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Effective July 1, 2016, the United Airlines Flight Attendant 401(k) Plan is being updated. While the plan will in many ways be the same as before, there are some important changes including an updated investment menu. There are new features and actions that you can choose to take in regards to your account.

There are a number of key dates to keep in mind as they relate to the upcoming changes in the United Airlines Flight Attendant 401(k) Plan.

During the period between May 16th - June 14th, you will have the opportunity to make investment elections at Fidelity.  It is important that you take this time to understand how the funds in your account will transfer if you do not make an investment election.

A blackout period will apply from June 23- the week of July 3rd.  The blackout period for the plan will begin with restriction on transactions involving United Continental Holdings, Inc. Stock Fund at 4:00PM ET on June 23, 2016.  (This stock fund is closed to new investments.)

All remaining transactions will be restricted at 4:00 PM ET on June 29, 2016.  As of this time you will be unable to direct or diversify the assets held in your Plan account. For this reason, it is critical that you review and consider the appropriateness of your current investments in light of what will be your inability to direct or diversify these investments during the blackout period.

The blackout period is expected to end during the week of July 3, 2016.  You can get information on the status of the opening or closing of the blackout period by calling Fidelity Service Center for United Airlines at (800) 245 9034 (From International locations (508) 787 9902).

As of July 3rd, our updated 401(k) Plan will have a new plan number (90296).  After this date, you must be certain you are selecting this plan if you wish to make changes to your 401(k) plan participation.  At this time and as a new feature, you will be able to access your 401(k) Plan account in one of two ways:

• NetBenefits® at www.401k.com
• Via the Employee Services tab on the company’s website

Calculation of Employer Contributions
As a result of this transition to the new 401(k) Plan, Employer contributions will now be calculated by Fidelity.  Since these will no longer be calculated by payroll, employer contributions will no longer appear on your pay advice, with the exception of those Flight Attendants at international locations who receive their contributions as taxable cash.   Starting the week of July 3^rd, you can view your employer contributions online at Fidelity NetBenefits® at www.401k.com or via the company’s website as described above.

As required by Section 34.B.7.b. of our Contract, the company matching contribution will be made each pay period.

Your Contribution Rate
Your contribution rate on file as of 4:00 PM ET will transfer to your updated 401(k) plan.  Contributions will continue uninterrupted.

Roth In-Plan Conversion
The new plan will provide a new option to potentially reduce future income taxes on money eligible to be withdrawn allowing you to change some of your pre-tax and post-tax dollars into Roth post-tax dollars otherwise known as a Roth In-Plan Conversion.  By using this feature, you can:

• Diversify your retirement assets between Roth and non-Roth accounts.
• Receive potentially federally tax-free earning and withdrawals.

Contact a tax professional for specific advice on your personal situation.

New Contribution Type
The plan will also allow employees to make post-tax contributions.  Post-tax contributions can be made  above the annual 401(k) limit and allow for diversification strategies within the plan.

Beneficiary Designations
Beneficiary designations will transfer to your updated 401(k) plan.  Starting the week of July 3^rd, you are encouraged to go online to confirm that your beneficiary designations are up to date.

Rebalance Services
The 401(k) Auto Rebalance and 401(k) Rebalance Notification service is designed to help you maintain a consistent asset allocation over time.  If you are currently enrolled in this service, your enrollment will NOT carry forward to the updated investment menu. If you are interested in re-establishing this service or to enroll, you may do so by accessing your account during the week of July 3rd.

Additional information is available via the Fidelity Transition and Investment Decision Guide that was mailed to your home address of company record or from Fidelity at 800-245-9034.