To: DebtBomb who wrote (17223 ) 9/20/2001 11:58:22 AM From: 2MAR$ Respond to of 208838 World Airways Announces $175 Million Air Force Contract PEACHTREE CITY, Ga., Sept. 20 /PRNewswire/ -- World Airways, Inc. (Nasdaq: WLDA) today announced that the Air Force's Air Mobility Command (AMC) has approved its airlift contract for FY 2002, with the Company's contract valued at $175 million. This includes fixed flying valued at $112 million, as well as expansion flying at $60 million and cargo flying at $3 million. Last year's contract was valued at $127 million, but did not include the expansion flying incorporated into this year's contract. This is the first time that the Air Mobility Command has incorporated ex- pansion flying into the contract, and this allows World Airways to preplan and utilize its aircraft fleet and crews more efficiently. This year's contract is comprised of three distinct categories of flying: the passenger annual scheduled charter service, military force rotation and annual exercises, and a new category for World Airways, AMC cargo. World Airways also will receive additional expansion business during the FY 2002 contract period for less pre- dictable flying and other short notice requirements. The AMC contract for FY 2002 will begin on October 1, 2001. According to Hollis L. Harris, World Airways' chairman and CEO, "We had indicated that this year's AMC award should be at least as high as the FY 2001 contract, and we're very pleased with the FY 2002 award. We take a great deal of pride in supporting the air transportation needs of the Air Force, a rela- tionship we have maintained since 1956. We look forward to continuing to pro- vide support to our nation's military operations and serving the men and women of our armed forces for years to come." Utilizing a well-maintained fleet of international range, wide-body air- craft, World Airways has an enviable track record of safety, reliability and customer service spanning 53 years. The Company is a U.S. certificated air carrier providing customized transportation services for major international passenger and cargo carriers, the United States military and international leisure tour operators. Recognized for its modern aircraft, flexibility and ability to provide superior service, World Airways meets the needs of busi- nesses and governments around the globe. "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties including, but not limited to, the impact of competi- tion in the market for air transportation services, the cyclical nature of the air carrier business, reliance on key marketing relationships, fluctuations in operating results and other risks detailed from time to time in the Company's periodic reports filed with the SEC (which reports are available from the Com- pany upon request). These various risks and uncertainties may cause the Com- pany's actual results to differ materially from those expressed in any of the forward looking statements made by, or on behalf of, the Company in this re-