Great Lakes Airlines to Add Fifth Nonstop Flight Between Waterloo

Great Lakes Airlines to Add Fifth Nonstop Flight Between Waterloo, Iowa And Chicago, Illinois Beginning October 1, 2002

CHEYENNE, Wyo., Sept. 16 Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX) today announced that beginning October 1, 2002, a fifth weekday flight will be added between Waterloo, Iowa and Chicago O'Hare International Airport. Service will also be increased on weekends to a total of three round trips on Saturdays and four round trips on Sundays. All flights between Waterloo and Chicago operate nonstop.

"Great Lakes began service between Waterloo and Chicago in September 1987. We appreciate the community support during the last fifteen years," said Doug Voss, President. "We believe the quality of this new schedule will offer the community additional connections both domestically and internationally."

The new flight will depart Waterloo at 7:45am and arrive Chicago at 8:50am and the additional return flight will depart Chicago at 5:55pm and arrive Waterloo at 7:06pm daily. In addition, some of the existing flights in each direction have been retimed to offer more convenient travel times for passengers. All flights are timed to make convenient connections with flights scheduled by Untied Airlines to/from Chicago.

        Waterloo - Chicago Flight Schedule (Effective October 1, 2002)
     Waterloo to Chicago:
     Flight 5196  Departs 6:00am   Arrives 7:05am   Operates Monday-Friday
     Flight 5184  Departs 7:45am   Arrives 8:50am   Operates Daily
     Flight 5194  Departs 9:50am   Arrives 10:55am  Operates Monday-Saturday
     Flight 5194  Departs 11:30am  Arrives 12:35pm  Operates Sundays
     Flight 5192  Departs 1:47pm   Arrives 2:52pm   Operates Sunday-Friday
     Flight 5198  Departs 4:00pm   Arrives 5:05pm   Operates Saturdays
     Flight 5198  Departs 5:00pm   Arrives 6:05pm   Operates Sunday-Friday
        Chicago - Waterloo Flight Schedule (Effective October 1, 2002)
     Chicago to Waterloo:
     Flight 5195  Departs 8:26am   Arrives 9:36am   Operates Monday-Friday
     Flight 5195  Departs 10:10am  Arrives 11:20am  Operates Sundays
     Flight 5193  Departs 12:15pm  Arrives 1:25pm   Operates Monday-Saturday
     Flight 5199  Departs 1:35pm   Arrives 2:45pm   Operates Saturdays
     Flight 5199  Departs 3:32pm   Arrives 4:42pm   Operates Sunday-Friday
     Flight 5183  Departs 5:55pm   Arrives 7:05pm   Operates Daily
     Flight 5197  Departs 7:48pm   Arrives 8:58pm   Operates Sunday-Friday

As of September 5, 2002, scheduled passenger service was being provided at 48 airports in fifteen states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 220 weekday flights are scheduled at four hubs, with 176 flights at Denver, 24 flights at Chicago -- O'Hare International Airport, 14 flights at Minneapolis/St. Paul, and 6 flights at Phoenix. All scheduled flights are operated under the Great Lakes Airlines marketing identity in conjunction with code-share agreements with United Airlines and Frontier Airlines.