September 26, 2000
Pan American Airways Announces Scheduled Passenger Service to the Lehigh Valley International Airport
Clipper Service Links Philadelphia and New York with Boston and Chicago Regions

Contact:
Dan Fortnam or John Nadolny
(603) 766-2000

Portsmouth, NH: Pan American Airways today announced that they would begin jet service aboard their 727-200 Clipper Class aircraft to Lehigh Valley International Airport in Allentown, Pennsylvania.
The service will begin in mid-November 2000. The new destination will continue Pan Am's successful strategy of providing passengers with convenient and hassle-free service to major metropolitan areas through non-congested airport facilities.

The Pan Am Clipper Class Service will link Lehigh Valley with Boston through Portsmouth, NH, and Chicago through the Gary-Chicago airport. The Lehigh Valley International Airport serves a population base of 2.4 million people who live within 40 miles of the airport. This region includes northern New Jersey and the northern suburban areas of Philadelphia. In addition, center city Philadelphia is within 50 miles and the Newark and New York markets are within a 1 hour 30 minute drive.

Dave Fink, Pan Am's President, said "Pan Am's service to Allentown
and the Philadelphia and New York markets through Lehigh Valley
International Airport will enable us to bring our acclaimed Clipper Class Service to the Philadelphia and New York markets." He added, "Our
strategy is to provide quality and reliable service to non-congested facilities located near metropolitan areas. The Lehigh Valley International Airport is within 60 miles of millions of people - none of whom want congested terminals, cramped aircraft or long delays."

Dan Fortnam, Pan Am's Vice President of Marketing, said: "Our experience in other markets where we have provided travelers with a
metro-convenient alternative to the major congested airports has been very positive." Fortnam added, "Passengers know full well that the extra few minutes drive to the smaller airports is more than regained when they can avoid delays, congestion, and traffic."

Fink stressed, "Our Clipper strategy has been very successful in the Boston, Chicago, Pittsburgh, central Florida, St. Louis, and Bangor markets, and we believe it will rapidly take hold in the Philadelphia and New York Markets."

Pan Am will be using its Clipper Fare strategy for all Lehigh Valley International Airport routes. Pan Am's pricing does not require advance booking or a Saturday night stay, in addition, there is no pricing penalty for one-way tickets.

Fares to Boston-Portsmouth will start at $119.50 each way
Fares To Gary-Chicago will start at $141.00 each way

Reservations and information is available at www.flypanam.com or
1-800-FLYPANAM

Schedule:

Initial scheduled service at Lehigh Valley International Airport will be as follows (all times local):

Lehigh Valley International Airport (Allentown) service with Boston-Portsmouth: Depart Portsmouth-Boston at 7:25 AM and arrive at Allentown at 8:40 AM. Returns will Depart Allentown at 8:15 PM and arrive in Portsmouth-Boston at
9:30 PM.

Lehigh Valley International Airport (Allentown) service with Chicago-Gary: Depart Allentown at 9:10 AM and arrive at Gary-Chicago at 10:00 AM. Return service will depart Gary-Chicago at 4:50 PM and arrive at Allentown at
7:40 PM

In addition to the city pairs outlined above, Lehigh Valley International Airport passengers can connect on Pan Am to St. Louis.

About Clipper Class Service:
An important element of Pan Am's marketing strategy for the Lehigh Valley is the employment of Clipper Class Service. Fortnam detailed Clipper Class, stating, "When we set out to design our service, the challenge was to deliver a premium and enjoyable service at a competitive fare. The way to do that is to operate at underutilized airports and offer genuine service. Clipper Class will be defined by its attention to passenger conveniences, comfort, and avoidance of the hassles associated with airport congestion today." Fortnam added, "Beyond the benefits of non-congested airports, Clipper Class service will feature our reconfigured 727's, which have had the total number of seats reduced from 173 to 149, providing passengers with more space, comfort and increased leg room. Seating will be open ensuring quick boarding and prompt departures. In addition, each flight will have and extra flight attendant for more individualized service."

About Pan Am:
The original Pan Am, founded in the late 1920's by Juan Trippe, set the standard for modern air travel worldwide as the operator of the famous Pan Am Clippers and, later, as the first to fly the Boeing 747.
Along the way, Pan Am's blue globe became one of the most recognized logos in the world.

The owners of New Hampshire-based Guilford Transportation Industries acquired the new Pan Am in June of 1998. The new owners relocated the company's headquarters from Ft. Lauderdale to Portsmouth in December of 1998. At Portsmouth, the company operates a 220,000 square foot maintenance facility, as well as other aviation-related businesses.

Pan Am currently provides scheduled passenger service to Boston
and New England through Portsmouth, NH, Gary/Chicago and Orlando/Sanford, Pittsburgh, Bangor, ME, and Mid America-
St. Louis