Document:

DEPOSIT AGREEMENT
                                    (Class B)

                           Dated as of March 15, 2000

                                     between

                  FIRST SECURITY BANK, NATIONAL ASSOCIATION

                                 as Escrow Agent

                                       and

                 CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH

                                  as Depositary

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                                TABLE OF CONTENTS

                                                                           PAGE

SECTION 1.1    Acceptance of Depositary......................................2

SECTION 1.2    Establishment of Accounts.....................................2

SECTION 2.1    Deposits......................................................2

SECTION 2.2    Interest......................................................2

SECTION 2.3    Withdrawals...................................................3

SECTION 2.4    Other Accounts................................................3

SECTION 3.     Termination...................................................4

SECTION 4.     Payments......................................................4

SECTION 5.     Representation and Warranties.................................4

SECTION 6.     Transfer......................................................5

SECTION 7.     Amendment, Etc................................................6

SECTION 8.     Notices.......................................................6

SECTION 9.     Obligations Unconditional.....................................6

SECTION 10.    Entire Agreement..............................................6

SECTION 11.    Governing Law.................................................7

SECTION 12.    Waiver of Jury Trial Right....................................7

SECTION 13.    Counterparts..................................................7

SECTION 14.    Head Office Obligation........................................7

<PAGE>

            DEPOSIT  AGREEMENT (Class B) dated as of March 15, 2000 (as amended,
modified or  supplemented  from time to time,  this  "AGREEMENT")  between FIRST
SECURITY BANK, NATIONAL ASSOCIATION,  a national banking association,  as Escrow
Agent  under the Escrow and Paying  Agent  Agreement  referred to below (in such
capacity,  together with its successors in such capacity,  the "ESCROW  AGENT"),
and CREDIT SUISSE FIRST BOSTON, a banking  institution  organized under the laws
of  Switzerland,  acting  through its New York branch,  as depositary  bank (the
"DEPOSITARY").

                               W I T N E S S E T H
                               - - - - - - - - - -

            WHEREAS,  Continental Airlines, Inc.  ("CONTINENTAL") and Wilmington
Trust Company,  not in its  individual  capacity  except as otherwise  expressly
provided  therein,  but solely as trustee (in such  capacity,  together with its
successors in such  capacity,  the "PASS THROUGH  TRUSTEE")  have entered into a
Trust  Supplement,  dated as of  March  15,  2000,  to the  Pass  Through  Trust
Agreement  dated as of September  25, 1997  (together,  as amended,  modified or
supplemented  from time to time in accordance with the terms thereof,  the "PASS
THROUGH TRUST  AGREEMENT")  relating to Continental  Airlines Pass Through Trust
2000-1B-O pursuant to which the Continental  Airlines Pass Through Trust, Series
2000-1B-O Certificates referred to therein (the "CERTIFICATES") are being issued
(the date of such issuance, the "ISSUANCE DATE");

            WHEREAS,  Continental  and Credit  Suisse First Boston  Corporation,
Morgan Stanley & Co. Incorporated, Chase Securities Inc., Merrill Lynch, Pierce,
Fenner & Smith  Incorporated  and Salomon Smith Barney Inc.  (collectively,  the
"UNDERWRITERS"  and,  together with their respective  transferees and assigns as
registered  owners of the  Certificates,  the "INVESTORS")  have entered into an
Underwriting  Agreement  dated as of March 1,  2000  pursuant  to which the Pass
Through Trustee will issue and sell the Certificates to the Underwriters;

            WHEREAS,  Continental,  the Pass Through Trustee, certain other pass
through  trustees and certain other persons  concurrently  herewith are entering
into the  Note  Purchase  Agreement,  dated as of the  date  hereof  (the  "NOTE
PURCHASE  AGREEMENT"),  pursuant to which the Pass Through Trustee has agreed to
acquire from time to time on or prior to the Delivery  Period  Termination  Date
(as defined in the Note  Purchase  Agreement)  equipment  notes (the  "EQUIPMENT
NOTES") issued to finance the acquisition of aircraft by Continental,  as lessee
or as  owner,  utilizing  a  portion  of  the  proceeds  from  the  sale  of the
Certificates (the "NET PROCEEDS");

            WHEREAS,  the  Escrow  Agent,  the  Underwriters,  the Pass  Through
Trustee and Wilmington  Trust Company,  as paying agent for the Escrow Agent (in
such  capacity,  together  with its  successors  in such  capacity,  the "PAYING
AGENT")  concurrently  herewith  are  entering  into an Escrow and Paying  Agent
Agreement,  dated as of the date hereof (as  amended,  modified or  supplemented
from time to time in accordance  with the terms thereof,  the "ESCROW AND PAYING
AGENT AGREEMENT"); and

            WHEREAS,  the  Underwriters and the Pass Through Trustee intend that
the Net Proceeds  (excluding any amount used to purchase  Equipment Notes on the
Issuance  Date) be held in escrow by the Escrow Agent on behalf of the Investors

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pursuant to the Escrow and Paying Agent  Agreement,  subject to withdrawal  upon
request of and proper  certification by the Pass Through Trustee for the purpose
of purchasing Equipment Notes, and that pending such withdrawal the Net Proceeds
be deposited by the Escrow Agent with the Depositary pursuant to this Agreement,
which  provides  for the  Depositary  to pay interest  for  distribution  to the
Investors  and to  establish  accounts  from which the Escrow  Agent  shall make
withdrawals  upon  request  of and  proper  certification  by the  Pass  Through
Trustee.

            NOW,  THEREFORE,  in  consideration  of  the  obligations  contained
herein,  and  for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which is hereby acknowledged,  the parties hereto hereby agree as
follows:

            SECTION 1.1 ACCEPTANCE OF DEPOSITARY.  The Depositary  hereby agrees
to act as  depositary  bank as provided  herein and in  connection  therewith to
accept all amounts to be delivered to or held by the Depositary  pursuant to the
terms of this  Agreement.  The Depositary  further agrees to hold,  maintain and
safeguard  the Deposits and the Accounts (as defined  below)  during the term of
this Agreement in accordance with the provisions of this  Agreement.  The Escrow
Agent shall not have any right to withdraw,  assign or otherwise transfer moneys
held in the Accounts except as permitted by this Agreement.

            SECTION 1.2  ESTABLISHMENT  OF  ACCOUNTS.  The Escrow  Agent  hereby
instructs the Depositary,  and the Depositary  agrees, to establish the separate
deposit  accounts  listed on Schedule I hereto and to establish such  additional
separate  deposit  accounts as may be required in  connection  with the deposits
contemplated  by Section 2.4 hereof (each,  an "ACCOUNT" and  collectively,  the
"ACCOUNTS"),  each in the name of the  Escrow  Agent  and all on the  terms  and
conditions set forth in this Agreement.

            SECTION 2.1 DEPOSITS. The Escrow Agent shall direct the Underwriters
to deposit  with the  Depositary  on the date of this  Agreement  (the  "DEPOSIT
DATE") in Federal (same day) funds by official  check or checks or wire or other
transfer to: Credit Suisse First Boston, New York branch, Reference: Continental
2000-1B, and the Depositary shall accept from the Underwriters, on behalf of the
Escrow Agent, the sum of US$113,149,000  (or such lesser amount equal to the Net
Proceeds  less amounts used to purchase  Equipment  Notes on the Issuance  Date.
Upon  acceptance of such sum, the  Depositary  shall (i)  establish  each of the
deposits  specified in Schedule I hereto maturing on October 31, 2001 (including
any deposit made pursuant to Section 2.4 hereof,  individually, a "DEPOSIT" and,
collectively,  the  "DEPOSITS")  and (ii)  credit  each  Deposit to the  related
Account as set forth therein.  No amount shall be deposited in any Account other
than the related Deposit.

            SECTION 2.2  INTEREST.  Each Deposit  shall bear  interest  from and
including  the date of deposit to but  excluding  the date of  withdrawal at the
rate of 8.388%  per  annum  (computed  on the  basis of a year of twelve  30-day
months) payable to the Paying Agent on behalf of the Escrow Agent  semi-annually
in arrears on each May 1 and  November 1  commencing  on May 1, 2000  (each,  an
"INTEREST  PAYMENT DATE"),  and on the date of the Final  Withdrawal (as defined
below),  all in accordance with the terms of this Agreement  (whether or not any
such Deposit is withdrawn on an Interest Payment Date).  Interest accrued on any
Deposit  that is  withdrawn  pursuant  to a Notice of  Purchase  Withdrawal  (as

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defined below) shall be paid on the next Interest Payment Date,  notwithstanding
any intervening Final Withdrawal (as defined below).

            SECTION 2.3 WITHDRAWALS.  (a) On and after the date seven days after
the  establishment  of any Deposit,  the Escrow Agent may, by providing at least
one Business  Day's prior notice of withdrawal to the  Depositary in the form of
Exhibit A hereto (a "NOTICE OF PURCHASE WITHDRAWAL"), withdraw not less than the
entire  balance  of such  Deposit,  except  that at any time prior to the actual
withdrawal of such Deposit, the Escrow Agent or the Pass Through Trustee may, by
notice to the  Depositary,  cancel such  withdrawal  (including on the scheduled
date  therefor),  and thereafter such Deposit shall continue to be maintained by
the Depositary in accordance  with the original  terms  thereof.  Following such
withdrawal  the balance in the related  Account shall be zero and the Depositary
shall close such Account.  As used herein,  "BUSINESS  DAY" means any day, other
than a Saturday, Sunday or other day on which commercial banks are authorized or
required  by law to close in New York,  New York,  Houston,  Texas,  Wilmington,
Delaware or Salt Lake City, Utah.

            (b)   The  Escrow  Agent may, by  providing  at least 15 days' prior
notice  of  withdrawal  to the  Depositary  in the form of  Exhibit  B hereto (a
"NOTICE  OF  FINAL  WITHDRAWAL"),  withdraw  the  entire  amount  of  all of the
remaining  Deposits  together with the payment by the  Depositary of all accrued
and unpaid  interest on such Deposits to but  excluding  the  specified  date of
withdrawal  (a "FINAL  WITHDRAWAL"),  on such date as shall be specified in such
Notice of Final  Withdrawal.  If a Notice of Final Withdrawal has not been given
to the Depositary on or before October 8, 2001 (provided that, if a labor strike
occurs or continues at The Boeing  Company  after the Issuance Date and prior to
September  30,  2001 (a "LABOR  STRIKE"),  such date shall be extended by adding
thereto  the  number of days  that such  strike  continued  in effect  after the
Issuance Date (the "ADDITIONAL DAYS") and there are unwithdrawn Deposits on such
date, the Depositary  shall pay the amount of the Final Withdrawal to the Paying
Agent on October 31, 2001  (provided that if a Labor Strike occurs or continues,
such date shall be extended by the Additional Days).

            (c)   If the Depositary receives a duly completed Notice of Purchase
Withdrawal or Notice of Final  Withdrawal  complying with the provisions of this
Agreement,  it shall make the payments  specified therein in accordance with the
provisions of this Agreement.

            SECTION 2.4 OTHER ACCOUNTS. On the date of withdrawal of any Deposit
(other than the date of the Final  Withdrawal),  the Escrow  Agent,  or the Pass
Through  Trustee  on behalf  of the  Escrow  Agent,  shall  re-deposit  with the
Depositary  any  portion  thereof  not used to acquire  Equipment  Notes and the
Depositary  shall  accept  the  same  for  deposit  hereunder.  On the  date the
Certificates are issued, the Escrow Agent, or the Underwriters, on behalf of the
Escrow Agent,  shall be entitled to deposit with the  Depositary  any portion of
the Net Proceeds not  theretofore  deposited  hereunder and not used to purchase
Equipment Notes on the Issuance Date (the "Unused  Proceeds") and the Depositary
shall accept the Unused Proceeds for deposit hereunder. Any sums so received for
deposit shall be established as a new Deposit and credited to a new Account, all
as more fully  provided in Section 2.1 hereof,  and thereafter the provisions of
this  Agreement  shall apply thereto as fully and with the same force and effect
as if such Deposit had been established on the Deposit Date except that (i) such

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Deposit  may  not  be  withdrawn   prior  to  the  date  seven  days  after  the
establishment  thereof and (ii) such  Deposit  shall  mature on October 31, 2001
(provided  that if a Labor  Strike  occurs  or  continues,  such  date  shall be
extended by the  Additional  Days) and bear interest as provided in Section 2.2.
The Depositary shall promptly give notice to the Escrow Agent of receipt of each
such re-deposit and the account number assigned thereto.

            SECTION 3. TERMINATION.  This Agreement shall terminate on the fifth
Business Day after the later of the date on which (i) all of the Deposits  shall
have been withdrawn and paid as provided  herein without any re-deposit and (ii)
all accrued and unpaid interest on the Deposits shall have been paid as provided
herein,  but in no event  prior to the date on which the  Depositary  shall have
performed in full its obligations hereunder.

            SECTION 4. PAYMENTS.  All payments  (including,  without limitation,
those  payments  made in respect of Taxes (as defined and  provided  for below))
made by the  Depositary  hereunder  shall be paid in United  States  Dollars and
immediately available funds by wire transfer (i) in the case of accrued interest
on the  Deposits  payable  under  Section  2.2  hereof or any Final  Withdrawal,
directly to the Paying Agent at Wilmington Trust Company,  Wilmington,  DE, ABA#
031100092 , Account No 51124-0,  Attention:  Monica Henry,  Telephone No.: (302)
651-8813, Reference: Continental 2000-1B, or to such other account as the Paying
Agent may direct from time to time in writing to the  Depositary  and the Escrow
Agent and (ii) in the case of any withdrawal of one or more Deposits pursuant to
a Notice of Purchase Withdrawal,  directly to or as directed by the Pass Through
Trustee as  specified  and in the manner  provided  in such  Notice of  Purchase
Withdrawal.  The  Depositary  hereby  waives  any and  all  rights  of  set-off,
combination of accounts,  right of retention or similar right  (whether  arising
under  applicable  law,  contract or otherwise) it may have against the Deposits
howsoever  arising.  All payments on or in respect of each Deposit shall be made
free and clear of and without  reduction for or on account of any and all taxes,
levies or other impositions or charges (collectively,  "TAXES"). However, if the
Depositary  or the Paying  Agent  (pursuant  to  Section  2.04 of the Escrow and
Paying Agent Agreement) shall be required by law to deduct or withhold any Taxes
from or in respect of any sum payable  hereunder,  the Depositary shall (i) make
such  deductions or  withholding,  (ii) pay the full amount deducted or withheld
(including  in respect of such  additional  amounts) to the  competent  taxation
authority and (iii) if the Taxes required to be deducted or withheld are imposed
by Switzerland or any political subdivision thereof, pay such additional amounts
as may be necessary in order that the actual amount  received by the  designated
recipient  of such sum under this  Agreement  or the  Escrow  and  Paying  Agent
Agreement  after  such  deduction  or  withholding  equals the sum it would have
received had no such  deduction or  withholding  been  required.  If the date on
which any payment due on any Deposit would  otherwise fall on a day which is not
a Business Day, such payment shall be made on the next succeeding  Business Day,
and no additional interest shall accrue in respect of such extension.

            SECTION 5.  REPRESENTATION  AND  WARRANTIES.  The Depositary  hereby
represents  and  warrants to  Continental,  the Escrow  Agent,  the Pass Through
Trustee and the Paying Agent that:

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                  (a) it is a bank duly  organized and validly  existing in good
      standing under the laws of its  jurisdiction of  organization  and is duly
      qualified to conduct banking business in the State of New York through its
      New York branch;

                  (b) it has full  power,  authority  and legal right to conduct
      its business and  operations as currently  conducted and to enter into and
      perform its obligations under this Agreement;

                  (c) the execution,  delivery and performance of this Agreement
      have been duly authorized by all necessary corporate action on the part of
      it and do not require any stockholder  approval, or approval or consent of
      any trustee or holder of any  indebtedness  or obligations of it, and such
      document has been duly  executed and delivered by it and  constitutes  its
      legal, valid and binding obligations  enforceable against it in accordance
      with the terms hereof;

                  (d) no  authorization,  consent or approval of or other action
      by, and no notice to or filing with,  any United  States  federal or state
      governmental  authority or regulatory  body is required for the execution,
      delivery or performance by it of this Agreement;

                  (e) neither the  execution,  delivery or  performance by it of
      this  Agreement,  nor  compliance  with the terms and  provisions  hereof,
      conflicts or will  conflict  with or results or will result in a breach or
      violation  of any of the  terms,  conditions  or  provisions  of,  or will
      require any  consent or  approval  under,  any law,  governmental  rule or
      regulation or the charter documents, as amended, or bylaws, as amended, of
      it or any similar instrument binding on it or any order, writ,  injunction
      or decree of any court or governmental authority against it or by which it
      or any of its properties is bound or any  indenture,  mortgage or contract
      or other  agreement or instrument to which it is a party or by which it or
      any of its  properties  is bound,  or  constitutes  or will  constitute  a
      default thereunder or results or will result in the imposition of any lien
      upon any of its properties; and

                  (f) there are no  pending  or,  to its  knowledge,  threatened
      actions, suits,  investigations or proceedings (whether or not purportedly
      on behalf of it) against or affecting it or any of its property  before or
      by any court or administrative agency which, if adversely determined,  (i)
      would adversely affect the ability of it to perform its obligations  under
      this  Agreement or (ii) would call into question or challenge the validity
      of this  Agreement or the  enforceability  hereof in  accordance  with the
      terms hereof,  nor is the  Depositary in default with respect to any order
      of any court, governmental authority,  arbitration board or administrative
      agency so as to  adversely  affect its ability to perform its  obligations
      under this Agreement.

            SECTION 6.  TRANSFER.  Neither  party  hereto  shall be  entitled to
assign or otherwise  transfer this Agreement (or any interest herein) other than
(in the case of the Escrow  Agent) to a successor  escrow agent under the Escrow
and Paying Agent Agreement,  and any purported  assignment in violation  thereof
shall be void. This Agreement shall be binding upon the parties hereto and their

<PAGE>

respective  successors and (in the case of the Escrow Agent) permitted  assigns.
Upon the  occurrence  of the Transfer  (as defined  below)  contemplated  by the
Assignment and Assumption Agreement (as defined below), the Pass Through Trustee
shall  (without  further  act) be deemed to have  transferred  all of its right,
title and  interest in and to this  Agreement  to the  trustee of the  Successor
Trust (as defined  below) and,  thereafter,  the trustee of the Successor  Trust
shall be deemed to be the "Pass Through  Trustee"  hereunder  with the rights of
the "Pass Through Trustee" hereunder,  and each reference herein to "Continental
Airlines  Pass  Through  Trust  2000-1B-O"  shall be deemed to be a reference to
"Continental  Airlines Pass Through Trust  2000-1B-S".  The Escrow Agent and the
Depositary  hereby  acknowledge and consent to the Transfer  contemplated by the
Assignment  and  Assumption  Agreement.  For the  purposes  of this  Section  6,
"TRANSFER"  means the transfer  contemplated  by the  Assignment  and Assumption
Agreement;  "ASSIGNMENT  AND  ASSUMPTION  AGREEMENT"  means the  Assignment  and
Assumption Agreement to be entered into between the Pass Through Trustee and the
trustee of the Successor  Trust,  substantially  in the form of Exhibit C to the
Pass Through  Trust  Agreement;  and  "SUCCESSOR  TRUST"  means the  Continental
Airlines Pass Through Trust 2000-1B-S.

            SECTION 7. AMENDMENT, ETC. This Agreement may not be amended, waived
or otherwise  modified  except by an instrument  in writing  signed by the party
against  whom the  amendment,  waiver  or other  modification  is  sought  to be
enforced and by the Pass Through Trustee.

            SECTION 8. NOTICES.  Unless otherwise expressly provided herein, any
notice  or  other  communication  under  this  Agreement  shall  be  in  writing
(including  by  facsimile)  and shall be deemed to be given and  effective  upon
receipt thereof. All notices shall be sent to (x) in the case of the Depositary,
Credit  Suisse  First  Boston,  11 Madison  Avenue,  New York,  New York  10010,
Attention:  Robert Finney and Janko Gogolja (Telecopier:  (212) 325-8319) or (y)
in the case of the Escrow Agent, First Security Bank, National  Association,  79
South Main Street, Third Floor, Salt Lake City, UT 84111,  Attention:  Corporate
Trust Services  (Telecopier:  (801) 246-5053),  in each case, with a copy to the
Pass Through  Trustee,  Wilmington  Trust  Company,  1100 North  Market  Street,
Wilmington,  DE 19890,  Attention:  Corporate Trust Administration  (Telecopier:
(302)  651-8882) and to  Continental,  Continental  Airlines,  Inc.,  1600 Smith
Street,   Dept.   HQS-FN,   Houston,   TX   77002,   Attention:    Senior   Vice
President-Finance  (Telecopier: (713) 324-2447) (or at such other address as any
such  party may  specify  from time to time in a written  notice to the  parties
hereto).  On or prior to the execution of this  Agreement,  the Escrow Agent has
delivered to the Depositary a certificate  containing specimen signatures of the
representatives  of the Escrow  Agent who are  authorized  to give  notices  and
instructions  with respect to this  Agreement.  The Depositary may  conclusively
rely on such certificate  until the Depositary  receives written notice from the
Escrow Agent to the contrary.

            SECTION  9.  OBLIGATIONS   UNCONDITIONAL.   The  Depositary   hereby
acknowledges  and agrees that its obligation to repay each Deposit together with
interest thereon as provided herein is absolute,  irrevocable and  unconditional
and constitutes a full recourse obligation of the Depositary enforceable against
it to the full extent of all of its assets and properties.

            SECTION  10.  ENTIRE  AGREEMENT.   This  Agreement   (including  all
attachments  hereto)  sets  forth all of the  promises,  covenants,  agreements,
conditions and  understandings  between the Depositary and the Escrow Agent with

<PAGE>

respect  to  the   subject   matter   hereof  and   supersedes   all  prior  and
contemporaneous agreements and undertakings,  inducements or conditions, express
or implied, oral or written.

            SECTION  11.  GOVERNING  LAW.  This  Agreement,  and the  rights and
obligations of the Depositary and the Escrow Agent with respect to the Deposits,
shall be governed by, and construed in accordance with, the laws of the State of
New York and subject to the provisions of Regulation D of the Board of Governors
of the Federal  Reserve System (or any  successor),  as the same may be modified
and supplemented and in effect from time to time.

            SECTION 12. WAIVER OF JURY TRIAL RIGHT.  EACH OF THE  DEPOSITARY AND
THE ESCROW AGENT ACKNOWLEDGES AND ACCEPTS THAT IN ANY SUIT, ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT SUCH PARTY  IRREVOCABLY  WAIVES ITS
RIGHT TO A TRIAL BY JURY.

            SECTION 13.  COUNTERPARTS.  This Agreement may be executed in one or
more counterparts, all of which taken together shall constitute one instrument.

            SECTION 14. HEAD  OFFICE  OBLIGATION.  Credit  Suisse  First  Boston
hereby  agrees that the  obligations  of the  Depositary  hereunder are also the
obligations of Credit Suisse First Boston's Head Office in Zurich,  Switzerland.
Accordingly,  any beneficiary of this Agreement will be able to proceed directly
against  Credit  Suisse First  Boston's  Head Office in Zurich,  Switzerland  if
Credit Suisse First Boston's New York branch  defaults in its obligation to such
beneficiary under this Agreement.

<PAGE>

            IN WITNESS WHEREOF,  the Escrow Agent and the Depositary have caused
this Deposit  Agreement  to be duly  executed as of the day and year first above
written.

                                          FIRST SECURITY BANK, NATIONAL
                                             ASSOCIATION,
                                             as Escrow Agent

                                          By___________________________________
                                            Name:
                                            Title:

                                          CREDIT SUISSE FIRST BOSTON, NEW
                                             YORK BRANCH
                                             as Depositary

                                          By___________________________________
                                            Name:
                                            Title:

                                          By___________________________________
                                            Name:
                                            Title:

<PAGE>

                                                                      Schedule I

                              SCHEDULE OF DEPOSITS
                                     Class B

             AIRCRAFT TYPE           DEPOSIT AMOUNT    ACCOUNT NO.
             _____________           ______________    ___________

             Boeing 737-824           4,166,991.26        202A1
             Boeing 737-824           4,166,991.26        203A1
             Boeing 737-824           4,011,284.86        204A1
             Boeing 737-824           4,011,284.86        205A1
             Boeing 737-824           4,011,284.86        206A1
             Boeing 737-824           3,977,559.55        207A1
             Boeing 737-824           3,977,559.55        208A1
             Boeing 737-824           4,763,426.41        251A1
             Boeing 737-824           4,763,426.41        252A1
             Boeing 737-824           4,763,426.41        253A1
             Boeing 737-824           4,763,426.41        254A1
             Boeing 737-824           3,841,716.90        255A1
             Boeing 737-824           3,841,716.90        256A1
             Boeing 737-824           3,852,730.96        257A1
             Boeing 757-224                      -          -
             Boeing 757-224                      -          -
             Boeing 757-224           5,962,500.00        141A1
             Boeing 767-424           8,851,921.97        401A1
             Boeing 767-424          10,387,933.30        402A1
             Boeing 767-424           8,746,965.89        403A1
             Boeing 767-424           8,439,052.24        404A1

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                                                                       EXHIBIT A

                          NOTICE OF PURCHASE WITHDRAWAL

CREDIT SUISSE FIRST BOSTON
New York Branch
11 Madison Avenue
New York, NY 10010
Attention:  Robert Finney and Janko Gogolja
Telecopier:  212-325-8319

Gentlemen:

            Reference  is made to the  Deposit  Agreement  (Class B) dated as of
March 15, 2000 (the "DEPOSIT  AGREEMENT")  between First Security Bank, National
Association,  as Escrow Agent, and Credit Suisse First Boston,  New York branch,
as Depositary (the "DEPOSITARY").

            In  accordance  with Section  2.3(a) of the Deposit  Agreement,  the
undersigned  hereby requests the withdrawal of the entire amount of the Deposit,
$_______, Account No. ____________.

            The undersigned hereby directs the Depositary to pay the proceeds of
the Deposit to [________________,  Account No. _____,  Reference:  _________] on
_________ __, 200__, upon the telephonic request of a representative of the Pass
Through Trustee.

                                          FIRST SECURITY BANK, NATIONAL
                                             ASSOCIATION,
                                             as Escrow Agent

                                          By__________________________________
                                            Name:
                                            Title:

Dated: _______ __, 200_

<PAGE>

                                                                       EXHIBIT B

                           NOTICE OF FINAL WITHDRAWAL

CREDIT SUISSE FIRST BOSTON
New York Branch
11 Madison Avenue
New York, NY 10010
Attention:  Robert Finney and Janko Gogolja
Telecopier:  212-325-8319

Gentlemen:

            Reference  is made to the  Deposit  Agreement  (Class B) dated as of
March 15, 2000 (the "DEPOSIT  AGREEMENT")  between First Security Bank, National
Association,  as Escrow Agent, and Credit Suisse First Boston,  New York branch,
as Depositary (the "DEPOSITARY").

            In  accordance  with Section  2.3(b) of the Deposit  Agreement,  the
undersigned hereby requests the withdrawal of the entire amount of all Deposits.

            The undersigned hereby directs the Depositary to pay the proceeds of
the Deposits  and accrued  interest  thereon to the Paying  Agent at  Wilmington
Trust Company, ABA# 031100092, Account No. _____________, Reference: Continental
2000-1B.

                                          FIRST SECURITY BANK, NATIONAL
                                             ASSOCIATION,
                                             as Escrow Agent

                                          By__________________________________
                                            Name:
                                            Title:

Dated: _________, 200_DEPOSIT AGREEMENT
                                   (Class C-1)

                           Dated as of March 15, 2000

                                     between

                    FIRST SECURITY BANK, NATIONAL ASSOCIATION

                                 as Escrow Agent

                                       and

                   CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH

                                  as Depositary

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

                                                                          PAGE
                                                                          ----

SECTION 1.1  Acceptance of Depositary........................................4

SECTION 2.1  Deposits........................................................4

SECTION 2.2  Interest........................................................4

SECTION 2.3  Withdrawals.....................................................4

SECTION 2.4  Other Accounts..................................................5

SECTION 3.  Termination......................................................6

SECTION 4.  Payments.........................................................6

SECTION 5.  Representation and Warranties....................................6

SECTION 6.  Transfer.........................................................7

SECTION 7.  Amendment, Etc...................................................8

SECTION 8.  Notices..........................................................8

SECTION 9.  Obligations Unconditional........................................8

SECTION 10.  Entire Agreement................................................8

SECTION 11.  Governing Law...................................................8

SECTION 12.  Waiver of Jury Trial Right......................................9

SECTION 13.  Counterparts....................................................9

SECTION 14.  Head Office Obligation..........................................9

<PAGE>

            DEPOSIT  AGREEMENT  (Class  C-1)  dated  as of  March  15,  2000 (as
amended,  modified or supplemented from time to time, this "AGREEMENT")  between
FIRST SECURITY BANK, NATIONAL  ASSOCIATION,  a national banking association,  as
Escrow Agent under the Escrow and Paying Agent  Agreement  referred to below (in
such  capacity,  together  with its  successors  in such  capacity,  the "ESCROW
AGENT"),  and CREDIT SUISSE FIRST BOSTON, a banking institution  organized under
the laws of Switzerland,  acting through its New York branch, as depositary bank
(the "DEPOSITARY").

                               W I T N E S S E T H
                               - - - - - - - - - -

            WHEREAS,  Continental Airlines, Inc.  ("CONTINENTAL") and Wilmington
Trust Company,  not in its  individual  capacity  except as otherwise  expressly
provided  therein,  but solely as trustee (in such  capacity,  together with its
successors in such  capacity,  the "PASS THROUGH  TRUSTEE")  have entered into a
Trust  Supplement,  dated as of  March  15,  2000,  to the  Pass  Through  Trust
Agreement  dated as of September  25, 1997  (together,  as amended,  modified or
supplemented  from time to time in accordance with the terms thereof,  the "PASS
THROUGH TRUST  AGREEMENT")  relating to Continental  Airlines Pass Through Trust
2000-1C-1-O  pursuant to which the  Continental  Airlines  Pass  Through  Trust,
Series 2000-1C-1-O  Certificates  referred to therein (the  "CERTIFICATES")  are
being issued (the date of such issuance, the "ISSUANCE DATE");

            WHEREAS,  Continental  and Credit  Suisse First Boston  Corporation,
Morgan Stanley & Co. Incorporated, Chase Securities Inc., Merrill Lynch, Pierce,
Fenner & Smith  Incorporated  and Salomon Smith Barney Inc.  (collectively,  the
"UNDERWRITERS"  and,  together with their respective  transferees and assigns as
registered  owners of the  Certificates,  the "INVESTORS")  have entered into an
Underwriting  Agreement  dated as of March 1,  2000  pursuant  to which the Pass
Through Trustee will issue and sell the Certificates to the Underwriters;

            WHEREAS,  Continental,  the Pass Through Trustee, certain other pass
through  trustees and certain other persons  concurrently  herewith are entering
into the  Note  Purchase  Agreement,  dated as of the  date  hereof  (the  "NOTE
PURCHASE  AGREEMENT"),  pursuant to which the Pass Through Trustee has agreed to
acquire from time to time on or prior to the Delivery  Period  Termination  Date
(as defined in the Note  Purchase  Agreement)  equipment  notes (the  "EQUIPMENT
NOTES") issued to finance the acquisition of aircraft by Continental,  as lessee
or as  owner,  utilizing  a  portion  of  the  proceeds  from  the  sale  of the
Certificates (the "NET PROCEEDS");

            WHEREAS,  the  Escrow  Agent,  the  Underwriters,  the Pass  Through
Trustee and Wilmington  Trust Company,  as paying agent for the Escrow Agent (in
such  capacity,  together  with its  successors  in such  capacity,  the "PAYING
AGENT")  concurrently  herewith  are  entering  into an Escrow and Paying  Agent
Agreement,  dated as of the date hereof (as  amended,  modified or  supplemented
from time to time in accordance  with the terms thereof,  the "ESCROW AND PAYING
AGENT AGREEMENT"); and

            WHEREAS,  the  Underwriters and the Pass Through Trustee intend that
the Net Proceeds  (excluding any amount used to purchase  Equipment Notes on the
Issuance  Date) be held in escrow by the Escrow Agent on behalf of the Investors

<PAGE>

pursuant to the Escrow and Paying Agent  Agreement,  subject to withdrawal  upon
request of and proper  certification by the Pass Through Trustee for the purpose
of purchasing Equipment Notes, and that pending such withdrawal the Net Proceeds
be deposited by the Escrow Agent with the Depositary pursuant to this Agreement,
which  provides  for the  Depositary  to pay interest  for  distribution  to the
Investors  and to  establish  accounts  from which the Escrow  Agent  shall make
withdrawals  upon  request  of and  proper  certification  by the  Pass  Through
Trustee.

            NOW,  THEREFORE,  in  consideration  of  the  obligations  contained
herein,  and  for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which is hereby acknowledged,  the parties hereto hereby agree as
follows:

            SECTION 1.1 ACCEPTANCE OF DEPOSITARY.  The Depositary  hereby agrees
to act as  depositary  bank as provided  herein and in  connection  therewith to
accept all amounts to be delivered to or held by the Depositary  pursuant to the
terms of this  Agreement.  The Depositary  further agrees to hold,  maintain and
safeguard  the Deposits and the Accounts (as defined  below)  during the term of
this Agreement in accordance with the provisions of this  Agreement.  The Escrow
Agent shall not have any right to withdraw,  assign or otherwise transfer moneys
held in the Accounts except as permitted by this Agreement.

            SECTION 2.1 DEPOSITS. The Escrow Agent shall direct the Underwriters
to deposit  with the  Depositary  on the date of this  Agreement  (the  "DEPOSIT
DATE") in Federal (same day) funds by official  check or checks or wire or other
transfer to: Credit Suisse First Boston, New York branch, Reference: Continental
2000-1C-1,  and the Depositary shall accept from the Underwriters,  on behalf of
the Escrow Agent, the sum of  US$70,619,000  (or such lesser amount equal to the
Net Proceeds less amounts used to purchase Equipment Notes on the Issuance Date.
Upon  acceptance of such sum, the  Depositary  shall (i)  establish  each of the
deposits  specified in Schedule I hereto maturing on October 31, 2001 (including
any deposit made pursuant to Section 2.4 hereof,  individually, a "DEPOSIT" and,
collectively,  the  "Deposits")  and (ii)  credit  each  Deposit to the  related
Account as set forth therein.  No amount shall be deposited in any Account other
than the related Deposit.

            SECTION 2.2  INTEREST.  Each Deposit  shall bear  interest  from and
including  the date of deposit to but  excluding  the date of  withdrawal at the
rate of 8.499%  per  annum  (computed  on the  basis of a year of twelve  30-day
months) payable to the Paying Agent on behalf of the Escrow Agent  semi-annually
in arrears on each May 1 and  November 1  commencing  on May 1, 2000  (each,  an
"INTEREST  PAYMENT DATE"),  and on the date of the Final  Withdrawal (as defined
below),  all in accordance with the terms of this Agreement  (whether or not any
such Deposit is withdrawn on an Interest Payment Date).  Interest accrued on any
Deposit  that is  withdrawn  pursuant  to a Notice of  Purchase  Withdrawal  (as
defined below) shall be paid on the next Interest Payment Date,  notwithstanding
any intervening Final Withdrawal (as defined below).

            SECTION 2.3 WITHDRAWALS.  (a) On and after the date seven days after
the  establishment  of any Deposit,  the Escrow Agent may, by providing at least
one Business  Day's prior notice of withdrawal to the  Depositary in the form of
Exhibit A hereto (a "NOTICE OF PURCHASE WITHDRAWAL"), withdraw not less than the

<PAGE>

entire  balance  of such  Deposit,  except  that at any time prior to the actual
withdrawal of such Deposit, the Escrow Agent or the Pass Through Trustee may, by
notice to the  Depositary,  cancel such  withdrawal  (including on the scheduled
date  therefor),  and thereafter such Deposit shall continue to be maintained by
the Depositary in accordance  with the original  terms  thereof.  Following such
withdrawal  the balance in the related  Account shall be zero and the Depositary
shall close such Account.  As used herein,  "BUSINESS  DAY" means any day, other
than a Saturday, Sunday or other day on which commercial banks are authorized or
required  by law to close in New York,  New York,  Houston,  Texas,  Wilmington,
Delaware or Salt Lake City, Utah.

            (b) The  Escrow  Agent may,  by  providing  at least 15 days'  prior
notice  of  withdrawal  to the  Depositary  in the form of  Exhibit  B hereto (a
"Notice  of  Final  Withdrawal"),  withdraw  the  entire  amount  of  all of the
remaining  Deposits  together with the payment by the  Depositary of all accrued
and unpaid  interest on such Deposits to but  excluding  the  specified  date of
withdrawal  (a "Final  Withdrawal"),  on such date as shall be specified in such
Notice of Final  Withdrawal.  If a Notice of Final Withdrawal has not been given
to the Depositary on or before October 8, 2001 (provided that, if a labor strike
occurs or continues at The Boeing  Company  after the Issuance Date and prior to
September  30,  2001 (a "Labor  Strike"),  such date shall be extended by adding
thereto  the  number of days  that such  strike  continued  in effect  after the
Issuance Date (the "Additional Days") and there are unwithdrawn Deposits on such
date, the Depositary  shall pay the amount of the Final Withdrawal to the Paying
Agent on October 31, 2001  (provided that if a Labor Strike occurs or continues,
such date shall be extended by the Additional Days).

            (c) If the Depositary  receives a duly completed  Notice of Purchase
Withdrawal or Notice of Final  Withdrawal  complying with the provisions of this
Agreement,  it shall make the payments  specified therein in accordance with the
provisions of this Agreement.

            SECTION 2.4 OTHER ACCOUNTS. On the date of withdrawal of any Deposit
(other than the date of the Final  Withdrawal),  the Escrow  Agent,  or the Pass
Through  Trustee  on behalf  of the  Escrow  Agent,  shall  re-deposit  with the
Depositary  any  portion  thereof  not used to acquire  Equipment  Notes and the
Depositary  shall  accept  the  same  for  deposit  hereunder.  On the  date the
Certificates are issued, the Escrow Agent, or the Underwriters, on behalf of the
Escrow Agent,  shall be entitled to deposit with the  Depositary  any portion of
the Net Proceeds not  theretofore  deposited  hereunder and not used to purchase
Equipment Notes on the Issuance Date (the "Unused  Proceeds") and the Depositary
shall accept the Unused Proceeds for deposit hereunder. Any sums so received for
deposit shall be established as a new Deposit and credited to a new Account, all
as more fully  provided in Section 2.1 hereof,  and thereafter the provisions of
this  Agreement  shall apply thereto as fully and with the same force and effect
as if such Deposit had been established on the Deposit Date except that (i) such
Deposit  may  not  be  withdrawn   prior  to  the  date  seven  days  after  the
establishment  thereof and (ii) such  Deposit  shall  mature on October 31, 2001
(provided  that if a Labor  Strike  occurs  or  continues,  such  date  shall be
extended by the  Additional  Days) and bear interest as provided in Section 2.2.
The Depositary shall promptly give notice to the Escrow Agent of receipt of each
such re-deposit and the account number assigned thereto.

<PAGE>

            SECTION 3. TERMINATION.  This Agreement shall terminate on the fifth
Business Day after the later of the date on which (i) all of the Deposits  shall
have been withdrawn and paid as provided  herein without any re-deposit and (ii)
all accrued and unpaid interest on the Deposits shall have been paid as provided
herein,  but in no event  prior to the date on which the  Depositary  shall have
performed in full its obligations hereunder.

            SECTION 4. PAYMENTS.  All payments  (including,  without limitation,
those  payments  made in respect of Taxes (as defined and  provided  for below))
made by the  Depositary  hereunder  shall be paid in United  States  Dollars and
immediately available funds by wire transfer (i) in the case of accrued interest
on the  Deposits  payable  under  Section  2.2  hereof or any Final  Withdrawal,
directly to the Paying Agent at Wilmington Trust Company,  Wilmington,  DE, ABA#
031100092 , Account No 51125-0,  Attention:  Monica Henry,  Telephone No.: (302)
651-8813,  Reference:  Continental  2000-1C-1,  or to such other  account as the
Paying Agent may direct from time to time in writing to the  Depositary  and the
Escrow  Agent  and (ii) in the case of any  withdrawal  of one or more  Deposits
pursuant to a Notice of Purchase  Withdrawal,  directly to or as directed by the
Pass Through  Trustee as specified and in the manner  provided in such Notice of
Purchase Withdrawal. The Depositary hereby waives any and all rights of set-off,
combination of accounts,  right of retention or similar right  (whether  arising
under  applicable  law,  contract or otherwise) it may have against the Deposits
howsoever  arising.  All payments on or in respect of each Deposit shall be made
free and clear of and without  reduction for or on account of any and all taxes,
levies or other impositions or charges (collectively,  "TAXES"). However, if the
Depositary  or the Paying  Agent  (pursuant  to  Section  2.04 of the Escrow and
Paying Agent Agreement) shall be required by law to deduct or withhold any Taxes
from or in respect of any sum payable  hereunder,  the Depositary shall (i) make
such  deductions or  withholding,  (ii) pay the full amount deducted or withheld
(including  in respect of such  additional  amounts) to the  competent  taxation
authority and (iii) if the Taxes required to be deducted or withheld are imposed
by Switzerland or any political subdivision thereof, pay such additional amounts
as may be necessary in order that the actual amount  received by the  designated
recipient  of such sum under this  Agreement  or the  Escrow  and  Paying  Agent
Agreement  after  such  deduction  or  withholding  equals the sum it would have
received had no such  deduction or  withholding  been  required.  If the date on
which any payment due on any Deposit would  otherwise fall on a day which is not
a Business Day, such payment shall be made on the next succeeding  Business Day,
and no additional interest shall accrue in respect of such extension.

            SECTION 5.  REPRESENTATION  AND  WARRANTIES.  The Depositary  hereby
represents  and  warrants to  Continental,  the Escrow  Agent,  the Pass Through
Trustee and the Paying Agent that:

                  (a) it is a bank duly  organized and validly  existing in good
      standing under the laws of its  jurisdiction of  organization  and is duly
      qualified to conduct banking business in the State of New York through its
      New York branch;

                  (b) it has full  power,  authority  and legal right to conduct
      its business and  operations as currently  conducted and to enter into and
      perform its obligations under this Agreement;

<PAGE>

                  (c) the execution,  delivery and performance of this Agreement
      have been duly authorized by all necessary corporate action on the part of
      it and do not require any stockholder  approval, or approval or consent of
      any trustee or holder of any  indebtedness  or obligations of it, and such
      document has been duly  executed and delivered by it and  constitutes  its
      legal, valid and binding obligations  enforceable against it in accordance
      with the terms hereof;

                  (d) no  authorization,  consent or approval of or other action
      by, and no notice to or filing with,  any United  States  federal or state
      governmental  authority or regulatory  body is required for the execution,
      delivery or performance by it of this Agreement;

                  (e) neither the  execution,  delivery or  performance by it of
      this  Agreement,  nor  compliance  with the terms and  provisions  hereof,
      conflicts or will  conflict  with or results or will result in a breach or
      violation  of any of the  terms,  conditions  or  provisions  of,  or will
      require any  consent or  approval  under,  any law,  governmental  rule or
      regulation or the charter documents, as amended, or bylaws, as amended, of
      it or any similar instrument binding on it or any order, writ,  injunction
      or decree of any court or governmental authority against it or by which it
      or any of its properties is bound or any  indenture,  mortgage or contract
      or other  agreement or instrument to which it is a party or by which it or
      any of its  properties  is bound,  or  constitutes  or will  constitute  a
      default thereunder or results or will result in the imposition of any lien
      upon any of its properties; and

                  (f) there are no  pending  or,  to its  knowledge,  threatened
      actions, suits,  investigations or proceedings (whether or not purportedly
      on behalf of it) against or affecting it or any of its property  before or
      by any court or administrative agency which, if adversely determined,  (i)
      would adversely affect the ability of it to perform its obligations  under
      this  Agreement or (ii) would call into question or challenge the validity
      of this  Agreement or the  enforceability  hereof in  accordance  with the
      terms hereof,  nor is the  Depositary in default with respect to any order
      of any court, governmental authority,  arbitration board or administrative
      agency so as to  adversely  affect its ability to perform its  obligations
      under this Agreement.

            SECTION 6.  TRANSFER.  Neither  party  hereto  shall be  entitled to
assign or otherwise  transfer this Agreement (or any interest herein) other than
(in the case of the Escrow  Agent) to a successor  escrow agent under the Escrow
and Paying Agent Agreement,  and any purported  assignment in violation  thereof
shall be void. This Agreement shall be binding upon the parties hereto and their
respective  successors and (in the case of the Escrow Agent) permitted  assigns.
Upon the  occurrence  of the Transfer  (as defined  below)  contemplated  by the
Assignment and Assumption Agreement (as defined below), the Pass Through Trustee
shall  (without  further  act) be deemed to have  transferred  all of its right,
title and  interest in and to this  Agreement  to the  trustee of the  Successor
Trust (as defined  below) and,  thereafter,  the trustee of the Successor  Trust
shall be deemed to be the "Pass Through  Trustee"  hereunder  with the rights of
the "Pass Through Trustee" hereunder,  and each reference herein to "Continental

<PAGE>

Airlines  Pass Through Trust  2000-1C-1-O"  shall be deemed to be a reference to
"Continental Airlines Pass Through Trust 2000-1C-1-S".  The Escrow Agent and the
Depositary  hereby  acknowledge and consent to the Transfer  contemplated by the
Assignment  and  Assumption  Agreement.  For the  purposes  of this  Section  6,
"TRANSFER"  means the transfer  contemplated  by the  Assignment  and Assumption
Agreement;  "ASSIGNMENT  AND  ASSUMPTION  AGREEMENT"  means the  Assignment  and
Assumption Agreement to be entered into between the Pass Through Trustee and the
trustee of the Successor  Trust,  substantially  in the form of Exhibit C to the
Pass Through  Trust  Agreement;  and  "SUCCESSOR  TRUST"  means the  Continental
Airlines Pass Through Trust 2000-1C-1-S.

            SECTION 7. AMENDMENT, ETC. This Agreement may not be amended, waived
or otherwise  modified  except by an instrument  in writing  signed by the party
against  whom the  amendment,  waiver  or other  modification  is  sought  to be
enforced and by the Pass Through Trustee.

            SECTION 8. NOTICES.  Unless otherwise expressly provided herein, any
notice  or  other  communication  under  this  Agreement  shall  be  in  writing
(including  by  facsimile)  and shall be deemed to be given and  effective  upon
receipt thereof. All notices shall be sent to (x) in the case of the Depositary,
Credit  Suisse  First  Boston,  11 Madison  Avenue,  New York,  New York  10010,
Attention:  Robert Finney and Janko Gogolja (Telecopier:  (212) 325-8319) or (y)
in the case of the Escrow Agent, First Security Bank, National  Association,  79
South Main Street, Third Floor, Salt Lake City, UT 84111,  Attention:  Corporate
Trust Services  (Telecopier:  (801) 246-5053),  in each case, with a copy to the
Pass Through  Trustee,  Wilmington  Trust  Company,  1100 North  Market  Street,
Wilmington,  DE 19890,  Attention:  Corporate Trust Administration  (Telecopier:
(302)  651-8882) and to  Continental,  Continental  Airlines,  Inc.,  1600 Smith
Street,   Dept.   HQS-FN,   Houston,   TX   77002,   Attention:    Senior   Vice
President-Finance  (Telecopier: (713) 324-2447) (or at such other address as any
such  party may  specify  from time to time in a written  notice to the  parties
hereto).  On or prior to the execution of this  Agreement,  the Escrow Agent has
delivered to the Depositary a certificate  containing specimen signatures of the
representatives  of the Escrow  Agent who are  authorized  to give  notices  and
instructions  with respect to this  Agreement.  The Depositary may  conclusively
rely on such certificate  until the Depositary  receives written notice from the
Escrow Agent to the contrary.

            SECTION  9.  OBLIGATIONS   UNCONDITIONAL.   The  Depositary   hereby
acknowledges  and agrees that its obligation to repay each Deposit together with
interest thereon as provided herein is absolute,  irrevocable and  unconditional
and constitutes a full recourse obligation of the Depositary enforceable against
it to the full extent of all of its assets and properties.

            SECTION  10.  ENTIRE  AGREEMENT.   This  Agreement   (including  all
attachments  hereto)  sets  forth all of the  promises,  covenants,  agreements,
conditions and  understandings  between the Depositary and the Escrow Agent with
respect  to  the   subject   matter   hereof  and   supersedes   all  prior  and
contemporaneous agreements and undertakings,  inducements or conditions, express
or implied, oral or written.

            SECTION  11.  GOVERNING  LAW.  This  Agreement,  and the  rights and
obligations of the Depositary and the Escrow Agent with respect to the Deposits,

<PAGE>

shall be governed by, and construed in accordance with, the laws of the State of
New York and subject to the provisions of Regulation D of the Board of Governors
of the Federal  Reserve System (or any  successor),  as the same may be modified
and supplemented and in effect from time to time.

            SECTION 12. WAIVER OF JURY TRIAL RIGHT.  EACH OF THE  DEPOSITARY AND
THE ESCROW AGENT ACKNOWLEDGES AND ACCEPTS THAT IN ANY SUIT, ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT SUCH PARTY  IRREVOCABLY  WAIVES ITS
RIGHT TO A TRIAL BY JURY.

            SECTION 13.  COUNTERPARTS.  This Agreement may be executed in one
or more counterparts, all of which taken together shall constitute one
instrument.

            SECTION 14. HEAD  OFFICE  OBLIGATION.  Credit  Suisse  First  Boston
hereby  agrees that the  obligations  of the  Depositary  hereunder are also the
obligations of Credit Suisse First Boston's Head Office in Zurich,  Switzerland.
Accordingly,  any beneficiary of this Agreement will be able to proceed directly
against  Credit  Suisse First  Boston's  Head Office in Zurich,  Switzerland  if
Credit Suisse First Boston's New York branch  defaults in its obligation to such
beneficiary under this Agreement.

<PAGE>

            IN WITNESS WHEREOF,  the Escrow Agent and the Depositary have caused
this Deposit  Agreement  to be duly  executed as of the day and year first above
written.

                                    FIRST SECURITY BANK, NATIONAL ASSOCIATION,
                                       as Escrow Agent

                                    By _________________________________________
                                       Name:
                                       Title:

                                    CREDIT SUISSE FIRST BOSTON, NEW YORK
                                       BRANCH
                                       as Depositary

                                    By _________________________________________
                                       Name:
                                       Title:

                                    By _________________________________________
                                       Name:
                                       Title:

<PAGE>

                                                                      Schedule I

                              SCHEDULE OF DEPOSITS
                              --------------------
                                    Class C-1

   AIRCRAFT TYPE       DEPOSIT AMOUNT        ACCOUNT NO.
   -------------       --------------        -----------

   Boeing 737-824        3,628,567.87           202A1
   Boeing 737-824        3,628,567.87           203A1
   Boeing 737-824        3,528,398.34           204A1
   Boeing 737-824        3,528,398.34           205A1
   Boeing 737-824        3,528,398.34           206A1
   Boeing 737-824        3,562,173.78           207A1
   Boeing 737-824        3,562,173.78           208A1
   Boeing 737-824        2,250,890.79           251A1
   Boeing 737-824        2,250,890.79           252A1
   Boeing 737-824        2,250,890.79           253A1
   Boeing 737-824        2,250,890.79           254A1
   Boeing 737-824        3,180,842.92           255A1
   Boeing 737-824        3,180,842.92           256A1
   Boeing 737-824        3,030,747.07           257A1
   Boeing 757-224                   -            -
   Boeing 757-224                   -            -
   Boeing 757-224        1,073,250.00           141A1
   Boeing 767-424        8,078,047.18           401A1
   Boeing 767-424        2,142,662.51           402A1
   Boeing 767-424        7,137,318.60           403A1
   Boeing 767-424        6,692,443.32           404A1

<PAGE>

                                                                       EXHIBIT A

                          NOTICE OF PURCHASE WITHDRAWAL

CREDIT SUISSE FIRST BOSTON
New York Branch
11 Madison Avenue
New York, NY 10010
Attention:  Robert Finney and Janko Gogolja
Telecopier:  212-325-8319

Gentlemen:

            Reference is made to the Deposit  Agreement  (Class C-1) dated as of
March 15, 2000 (the "DEPOSIT  AGREEMENT")  between First Security Bank, National
Association,  as Escrow Agent, and Credit Suisse First Boston,  New York branch,
as Depositary (the "DEPOSITARY").

            In  accordance  with Section  2.3(a) of the Deposit  Agreement,  the
undersigned  hereby requests the withdrawal of the entire amount of the Deposit,
$_______, Account No. ____________.

            The undersigned hereby directs the Depositary to pay the proceeds
of the Deposit to [________________, Account No. _____, Reference:
_________] on _________ __, 200__, upon the telephonic request of a
representative of the Pass Through Trustee.

                                    FIRST SECURITY BANK, NATIONAL ASSOCIATION,
                                       as Escrow Agent

                                    By__________________________________________
                                      Name:
                                      Title:
Dated: _______ __, 200_

<PAGE>

                                                                       EXHIBIT B

                           NOTICE OF FINAL WITHDRAWAL

CREDIT SUISSE FIRST BOSTON
New York Branch
11 Madison Avenue
New York, NY 10010
Attention:  Robert Finney and Janko Gogolja
Telecopier:  212-325-8319

Gentlemen:

            Reference is made to the Deposit  Agreement  (Class C-1) dated as of
March 15, 2000 (the "DEPOSIT  AGREEMENT")  between First Security Bank, National
Association,  as Escrow Agent, and Credit Suisse First Boston,  New York branch,
as Depositary (the "DEPOSITARY").

            In  accordance  with Section  2.3(b) of the Deposit  Agreement,  the
undersigned hereby requests the withdrawal of the entire amount of all Deposits.

            The undersigned hereby directs the Depositary to pay the proceeds of
the Deposits  and accrued  interest  thereon to the Paying  Agent at  Wilmington
Trust Company, ABA# 031100092, Account No. _____________, Reference: Continental
2000-1C-1.

                                    FIRST SECURITY BANK, NATIONAL ASSOCIATION,
                                       as Escrow Agent

                                    By__________________________________________
                                      Name:
                                      Title:
Dated: _________, 200_

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