Continental Boosts Profit Sharing as Wage Cuts Near Tuesday January 4, 2:24 PM EST HOUSTON (Dow Jones)--Continental Airlines Inc. (CAL) sweetened the terms of its employee profit sharing program, a move that could help offset expected pay cuts, if the airline makes a profit. In a press release Tuesday, Continental said that for the next five years it will share 30% of its first $250 million in pretax income, 25% of the next $250 million, and 20% of pretax income over $500 million. Previously, the company shared 15% of any pretax profits. The airline plans to implement $500 million in annual wage and benefit cuts by Feb. 28, and will start the new profit-sharing program after it meets that goal. Among Continental employees, the profit-sharing pool will be allocated partly based on the severity of the cuts, partly based on wages. Continental has previously said it expects to post a big loss in 2004, and may post a loss in 2005 as well. Continental's New York Stock Exchange-listed shares were down 11.9%, or $1.66, to $12.30 in recent trading on heavy composite-volume of about 3.38 million shares, compared with average daily volume of 1.77 million shares. Company Web site: http://www.continental.com -Ian Salisbury; Dow Jones Newswires; 201-938-5400; AskNewswires@xxxxxxxxxxxx Roger EWROPS