FOR IMMEDIATE RELEASE Contact: Dave Thomas, VP Marketing and Planning

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Great Lakes Airlines To Upgrade Equipment Between Sheridan, Wyoming and Denver, Colorado Beginning March 1, 2004

CHEYENNE, Wyo., February 10, 2004 � Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX.OB � news) today announced that beginning March 1, 2004, it will upgrade its schedule of flights between Denver International Airport and Sheridan, Wyoming, by adding 30 seat EMB-120 Brasilia aircraft to the schedule pattern.  This cabin class aircraft, used to replace one of the three Beech 1900 round trips currently serving the market, offers flight attendants and lavatories for the non-stop trip to and from Denver.

�Great Lakes is happy to announce this service upgrade for our customers in Sheridan,� Charles R. Howell IV, CEO of Great Lakes, commented.  �The growth in traffic we�ve seen between Sheridan and Denver has been steady, and the comments we�ve received regarding the use of larger equipment in the market leads us to believe this increase in capacity will be well received, and will attract more people to enjoy the convenient service and economical fares we offer.�

 All flights in the market are timed to make convenient connections with flights scheduled by United Airlines and Frontier Airlines from Denver.

Sheridan � Denver Flight Schedule (Effective March 1, 2004)

Sheridan to Denver:

Flight 5152  Departs 6:00am Arrives 7:33am Operates Monday-Friday

Flight 5152 Departs 7:20am Arrives 8:53am  Operates Saturday Only

Flight 5152 Departs 8:45am Arrives 10:18am Operates Sunday Only

Flight 5156* Departs 11:35am Arrives 1:00pm Operates Monday-Saturday

Flight 5150 Departs 3:50pm Arrives 5:23pm Operates Daily

Flight 5154 Departs 5:26pm Arrives 6:59pm Operates Sunday Only

Denver � Sheridan Flight Schedule (Effective March 1, 2004)

Denver to Sheridan:

Flight 5156* Departs 9:25am Arrives 10:50am Operates Monday-Saturday

Flight 5153 Departs 1:55pm Arrives 3:31pm  Operates Daily

Flight 5154 Departs 3:40pm Arrives 5:16pm Operates Sunday Only

Flight 5151 Departs 6:05pm Arrives 9:46pm  Operates Saturday Only

Flight 5154 Departs 6:55pm Arrives 8:31pm  Operates Monday-Friday

Flight 5151 Departs 8:15pm Arrives 9:51pm  Operates Sunday Only

* = Will operate in EMB-120 Brasilia Equipment

As of February 1, 2004, Great Lakes is providing scheduled passenger service at 41 airports in eleven states with a fleet of Embraer EMB-120 Brasilia and Raytheon/Beech 1900D Regional Airliners. A total of 194 weekday flights are scheduled at three hubs, with 184 flights at Denver, 4 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 at their Denver hub.

Additional information is available on the company web site that may be accessed at www.greatlakesav.com

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