The agreement, which became

amendable July 1, 2003, will be extended three years from January 1, 2004,

and provides for work rule changes and wage increases. The company anticipates

a thirty-day ratification period once the crewmembers receive details

of the agreement.

Hollis Harris, chairman and

CEO, stated "We've built a strong relationship with our pilots,

and this has been a key component in the success of World Airways. We

were able to reach a fair and equitable agreement that met the needs of

the pilots and supported the financial goals for our company. This is

a testament to the strength of our relationship with our pilots."

Utilizing a well-maintained

fleet of international range, wide body aircraft, World Airways has an

enviable record of safety, reliability and customer service spanning more

than 55 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 businesses

and governments around the globe. For more information, visit the company's

website at www.worldair.com.

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