August 23, 2007 08:30 ET

WestJet States It Has No Holdings of Asset-Backed Commercial Paper Products

CALGARY, ALBERTA--(Marketwire - Aug. 23, 2007) - In light of concerns regarding the disruption of asset-backed commercial paper (ABCP) products and in response to questions posed by the investment community, WestJet is providing the following insight on the status of its short-term investments.

WestJet's position in short-term money market investments as of August 22, 2007 was in excess of $500 million, entirely held in interest-bearing bank investments. WestJet has no exposure to the asset-backed commercial products that have been an area of concern for the investment community in recent weeks.

About WestJet

WestJet is Canada's leading low-fare airline offering scheduled service throughout its 38-city North American and Caribbean network. Named Canada's most admired corporate culture in 2005 and 2006, WestJet pioneered low-cost high-value flying in Canada. With increased legroom and leather seats on its modern fleet of Boeing Next-Generation 737 aircraft, and live seatback television provided by Bell ExpressVu on the majority of its fleet, WestJet strives to be the number one choice for travellers.

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