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The registration statement on Form S-3 relating to these securities has been filed with the Securities and Exchange Commission but is not yet effective. Securities described in the registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is not an offer to sell or the solicitation of an 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.

Denver-based Frontier Airlines is the second largest jet service carrier at Denver International Airport with a fleet of 30 aircraft and employing approximately 2,600 aviation professionals. Frontier and its affiliate Frontier JetExpress currently serve 31 U.S. cities with 170 daily flights. In 1999, 2000 and 2001, Frontier's maintenance and engineering department received the Federal Aviation Administration's highest award, the Diamond Certificate of Excellence, in recognition of 100 percent of its maintenance and engineering employees completing advanced aircraft maintenance training programs. In April 2002, Entrepreneur Magazine ranked Frontier one of two "Best Low-Fare Airlines, " and in September 2001, Fortune magazine ranked Frontier 41st on its 100 Fastest Growing Companies list. Frontier provides capacity information and other operating statistics on its Web site, which may be viewed at www.frontierairlines.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained in this press release, which are not historical facts, are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements and certain information contained in this press release involves risks and uncertainties that could result in actual results differing materially from expected results. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: additional incidents that could cause the public to question the safety and/or efficiency of air travel, operational disruptions, industry consolidation, air traffic control-related difficulties, the impact of labor issues, actions of the federal and local governments, enhanced security requirements, changes in the government's policy regarding relief to the airline industry, the stability of the U.S. economy and the economic environment of the airline industry. Forward-looking statements represent the Company's expectations and beliefs concerning future events, based on information available to the Company as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release. Additional information regarding these and other factors may be contained in the Company's SEC filings, including without limitation, the Company's Form 10-Q for the quarter ended Dec. 31, 2001; the Company's Form 10-K for its fiscal year ended March 31, 2001; the Company's Form 8-K filed May 7, 2001 and the Company's Form 8-K filed Jan. 22, 2001, as amended by the Company's Form 8-K/A filed July 11, 2001.