Alpine Air Express Held Its Annual Shareholders' Meeting

-Alpine Aviation Inc., a subsidiary of Alpine Air
Express Inc. (OTCBB: ALPE), and the third largest, by volume, regional
cargo airline and transportation logistics company in the United
States, with a fleet of 26 airplanes, announces the election of Joe
Etchart as its new board chairman. Etchart, having been a member of
Alpine Air's board for several years, replaces Gene Mallette. Mallette
will remain as the company's chief executive officer.
   Etchart has enjoyed a distinguished career as a Montana
businessman where he has served as a member of the board of directors
of Montana Livestock Ag Credit Inc. since 1984, and twice served as
its chairman. Etchart also served a term as president of the National
Public Lands Council and successfully completed a term as chairman of
the Western Livestock Producers Alliance.
   Etchart has served in numerous civic, political and appointed
posts in the state of Montana, where he has earned the respect of his
professional colleagues and elected officials. Etchart had the
distinction of chairing the finance committee for Montana Gov. Marc
Racicot's first electoral victory.
   In addition to the election of Etchart as board chairman, the
shareholders re-elected the current directors and ratified the
company's independent public accounting firm, Pritchett, Siler and
Hardy. Mallette commented on several key areas. Mallette described an
ongoing operational program, which is providing guidance for Alpine's
return to profitability during the current quarter. Additionally,
Mallette marked the commencement of flight operations for the U.S.
Postal Service related to the Hawaiian contract. The new contract
successfully began service on April 24, 2004, with routes throughout
the Hawaiian Islands. Although there has been significant success in
increasing revenue and volume, it became clear that cargo fell short
of the expected volume numbers provided by the U.S. Postal Service at
the time of the contract bidding process.
   Mallette added, "Alpine Aviation Inc. provides air cargo
transportation services in the United States in Hawaii, Montana,
Texas, and North and South Dakota. We also operated a limited
passenger service in Chile until this year. At the end of April 2004,
we began operating in Hawaii after receiving the contract awarded
there by the U.S. Postal Service ("USPS"). While the USPS is our
primary customer, we have begun offering package delivery services for
local businesses between the islands in Hawaii. During the course of
2004, our company undertook several strategies to diversify its client
base, pursue and secure new contracts, both in Hawaii and the domestic
mainland, reduce our cost of operation, and vigorously return the
company to its strongest revenue year, with profitability expected to
return later in 2005."
   Mallette continued, "Despite challenges with increasing fuel
costs, we continue to rely on our experienced staff of flight crew and
operations personnel to provide significant business from our first
officer programs, and our aircraft service center. We look forward to
2005 to forge new relationships with operational carriers and the
investment banking community in an effort to pursue our growth
strategy."
   Further, Mallette was not able to comment on the status of
negotiations the company has under way related to acquisition
financing. Mallette noted, "We look to 2005 to redefine Alpine Air,
and its role as the nation's third largest all-cargo regional air
carrier. We are working to take advantage of the tough air cargo
market by possibly acquiring or forging new relationships with new
companies and new routes during the next three to five years, which
could propel our company to a new level of operation."
   Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine
Air Express Inc., provides competitively priced scheduled air cargo
flights throughout the western and southwestern United States. The
company has an established client base that includes various contract
operations and the U.S. Postal Service. Alpine Air provides superior
"on-time" performance and reliability, together with the flexibility
to adapt quickly to the growing frequency and capacity requirements of
its clients.

   This press release may contain forward-looking statements
including the company's beliefs about its business prospects and
future results of operations. These statements involve risks and
uncertainties. Among the important additional factors that could cause
actual results to differ materially from those forward-looking
statements are risks associated with the overall economic environment,
realization of USPS-projected volumes, changes in anticipated
earnings of the company and other factors detailed in the company's
filings with the SEC. In addition, the factors underlying company
forecasts are dynamic and subject to change and therefore those
forecasts speak only as of the date they are given. The company does
not undertake to update them; however, it may choose from time to time
to update them and if it should do so, it will disseminate the updates
to the investing public.