Investor Update Issue Date: September 10, 2008
This investor update provides information on Continental’s guidance for the third quarter and full year 2008.

Fuel Hedges as of September 10, 2008
Continental has hedged approximately 53% of its projected consolidated fuel requirements for the third quarter
using a combination of collars in NYMEX crude oil and heating oil and an additional 9% using call options in
NYMEX crude oil. The Company estimates its third quarter fuel price per gallon (including fuel taxes and impact
of current hedge positions) will be $3.84.
Continental has hedged approximately 41% of its projected consolidated fuel requirements for the fourth quarter
using a combination of collars in NYMEX crude oil and heating oil and an additional 32% using call options in
NYMEX crude oil. The Company estimates its fourth quarter fuel price per gallon (including fuel taxes and impact
of current hedge positions) will be $3.31.

Zane Rowe is chief financial officer and executive vice president for Continental Airlines Inc., a position he has held since August 2008. In this role, he is responsible for the airline's overall financial operations including corporate finance, treasury, financial planning, tax, accounting, investor relations, fleet, fuel purchasing, internal audit and risk management.