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Tower Air Expands Its Fleet of 747 Aircraft.

QUEENS, N.Y.--(BUSINESS WIRE)--Nov. 4, 1997--

Adds two passenger aircraft to fleet and converts another for

cargo service

Tower Air (NASDAQ: TOWR), the U.S. airline operating scheduled domestic and international flights from its base terminal at New York's JFK International Airport, will add two Boeing 747-200 passenger aircraft to its fleet and will retire one of its older Boeing 747-100 passenger aircraft from service in the first quarter of 1998. The airline will also convert one of its existing Boeing 747-200 passenger aircraft for cargo service by the end of the first quarter of 1998.

The two Boeing 747-200 aircraft, leased from GE Capital Aviation Services as part of Tower Air's long-term plan to renew its passenger fleet, are being refurbished to Tower's specifications and will be place in service in January and February 1998. Tower Air's entire fleet consists of Boeing 747s, and each of the two leased aircraft were built in 1980 and 1981 respectively.

By converting one of its passenger aircraft for cargo use, Tower Air will double its cargo capacity. The airline presently operates worldwide cargo service with one B-747 aircraft.

"These fleet enhancements upgrade our international passenger service and significantly increase our cargo capacity," said Morris Nachtomi, chief executive officer of Tower Air. "This is a key part of our long-term strategy to build our airline," he said.

Tower Air, founded in 1982, is one of the busiest carriers at John F. Kennedy International Airport with regular service to Athens, Las Vegas, Los Angeles, Miami, Paris, San Francisco, San Juan, and Tel Aviv. In addition to passenger and cargo flights, the company provides worldwide commercial and military charters.

CONTACT: Tower Air

Ramesh Punwani, 718/553-4366

or

Rubenstein Associates, Inc. -- Public Relations

Gerry Casanova, 212/843-8067
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Publication:Business Wire
Date:Nov 4, 1997
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