Hello, this is Jane Allen with an Update for Friday, May 6, 2005.

There are a few things I want to talk to you about today. As you know, there are several important hearings before the Bankruptcy Court next week.

As you know, the company and the Pension Benefit Guaranty Corporation or PBGC, reached an agreement several days ago under which the PBGC agreed to take over all of United's defined benefit pension plans. The PBGC agreement is subject to Bankruptcy Court approval and that trial is scheduled to begin on Tuesday, May 10. On Monday, May 9, there will be a short pre-trial conference. There is a chance the hearing could take more than a day. We are hoping for a ruling on Tuesday, but that is not a certainty.

As we've said before, this agreement is one of the most difficult yet significant developments in our bankruptcy to date, and one that is critical to the future of United.

In terms of Section 1113(c) issues, that trial is scheduled to begin on Wednesday, May 11. The trial will focus on the long-term cost savings that the company still needs from AMFA and the IAM.

In the meantime, we are still continuing to attempt to reach consensual agreements with the IAM and AMFA regarding long-term cost savings ahead of that hearing. Talks have been occurring this week and will continue.

You may have seen statements in the media this week from AMFA, the IAM and from the AFA, threatening to take strike action if their pension plans are taken over by the PBGC and replaced with defined contribution plans, or if their contracts are set aside.

We believe both the Railway Labor Act and the Bankruptcy Code prohibit a strike by our union groups, including the CHAOS activities that the AFA has discussed. We are prepared to move quickly in court to stop any strike action in the event that is necessary.

We have gotten through a lot of difficult issues in the course of this bankruptcy by working together. We've kept the focus on our customers and each other.

That focus is more important than ever. We have to continue to work together to find solutions to some of the most complex and difficult issues that impact everyone so personally in this restructuring.

We're very close to the conclusion of our restructuring and our exit from bankruptcy is within sight. All of you, and everyone in the Onboard Division, have done extraordinary work during the last two and a half years. Operationally, we're running the best airline in the history of the company.

A lot of people will share in the success of United - the people who work here and their families, the many vendors that support our operation, and the customers who depend on us for their travel needs.

I believe that the vast majority of you recognize that any action to disrupt our business does nothing but punish our customers and every one of us. We will only succeed by remaining focused on the work that's left to do, and continuing our extraordinary progress together. Thanks for your hard work and focus in these difficult times.

That's all for today. Fly safely and I'll talk with you again next week.