November 12, 1998

FOR IMMEDIATE RELEASE

NATIONAL MEDIATION BOARD

RE: Trans World Airlines International Association of Machinists (IAM)

The National Mediation Board confirmed today that negotiations between Trans World Airlines and IAM represented Mechanics & Related Employees, Flight Attendants and Passenger Service Employees will resume on December 1, 1998 under the NMB's supervision. The decision to resume negotiations was made after separate meetings in Washington, D.C. with representatives of TWA and the IAM.

Under the Railway Labor Act, the statute governing labor relations in the airline and railroad industries, the parties remain in mandatory mediation until they reach agreement or the Board determines further mediation efforts would not be productive in reaching an agreement. If the Board determines that further mediation efforts would not be successful, it releases the parties into a 30-day cooling off period. Only after the completion of the 30-day cooling off period may the parties engage in a work stoppage or lockout.

The NMB further indicated failure to reach agreement during this period of negotiations would not automatically trigger the 30-day cooling off period. Rather, absent agreements, the NMB reserves the right to render its judgment on a cooling-off period based on the conduct of both the TWA and the IAM at the bargaining table as well as its assessment of the status of the negotiations.