SEATTLE, Apr 1, 2002 (BUSINESS WIRE) -- The board of directors of Alaska Air Group (NYSE:ALK) today announced it intends to eliminate the company's Shareholder Rights Plan.

"A substantial percentage of Alaska Air Group shareholders, including Providence Capital, have recently told us they prefer that we eliminate the rights plan," said John F. Kelly, chairman of Alaska Air Group. "In response, the board decided to eliminate the plan for now."

In general, corporations institute shareholder rights plans as one means of maximizing value in the event of a hostile takeover. However, some shareholders argue they discourage acquisitions altogether.

Alaska Air Group's shareholder rights plan has been in effect since 1986. The board will eliminate the plan by amending its 2006 expiration date to April 15, 2002.

CONTACT: Alaska Air Group, Seattle Lou Cancelmi, 206/433-3170