages due to its exceptionally low operating costs, industry-leading aircraft utilization rates, cost savings outsourced aircraft maintenance procedures, improving financial results, record earnings per share together with prospects for continued growth, and using $99 million of the Company's own cash to repurchase 4.8 million shares on the open market, defendants artificially inflated the price of America West stock to an all time high of 31 5/16 on April 21, 1998. It is further alleged that while the price of America West's stock was artificially inflated, the insiders unloaded approximately 97% of their own Amercia West stock in just 90 days!

Plaintiff seeks to recover damages on behalf of class members and is represented by several firms including the law firm of Reinhardt & Anderson. Reinhardt & Anderson devotes its practice to securities, antitrust and consumer class actions and has recovered hundreds of millions of dollars on behalf of defrauded investors and consumers in class actions throughout the United States.