ALPE Alpha En corporation (CE)

Alpine Aviation Inc., a subsidiary of Alpine Air Express Inc. (OTCBB: ALPE), and the third largest, by volume, regional cargo airline and transportation logistics company in the United States, with a fleet of 26 airplanes, along with its sister company, Alpine Air Chile, S.A., for the three months ending April 30, 2005, posted revenues of $4,483,101, of which $4,326,937 consisted of revenue from operations and $156,164 was derived from public services. This represents an increase in total revenue of approximately 54% over revenues of $2,817,691 during the same period in 2004. This increase in revenue is primarily due to the results of the company's cargo operations in Hawaii, which generated over $2,715,164 in revenues during the quarter ended April 30, 2005. Cargo volumes rose over 150% over the same period last year. During the quarter ended April 30, 2005, we had a net loss of $753,603 with a net loss available to shareholders of $1,081,103 or ($0.10) per share, versus a net loss of $263,327, or ($0.02) per share, for the quarter ended April 30, 2004. This dramatic increase has come from servicing the USPS contract in Hawaii, which is in the process of being re-bid to better align the USPS contract fees to the actual volumes being carried. Gene Mallette, CEO of Alpine Air, commented: "Our company carried over 5,955 tons the second quarter in 2005 as compared to 2,357 tons in the same quarter in 2004. However, the volumes fell short of the projected volumes provided to the company by the USPS when the company bid out the contract. This resulted in the need to terminate our Hawaiian contract with the USPS. Alpine was pleased to be able to bid on the new contracts and expects to make announcements related to the new contracts in the near future. Based on the company's recent trend, we believe that we will return to profitability by the year end." Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States. The company has an established client base that includes various contract operations and the U.S. Postal Service. Alpine Air provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients. This press release may contain forward-looking statements including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, realization of USPS projected volumes, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.