Mr. Snyder has more than twenty years of experience leading integrated air and ground transportation companies offering a wide range of services including expedited, same-day, and time-definite delivery of domestic and international shipments. Most recently, Mr. Snyder served as President and CEO of Polar Air Cargo, prior to its sale to Atlas Air Worldwide Holdings. Before that, he was President and CEO of TrafficStation, a leading traffic technology service offered through wireless products. Mr. Snyder's professional experience also includes senior executive positions at Smartship and Corporate Express, and he also worked at Federal Express.

Joe Biggerstaff, Chairman, President and CEO of AirNet Systems Inc., said, "I am pleased to add an executive with Mike's broad industry and systems experience. Mike is recognized for bringing innovation, creativity and focus to businesses that he has led. His history of growing revenue, improving customer satisfaction and building value in a variety of service-driven organizations makes him uniquely qualified to help lead AirNet's airline in developing improved planning and processes that support the long-term profitable growth of our business."

AirNet Systems, Inc. is a premier provider of aviation services including time-critical small package delivery and private passenger charter. AirNet operates AirNet Express, an integrated national air transportation network providing expedited air transportation to banks, medical customers and other time-critical small package shippers in more than 100 cities nationwide. AirNet is committed to safety, security and customer service -- these are the hallmarks of AirNet's success over the past 29 years. AirNet operates more than 120 aircraft, including 40 Learjets, located strategically throughout the United States. AirNet's cargo fleet departs most cities several hours after other major package delivery companies. To find out more, visit AirNet's website at www.airnet.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Except for the historical information contained herein, the matters discussed in this press release include forward-looking statements regarding future events and the future financial performance of the Company. These forward-looking statements include comments on the Company's future growth and operational strategies. These statements involve certain risks and uncertainties that may cause the actual events or results to differ materially from those indicated by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, potential regulatory changes by the Federal Aviation Administration or the Federal Reserve; implementation of the Check Clearing Act of the 21st Century, or similar legislation, which could have an effect on AirNet's cancelled check volumes; potential changes in locally or federally mandated security requirements; acts of war and terrorist activities; adverse weather conditions; the impact of prolonged weakness in the U.S. economy on time-critical shipment volumes; changes in check processing and shipment patterns of bank customers; acceptance of the Company's time-critical service offerings within targeted Express markets and other risks and uncertainties detailed from time to time in the Company's periodic reports to the Securities and Exchange Commission. Please refer to Item 7 of the Annual Report on Form 10-K for the fiscal year ended December 31, 2002 for additional details relating to risk factors that could affect AirNet's results and cause those results to differ materially from those expressed in forward-looking statements.

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