Hello, this is Jane Allen with an Update for Monday, December 29, 2003.

Today I'll share the results of our November operating performance and give you a quick update on Atlantic Coast Airlines. United has released its Monthly Operating Report for November, providing a detailed snapshot of our latest financial results. The report showed that our restructuring remains on track, with continued strong cash flow and a unit revenue improvement that outpaced our competitors. Here's a brief summary. We had strong, positive cash flow of more than $2 million per day in November, despite the seasonal downturn in the market. As a result, we ended the month with a cash balance of about $2.6 billion, which includes restricted and unrestricted funds. We reported net income of $3 million for the month, excluding reorganization expenses and including an $81 million gain from the sale of Hotwire. This was an improvement of more than $500 million from one year ago. With the reorganization expenses factored in, we had a net loss of $75 million for November. We experienced a 14% improvement in mainline passenger unit revenue (which is passenger revenue per available seat mile) from a year ago. This was well ahead of the industry average. Finally, we met the requirements for our Debtor-in-Possession (DIP) financing for the tenth consecutive month and expect to meet them for December as well.

On another topic, United announced its decision last week to end the non-binding Memorandum of Understanding with Mesa Airlines, which was contingent upon Mesa completing its proposed acquisition of ACA, the United Express provider at our Dulles hub. In fact, Mesa has decided not to go forward with its proposed acquisition of Atlantic Coast Airlines. Mesa's decision not to continue with its efforts to acquire ACA has no impact on the business plan we submitted to our lenders or to the ATSB. United remains committed to the Dulles hub and to continuing to provide reliable, high-quality service to United Express customers at Dulles and the spokes cities we serve from there. United now will focus only on other alternatives and will continue to move steadily forward in the best interests of our customers, our employees and our creditors.

Finally, I want to thank all of you for the great job you are doing for our customers over this busy holiday season. With high load factors, and the bustle of the holidays, I know it's a challenging time for you, and I appreciate all of the hard work.

That's all for today. Thanks for listening. Fly safely and take care of our customers and each other.