Exhibit 99
For Immediate Release Contact: Rick DeLisi
March 19, 2004 Director, Corporate Communications
Page 1 of 2 (703) 650-6019
Atlantic Coast Airlines Holdings, Inc. Announces
Extension to Option Period for Convertible Notes Offering
Dulles, VA, (March 19, 2004) - Atlantic Coast Airlines
Holdings, Inc. (Nasdaq/NM: ACAI) today announced that it has
extended until April 19, 2004 the date by which the initial
purchaser of Atlantic Coast Airlines Holdings, Inc.'s 6%
Convertible Notes must exercise its option to purchase
additional notes from Atlantic Coast Airlines Holdings, Inc.
On February 18, 2004, Atlantic Coast Airlines Holdings, Inc.
announced that it was offering $125 million of 6% Convertible
Notes due 2034 to qualified institutional buyers pursuant to
Rule 144A under the Securities Act of 1933. The sale of the
notes closed on February 25, 2004. In connection with this
sale, Atlantic Coast Holdings, Inc. granted the initial
purchaser an option to purchase, on or before March 22, 2004,
up to an additional $25 million principal amount of the
Notes. Atlantic Coast Airlines Holdings, Inc. and the initial
purchaser have agreed to extend the option exercise period
through April 19, 2004.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy securities and shall not
constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale is unlawful. The
notes and the common stock issuable upon conversion of the
notes have not been registered under the Securities Act of
1933 or applicable state securities laws and, unless so
registered, may not be offered or sold in the United States
except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state
securities laws.
Atlantic Coast Airlines currently operates as Delta
Connection and United Express in the Eastern and Midwestern
United States as well as Canada. On July 28, 2003, the
company announced plans to establish a new, independent low-
fare airline to be based at Washington Dulles International
Airport-to be called Independence Air. The company has a
fleet of 144 aircraft-including a total of 120 regional
jets-and offers 800 daily departures, serving 80
destinations. ACA employs approximately 4,100 aviation
professionals.
For more information about Atlantic Coast Airlines Holdings,
Inc., please visit our website at atlanticcoast.com. For
more information about Independence Air, please visit our
"preview" site at flyi.com.
(-more-)
Atlantic Coast Airlines Holdings, Inc. Announces Extension to
Option Period for Convertible Notes Offering
Page 2 of 2
Statements in this press release and by Company executives
regarding its implementation of new business strategies, as
well as regarding operations, earnings, revenues and costs,
represent forward-looking information. A number of risks and
uncertainties exist which could cause actual results to
differ materially from these projected results. These risks
and uncertainties are more fully disclosed under "Risk
Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2003. These statements are made as of March 19,
2004 and Atlantic Coast Airlines Holdings, Inc. undertakes no
obligation to update any such forward-looking information,
including as a result of any new information, future events,
changed expectations or otherwise.
# # #