JEFF SMISEK TO =0ABECOME CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF CONTINENTA= L AIRLINES; LARRY =0AKELLNER TO RETURN TO PRIVATE EQUITYAFTER 14 YEARS WITH= THE =0AAIRLINE=0AHOUSTON, =0AJuly 16, 2009 -- Continental Airlines (NYSE:= CAL) announced today that Jeff =0ASmisek, 54, Continental=E2=80=99s presid= ent and chief operating officer and a member of =0Athe board of directors, = will become chairman and chief executive officer, =0Aeffective January 1, 2= 010. Smisek will succeed Larry Kellner, 50, who has =0Adecided to return t= o private equity at year-end after 14 years with Continental, =0Athe last f= ive of them as chairman and CEO. =0A =0A=E2=80=9CIt has been a great hono= r to lead the professional men and women of Continental =0Aand be part of t= he premier airline in the industry,=E2=80=9D Kellner said. =E2=80=9CI have= =0Aworked closely with Jeff throughout my tenure, and he is a strong and e= ffective =0Aleader. I am confident Jeff will maintain Continental=E2=80=99= s unique culture and =0Asuccessfully lead the Continental team through thes= e challenging =0Atimes.=0A=E2=80=9CWhile =0AI will deeply miss my co-worker= s at Continental, it is the right time for this =0Atransition. Continental= has gained approval from DOT of our Star Alliance =0Aapplication, which wi= ll allow us to continue as an effective global competitor,=E2=80=9D =0AKell= ner added.=0A=E2=80=9CThe =0ABoard thanks Larry for his tremendous leadersh= ip of Continental during some of =0Athe most challenging times this industr= y has faced,=E2=80=9D said Henry Meyer, lead =0Adirector for Continental. = =0A =E2=80=9CThe =0ABoard has consistently focused on succession planning, = and Jeff=E2=80=99s experience, =0Askills and long partnership with Larry ma= ke him the ideal executive to succeed =0ALarry as chairman and CEO. We look= forward to working with Jeff as he continues =0AContinental=E2=80=99s indu= stry leadership.=E2=80=9D=0A =E2=80=9CAlthough =0AI am saddened that Larry = has decided to move on, I respect his decision and wish =0Ahim continued su= ccess,=E2=80=9D said Smisek. =E2=80=9COver the next several months, Larry = and I =0Awill work together to ensure a smooth transition. Our entire team= will remain =0Afocused on returning our company to profitability, and Cont= inental=E2=80=99s great =0Aculture will continue to be the driving force of= the company=E2=80=99s long-term =0Asuccess,=E2=80=9D he added. =0AHouston= -based =0Aboard member Pastor Kirbyjon Caldwell noted Kellner=E2=80=99s civ= ic contributions. =0A=E2=80=9CThe Houston community has been blessed with= having Larry as both a leader at =0AContinental and a leader of our commun= ity. Continental has been a tremendous =0Apartner to the Houston community= and we look forward to working with Jeff as he =0Aassumes his new role,=E2= =80=9D said Pastor Caldwell.=0A =0AContinental was named Fortune= magazine=E2=80=99s No. 1 Most Admired Global Airline in =0Aeach year of Ke= llner=E2=80=99s tenure as chairman and CEO. He fostered Continental=E2=80= =99s =0Aworking together culture, while leading the carrier=E2=80=99s expan= sion into London =0AHeathrow, China and India and focusing the company on f= uel efficiency and =0Aenvironmental responsibility.=0AKellner =0Awill head = Emerald Creek Group, LLC, a new private investment firm based in =0AHouston= . =0AJeff =0ASmisek biography=0AJeff =0ASmisek is president and chief ope= rating officer of Continental Airlines and a =0Amember of the Board of Dire= ctors. He is responsible for airline operations, =0Aincluding flight operat= ions, inflight, airports, catering, cargo, maintenance =0Aand technical ope= rations, and also human resources and labor relations, global =0Areal estat= e, security and environmental affairs, corporate communications, =0Afederal= affairs, and international, state and local affairs. Over the course of = =0Ahis tenure at Continental, he has also overseen sales and marketing, tec= hnology =0Aand legal affairs. =0ASmisek =0Ajoined the airline in March 199= 5 as senior vice president and general counsel, =0Aand has since held posit= ions of increasing responsibility. He became president =0Ain December 2004 = and president and chief operating officer in September 2008. =0APrior to j= oining Continental, Smisek was a partner at Vinson & Elkins LLP, =0Awhere h= e specialized in corporate finance and securities =0Alaw.=0ASmisek =0Agradu= ated from Princeton University, A.B. summa cum laude in economics, in 1976,= =0Aand Harvard Law School, J.D. magna cum laude, in 1982. He also serves o= n the =0Aboard of directors of National Oilwell Varco, Inc. Smisek and his = wife reside in =0AHouston and are long-time supporters of numerous charitab= le and civic =0Aorganizations.=0ALarry =0AKellner biography=0AKellner =0Ajo= ined Continental in 1995 as chief financial officer. In May 2001, he was = =0Aelected president of the airline and to the Board of Directors, and in M= arch =0A2003, he was named president and chief operating officer. He became= chairman and =0Achief executive officer in December 2004.=0APrior =0Ato jo= ining Continental, Kellner was executive vice president and chief financial= =0Aofficer of American Savings Bank, owned by The Robert M. Bass Group. Pr= ior to =0Athat, he was executive vice president and chief financial officer= of The Koll =0ACompany, a private real estate investment and construction = =0Afirm.=0AKellner =0Agraduated magna cum laude with a bachelor of science = in business administration =0Afrom the University of South Carolina, where = he served as Student Body =0APresident. In addition, the University of Sou= th Carolina presented him with the =0ADistinguished Alumni Award in 1998. = =0AKellner =0Ais active in numerous community and civic organizations. He c= urrently serves on =0Athe board of directors for Marriott International and= the Air Transport =0AAssociation. On the civic front, he is a member of th= e board of directors for =0Athe Methodist Hospital, YMCA of Greater Houston= , the Greater Houston =0APartnership, the Spring Branch Education Foundatio= n, and Central Houston, Inc., =0Aand is a member of the Boy Scouts of Ameri= ca National Executive Board. Kellner =0Aalso serves on the advisory boards = of the March of Dimes and Teach for America, =0Aand is on the development b= oard of the University of Texas Health Science Center =0Aat Houston. He res= ides in Houston with his wife, Susan, and their four =0Achildren. =0A#= ## <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> If you wish to unsubscribe from the AIRLINE List, please send an E-mail to: "listserv@xxxxxxxxxxxxxxxxx". Within the body of the text, only write the following:"SIGNOFF AIRLINE".