NASDAQ SUSPENDS ATSG DELISTING PROCESS

WILMINGTON, Ohio – Oct. 24, 2008 – Air Transport Services Group (Nasdaq: ATSG) said today that it has receivednotification from The NASDAQ Stock Market LLC that NASDAQ has temporarily suspended the enforcement of itsminimum share price rules because of extraordinary market conditions.

As a result of the suspension, ATSG and all other NASDAQ listed companies now in the share price complianceprocess will remain at that same stage of the process. NASDAQ will not take any action to delist any security for theseconcerns during the suspension period, which will remain in effect through January 16, 2009.

ATSG received a written notification from The NASDAQ Stock Market ("NASDAQ") on September 16, 2008, indicatingthat the minimum bid price of ATSG common stock had fallen below $1.00 for 30 consecutive trading days, and that itwas therefore not in compliance with NASDAQ Marketplace Rule 4405(a)(5). That notice further provided that inaccordance with the NASDAQ Marketplace Rules, the Company will be provided 180 calendar days, or until March 16,2009, to regain compliance with the minimum bid price requirement.

ATSG had 151 calendar days remaining in its compliance period as of October 16, 2008, the effective date ofNASDAQ’s suspension. Upon reinstatement of the rules on January 19, 2009, ATSG will have the same number ofdays remaining, or until June 19, 2009, to regain compliance. The company may regain compliance, either during thesuspension or during the compliance period resuming after the suspension, by achieving a $1 closing bid price for aminimum of 10 consecutive trading days.

About ATSGATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and othercompanies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlineswith separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG also provides aircraft leasing, aircraftmaintenance services, airport ground services, fuel management, specialized transportation management, and aircharter brokerage services. ATSG’s subsidiaries include ABX Air, Inc., Air Transport International, LLC, Capital CargoInternational Airlines, Inc., Cargo Aircraft Management, Inc., and LGSTX Services, Inc.

For more information, contact:
Quint Turner
Chief Financial Officer
Air Transport Services Group, Inc.
937-382-5591