Pilots' Retirement Plans to Land at Schwab

Pilots' Retirement Plans to Land at Schwab
Plans Represent $650 Million in Assets for Continental Pilots 


SAN FRANCISCO, June 17  /PRNewswire-FirstCall/ -- The Air Line Pilots
Association, Int'l, (ALPA) representing the pilots of Continental Airlines
(CAL), has selected Schwab Corporate Services as the service provider for the
pilots' 401(k) plan as well as a new defined contribution plan. The plans cover
5,500 pilots and represent more than $650 million in assets.

"Schwab presented us with the best solutions to help our pilots get to and
through a comfortable retirement. By providing custom education services,
superior investment options, open investment architecture, and a great culture
of service, the Schwab team demonstrated a true understanding of our pilots'
needs," said Capt. Jay Panarello, chairman of the CAL Master Executive Council,
a unit of ALPA.

"We are delighted that the pilots at Continental have placed their trust in
Schwab. We are looking forward to providing the retirement and financial
planning resources they need during their working years and in retirement,"
said Trish Cox, chief operating officer, Schwab Retirement Plan Services.

The existing Pilots' 401(k) Savings and Investment Plan and the new Pilots'
Defined Contribution Plan are scheduled for implementation in September at
Schwab.

About Schwab Corporate Services

Schwab Corporate Services (SCS) provides services to retirement plans,
retirement plan sponsors and participants through Schwab Retirement Plan
Services, Inc. (SRPS), The Charles Schwab Trust Company (CSTC), Schwab
Retirement Technologies(R), and Charles Schwab & Co., Inc. SCS also provides
equity compensation plan services and other financial and retirement services
to corporations and executives. SRPS provides recordkeeping and related
services with respect to retirement plans. CSTC, a California state-chartered
trust company, provides trust and custody services with respect to retirement
and other benefit plans. Schwab Retirement Technologies is engaged in
developing and licensing proprietary retirement plan recordkeeping systems to
independent third party administrators. Charles Schwab & Co., Inc. (Member
SIPC) is a registered broker/dealer, offering the Schwab Personal Choice
Retirement Account(R) (PCRA), as well as other brokerage and custody services
to its customers. These entities are affiliates of each other and are wholly
owned subsidiaries of The Charles Schwab Corporation. Total client assets in
employer-sponsored retirement plans at Schwab equaled $129 billion at the end
of March 2005. The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through
Charles Schwab & Co., Inc. (member SIPC), U.S. Trust Corporation (member FDIC),
CyberTrader(R), Inc. (member SIPC) and its other operating subsidiaries, is one
of the nation's largest financial services firms. (0605-3613). 

DATASOURCE: Charles Schwab



CONTACT:  Mike Peterson of Charles Schwab & Co. Inc., [phone], or

; or Jim Moody of Air Line Pilots Association,

[phone], or 



Web site:  http://www.schwab.com/ 

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