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CONTINENTAL AIRLINES FILES EIGHT-MILLION SHARE COMMON STOCK OFFERING

 HOUSTON, Sept. 16 /PRNewswire/ -- Continental Airlines, Inc. today filed a registration statement with the Securities and Exchange Commission for an offering of approximately 8,000,000 newly issued shares of the company's class B common stock. The company also expects to include in the offering a portion of the shares previously distributed to certain creditors as part of the company's reorganization earlier this year. Air Partners, L.P. and Air Canada, the company's principal stockholders, will not sell any shares in the offering.
 The underwriting syndicate is being co-managed by Merrill Lynch & Co., CS First Boston, Kidder, Peabody & Co. Incorporated, Lehman Brothers and Smith Barney Shearson Inc. Continental plans to add the net proceeds from the offering to general corporate funds.
 The company operates its domestic route system primarily through hubs in Newark, Houston, Cleveland and Denver and, in the fall of 1993, is initiating new direct flights not integrated with its hub operations. Internationally, Continental flies to five destinations in Europe and offers additional connecting service through alliances with foreign carriers. Continental is one of the leading airlines providing service to Mexico and Central America, serving more destinations there than any other U.S. airline. The company's 91 percent-owned subsidiary Continental Micronesia, Inc. provides extensive service in the Western Pacific. The company's wholly owned subsidiary System One Information Management, Inc. operates a travel agency computerized reservation system (CRS).
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. This news release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A prospectus relating to the offering may be obtained, when available, from any of the co-managers.
 -0- 9/16/93
 /CONTACT: Continental Airlines Corporate Communications, 713-834-5080/


CO: Continental Airlines, Inc. ST: Texas IN: AIR SU: OFR

SM -- NY015 -- 2571 09/16/93 09:23 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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