Baltia Air Lines Initiates Trading Under Symbol NQB: BLTA

New York, NY-January 8, 2002-Igor Dmitrowsky, President and CEO of New York- based Baltia Air Lines, Inc., announced today that the company has begun trading under the symbol NQB: BLTA.

This is a very exciting milestone for the Company," Dmitrowsky said. We are actively working to begin flight operations from New York City to St. Petersburg, Russia."

Everyone at Baltia looks forward to building a quality airline carrier that will cater to the US and Russian markets, as well as build value to our shareholders," he added.

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Certain statements contained herein are forward-looking" statements (as such term is defined in the private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to the future results of research and development of the Companys products or services, the ability or inability to replicate test results, the ability to successfully commercialize the Companys products or services, and other risk factors discussed in filings made by the Company with the Securities and Exchange Commission.