Insiders have

done virtually no selling for the last three years.

The company

had instituted a salary exchange program, in which employees, including

senior management, took a 10 percent pay cut to support World's restructuring

and rebuilding efforts.

World's board

of directors did not want to disallow employees from receiving some benefit

from the recent stock price increase, especially in light of the pay cuts

and the lack of selling over the last three years.

In order to

ensure that any insider stock sales were handled in an orderly way, the

board of directors requested that directors and executives limit their

sales to no more than 20 percent of their individual holdings. To date,

directors and executives have honored that request, and not all Company

directors and executives have traded shares of World stock during this

period. The company stated that directors, executives and employees are

free to trade shares of World stock until September 16, 2003, the date

that the current trading window will be closed, unless they have any material,

non-public information.

Prior to this

trading period, Harris owned approximately 1.33 million shares of World

Airways stock and stock options. This included 1,062,498 vested stock

options and 269,715 shares of common stock. A Form 144 was filed with

the Securities and Exchange Commission on August 25, 2003, noting Harris'

intent to sell 251,309 shares of World Airways stock. From August 19,

2003, until August 28, 2003, Harris sold 87,309 shares of World Airways

stock ­ a total of less than 7% of his total holdings. He now has

a total of about 1,245,000 shares of company stock and vested options.

Harris announced

today that he will not engage in any further trading of World Airways

stock for this trading period.

"I have

been an active buyer of World Airways stock since I joined the company,"

said Harris. "However, I found it necessary to liquidate some of

my holdings to satisfy some personal obligations. This is the first time

I have sold any of my shares, and I will not engage in any additional

trading of company stock for this trading window. I believe there is strong

up-side potential in our market value, as we continue to expand our current

business base and add new and diverse customers.

"Our position

with regard to the recent trading is that our employees have helped turn

this Company around and gotten us back on track to long-term profitability,"

he continued. "Due to our financial circumstances, we have not been

able to give cost-of-living increases, or make substantial monetary awards.

It is only appropriate for members of senior management to take advantage

of the stock options and holdings they have accumulated over time and

share the benefits of the recent stock price increase."

He added, "It

is important to maintain a balance between supporting employees' periodic

needs to sell their stock and raise cash for their personal needs with

maintaining a strong insider position in the stock.Even factoring in the

recent sales, company insiders hold approximately 19 percent of World

Airways stock."

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