FLYI Flyi (MM)

Results of FLYi, Inc. Annual Meeting of Stockholders DULLES, Va., June 22 /PRNewswire-FirstCall/ -- FLYi, Inc., parent company of low-fare airline Independence Air (NASDAQ:FLYI), held its Annual Meeting of Stockholders earlier today at the Independence Air Employee Center Auditorium in Dulles, VA. (Logo: http://www.newscom.com/cgi-bin/prnh/20031119/DCW018LOGO-a ) Stockholders overwhelmingly approved each of the items presented for a vote at the meeting. Election of Directors Stockholders re-elected the eight incumbent directors. They include; Kerry B. Skeen, Thomas J. Moore, C. Edward Acker, Robert E. Buchanan, Susan MacGregor Coughlin, Caroline Devine, Daniel L. McGinnis and James C. Miller III. Authorization for the company's Board of Directors to amend the company's fifth restated Certificate of Incorporation to effect a reverse stock split within an approved range. Stockholders granted the Board of Directors discretion to amend the company's certificate of incorporation to effect a reverse stock split. The company wishes to emphasize that the affirmative vote on this proposal does not mean that a reverse stock split is imminent, nor has any specific ratio been determined. Today's approval provides the Board with the sole discretion to elect, based on the Board's determination of the best interests of the company, whether or not to implement a reverse split and, if so, the exact timing of the reverse split and the ratio to be used within the range of one- for-two shares to one-for-ten shares. If and when the Board determines to implement a reverse split, the company will at that time announce its intention, the effective date of the reverse split and the actual ratio to be applied. Ratification of the selection of independent auditors. Stockholders ratified the audit committee's selection of KPMG, LLP to serve as the company's independent auditors for the fiscal year ending December 31, 2005. Independence Air is the low-fare airline that makes travel fast and easy for its customers with a customer-first attitude, innovative thinking and a willingness to challenge the status quo. Independence Air, the "i" logo mark, FLYi.com and Go Your Own Way are service marks of Independence Air, Inc. http://www.newscom.com/cgi-bin/prnh/20031119/DCW018LOGO-a http://photoarchive.ap.org/ DATASOURCE: FLYi, Inc. CONTACT: Rick DeLisi, Director, Corporate Communications of FLYi, Inc., +1-703-650-6019 Web site: http://www.flyi.com/

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