Alpine Air Express Posts its Second Quarter 10Q for FY 2005

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, along with its sister company, Alpine
Air Chile, S.A., for the three months ending April 30, 2005, posted
revenues of $4,483,101, of which $4,326,937 consisted of revenue from
operations and $156,164 was derived from public services. This
represents an increase in total revenue of approximately 54% over
revenues of $2,817,691 during the same period in 2004. This increase
in revenue is primarily due to the results of the company's cargo
operations in Hawaii, which generated over $2,715,164 in revenues
during the quarter ended April 30, 2005. Cargo volumes rose over 150%
over the same period last year. During the quarter ended April 30,
2005, we had a net loss of $753,603 with a net loss available to
shareholders of $1,081,103 or ($0.10) per share, versus a net loss of
$263,327, or ($0.02) per share, for the quarter ended April 30, 2004.
This dramatic increase has come from servicing the USPS contract in
Hawaii, which is in the process of being re-bid to better align the
USPS contract fees to the actual volumes being carried.
   Gene Mallette, CEO of Alpine Air, commented: "Our company carried
over 5,955 tons the second quarter in 2005 as compared to 2,357 tons
in the same quarter in 2004. However, the volumes fell short of the
projected volumes provided to the company by the USPS when the company
bid out the contract. This resulted in the need to terminate our
Hawaiian contract with the USPS. Alpine was pleased to be able to bid
on the new contracts and expects to make announcements related to the
new contracts in the near future. Based on the company's recent trend,
we believe that we will return to profitability by the year end."
   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.