Targeted Unrestricted Cash and Short Term Investments Balance
Continental anticipates ending the second quarter of 2007 with an unrestricted cash and short-term investments balance of between $3.1 and $3.2 billion.

Cargo, Mail, and Other Revenue
Continental estimates cargo, mail, and other revenue will be between $310 and $320 million for the second quarter 2007.

During 2007, the sublease income Continental receives from ExpressJet for the aircraft covered by the capacity purchase agreement between the Company and ExpressJet will continue to be accounted for as an offset to the Regional Capacity Purchase, net line.  However, the sublease income on the aircraft withdrawn from the capacity purchase agreement that ExpressJet elected to retain will be classified as Other Revenue.  The Company estimates the sublease income from the withdrawn aircraft will be approximately $20 million, $25 million, and $25 million in the second, third, and fourth quarters of 2007, respectively, and is included in the Company's Cargo, Mail, and Other Revenue guidance.

Continental expects its Mainline ASMs for the full year 2007 to be up about 5% year-over-year ("YOY") with Domestic ASMs up about 4.5% YOY and International ASMs up about 6% YOY. The Company expects its full year 2007 Regional ASMs to be down about 4.5% YOY. On a Consolidated basis, Continental expects ASMs for the full year 2007 to be up about 4% YOY with Consolidated Domestic ASMs up about 3% YOY and Consolidated International ASMs up about 6% YOY.

Continental's month-to-date Consolidated load factor is updated daily and can be found on the Financial and Traffic News Releases page under the Investor Relations section of continental.com.

Pension Expense and Contributions
To date, Continental has contributed a total of $136 million to its qualified defined benefit pension plans in 2007. The Company estimates contributions to its qualified defined benefit pension plans will total approximately $320 million during 2007, significantly exceeding the minimum funding requirement of approximately $183 million during the year.

The Company estimates its non-cash pension expense will be approximately $172 million for the year, which includes first quarter non-cash settlement charges of $5 million related to lump-sum distributions from the pilot's frozen defined benefit plan. Similar settlement charges are expected for the remainder of 2007, but currently cannot be estimated.

Profit Sharing
Based on current conditions, the Company's most recently prepared internal forecast for the full year 2007 contains an accrual for profit sharing.  There can be no assurance that the Company's forecast will approximate actual results. Generally, the profit sharing plan provides for a profit sharing pool for eligible employees of 30% of the first $250 million of pre-tax income, 25% of the next $250 million, and 20% thereafter (with certain adjustments to pre-tax income as defined in the profit sharing plan).  Profit sharing expense is accrued each quarter based on the actual cumulative profits earned year to date.  For more information regarding this plan, please see the Company's 2006 Form 10-K.

Stock Based Compensation
Continental expects to record stock option expense of $4 million for the second quarter 2007 and $17 million for the full year 2007.

Continental has granted stock price based restricted stock unit ("RSU") awards and profit based RSU awards (together the "Awards") pursuant to its Long-Term Incentive and RSU Program.  Expense for these Awards is recognized over the vesting period, with changes in the price of the Company's common stock or the payment percentage (which is tied to varying levels of cumulative profit sharing in the case of the profit based RSU Awards), resulting in an increase (or, in the case of a decrease in the Company's stock price, a decrease) in "wages, salaries, and related costs" in the Company's consolidated statements of operations. The closing stock price on May 31, 2007 of $40.17 was used in estimating the expense impact of the Awards for the Company's 2007 cost estimates included herein.  Based on the Company's current assumptions regarding payment percentages and vesting levels of the Awards, the Company estimates that a $1 increase or decrease in the price of its common stock from May 31, 2007 will re sult in an increase or decrease of approximately $3 million in wages, salaries, and related costs attributable to the Awards to be recognized in the second quarter 2007. For more information regarding these Awards, including vesting periods and how the Company accrues for the Awards, please see the Company's 2006 Form 10-K.

Fuel Hedges
As of June 11^th, Continental has hedged approximately 40% of its projected fuel requirements for the second quarter using a combination of zero cost collar contracts and swap contracts. The Company hedged approximately 28% using zero cost collars on heating oil with an average call price of $1.88 per gallon and an average put price of $1.72 per gallon. An additional 2% was hedged using swap contracts in crude oil averaging $66.08 per barrel and 10% in heating oil averaging $1.65 per gallon.

For the third quarter, Continental has hedged approximately 27% of its projected requirements using zero cost collars in heating oil with an average call price of $1.97 per gallon and an average put price of $1.80 per gallon.

For the fourth quarter, Continental has hedged approximately 5% of its projected requirements using zero cost collars in heating oil with an average call price of $2.11 per gallon and an average put price of $1.94 per gallon.

Continental Airlines, Inc. Tax Computation
The Company does not anticipate recording any significant provision for income taxes on any book income in 2007 due to book net operating losses for which it has not previously recognized a tax benefit.  The Company does expect to record minimal tax expense and pay minimal cash taxes in 2007 mainly attributable to the Alternative Minimum Tax and state taxes.  The Company estimates that its effective tax rate will be about 1.5% for the second quarter and full year 2007.

EPS Estimated Share Count
Share count estimates for calculating basic and diluted earnings per share at different income levels are as follows:

Second Quarter 2007 (Millions)