Continental Airlines Issues Shares Pursuant to Note Holders' Election to Convert

    HOUSTON, Jan. 31 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE:  
 CAL) today announced that the holders of approximately $170 million
 principal amount of its 4.50% Convertible Notes due Feb. 1, 2007, have
 elected to convert their notes into shares of Continental's common stock.
 The conversion price was $40 per share and, as a result, Continental is
 issuing approximately 4.26 million shares of its common stock to those

SOURCE Continental Airlines

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