Southern California Logistics Airport and SwissGlobalCargo/Panalpina Establish Vital Transpacific Supply Chain Link Connecting Asia, Europe and South America.

VICTOR VALLEY, Calif.--(BUSINESS WIRE)--Oct. 20, 1999--

SwissGlobalCargo Inaugurates Scheduled Service At Southern

California Logistics Airport

SCLA Establishes U.S. Customs Clearance for International Import

and Export Cargo

Establishing Southern California's second international gateway, Stirling Airports International Wednesday announced the inauguration of scheduled air cargo service at Southern California Logistics Airport (SCLA) with SwissGlobalCargo -- a joint venture of Panalpina, the integrated forwarder and one of the world's leading cargo service providers, and SAirLogistics, the cargo arm of Swissair parent company SAirGroup.

SwissGlobalCargo commences scheduled service at SCLA on Monday, Oct. 25, 1999, with one rotation per week plus charter operations with a 747-200F freighter importing approximately 100 tons of electronic and computer equipment as well as wearing apparel from Hong Kong and South China into the United States.

"Southern California Logistics Airport is the last key connection, allowing SwissGlobalCargo to create a worldwide logistics supply chain," said Michael Schaecher, vice president-Transpacific of SwissGlobalCargo. "The strategic Western United States location combined with the efficiencies of U.S. Customs clearance creates a synergistic combination for better servicing our clients throughout the Western United States."

Schaecher added that the carrier landing at SCLA is on a dedicated course, circling the world every week on its scheduled route. SwissGlobalCargo intends to increase the number of operations at SCLA to accommodate the growing demand in air express heavy cargo. SCLA's lower costs and faster product through-put time allows cargo carriers to better service clients than airports that cater to passengers.

"We are honored that one of the largest air cargo carriers in the world has selected SCLA as its newest destination," said Dougall Agan, principal of Stirling Airports International, the master developer of SCLA. "SwissGlobalCargo's inauguration of international scheduled air cargo service at our facility is a critical step in realizing our vision for a complete multimodal facility incorporating air, rail and ground logistics to service global commerce today and into the 21st century."

Synchronized with the air cargo scheduled service, SCLA has also established a U.S. Customs clearance facility for international import and export cargo. Arrangements have also been made with U.S. Immigration Service, U.S. Department of Agriculture and U.S. Fish and Wildlife to clear cargo. In addition, a Container Freight Station (CFS)/Bonded Warehouse has been established at SCLA. U.S. Customs Service compliments SCLA's other international and domestic pro-business incentives including an 1,800-acre Foreign Trade Zone; the LAMBRA Business Enterprise Zone, which provides a variety of special tax credits to businesses relocating to the former George Air Force Base; as well as a redevelopment project area providing assistance and incentives to manufacturing, distribution and transportation businesses.

About Southern California Logistics Airport (SCLA)

A 5,000-acre complete multimodal business complex, Southern California Logistics Airport (SCLA) integrates manufacturing/industrial and office uses with a dedicated international air cargo airport, rail service and trucking hub. SCLA is taking the leading edge in global commerce by combining real estate and transportation to help businesses reduce production costs and optimize delivery time to market. Logistics capabilities include:

-- Air: Under the management of Stirling Airports International, SCLA is a fully certified part 139 commercial airport. As the second international gateway for Southern California, the airport will relieve the region's increasing demand for international air cargo operations, forecasted to grow from 3.0 to 9.0 million tons per year over the next 20 years (SCAG 1998 Regional Transportation Plan). At completion, Southern California Logistics Airport has a projected capability to handle more than 5.5 million tons of air cargo per year, a major portion of the region's forecasted growth.

-- Rail: SCLA has enlisted Burlington Northern and Santa Fe Railway Company (BNSF), one of the largest rail networks in North America, to provide rail services for manufacturing and distribution companies located at the 5,000-acre intermodal business center over a dedicated rail easement.

-- Third Party Logistics: SCLA has enlisted Redwood Systems, a wholly-owned subsidiary of Consolidated Freightways, to provide SCLA users with freight forwarding and third-party logistics.

-- Real Estate: SCLA recently formed a strategic alliance with ProLogis, the largest publicly-held, U.S.-headquartered, owner and operator of global distribution, light manufacturing and temperature-controlled facilities, to provide build-to-suit industrial development as part of the SCLA masterplanned business complex.

Located in the Victor Valley, approximately three miles off Interstate 15, SCLA is 50 miles northeast of Los Angeles County and 45 minutes north of Ontario Airport (ONT). There are major trucking and rail routes connecting SCLA with major Western States and Mexico markets within 12 hours including: Denver, Las Vegas, Los Angeles, Phoenix, Portland, Salt Lake City, San Diego and the San Francisco Bay Area. Residents of Victor Valley enjoy a low cost of living, Southern California's year-round mild climate, small town atmosphere and a variety of recreational amenities with close proximity to mountain resorts such as Lake Arrowhead and Big Bear as well as Las Vegas and Lake Havasu.

SwissGlobalCargo Background Information

Based in Basel, Switzerland, SwissGlobalCargo is a joint venture company 55 percent owned by Panalpina and 45 percent owned by SAirLogistics, the cargo arm of Swissair parent SAirGroup. SwissGlobalCargo is a registered IATA carrier and air sea broker (ASB). More information about SwissGlobalCargo can be found at www.swissglobalcargo.com.

Stirling Airports International Background Information

Southern California Logistics Airport (SCLA) is managed and operated by Stirling Airports International, a Laguna Hills-based full-service airport development company specializing in master-planning and major land redevelopment. With unmatched experience in airport development and operations, Stirling Airports International is led by partners Dougall Agan, Chris Downey and Richard M. Janisse. Agan and Downey have been responsible for over $2 billion in development activity on large-scale land development projects in Orange and Los Angeles Counties. Janisse is a 25-year veteran of the aviation industry and has held several executive officer positions at American Airlines including president and CEO of AMR Services Corp. and AMR Combs. After leaving American Airlines, Janisse served as president and CEO of World Airways and Martin Aviation Inc.