X0303 4 2008-10-15 0 0001092807 ALPINE AIR EXPRESS INC/DE APNX.OB 0001160802 MALLETTE EUGENE 1177 ALPINE AIR WAY PROVO UT 84601 1 1 1 0 CEO Common Stock 2008-10-09 4 P 0 110000 0.2 A 52309798 D Common Stock 2008-10-09 4 P 0 5000 0.25 A 52314798 D Common Stock 2008-10-09 4 P 0 5000 0.18 A 52319798 D Common Stock 2008-10-10 4 P 0 5000 0.25 A 52324798 D Common Stock 2008-10-13 4 P 0 5000 0.3 A 52329798 D Common Stock 2008-10-17 4 P 0 5000 0.2 A 52334798 D Common Stock 2008-10-20 4 P 0 5000 0.2 A 52339798 D Mallette Holdings, LLLP ("Mallette Holdings") acquired 1,000,000 shares of Series A 6.5% Preferred Stock of Alpine Air Express, Inc. ("Alpine Air Express") in exchange for 1,000,000 shares of Series A 6.5% Preferred Stock of Alpine Aviation, Inc. ("Alpine Aviation"), a wholly-owned subsidiary of Alpine Air Express. The Alpine Air Express Series A 6.5% Preferred Stock is convertible into common stock of Alpine Air Express and assuming a conversion today 42,485,333 shares could be acquired based on the closing market price of Alpine Air Express common stock on the OTCBB on October 24, 2008. Mallette Holdings is a limited partnership of which Mallette Management, LLC is the managing partner, which is wholly owned by Eugene R. Mallette. Mr. Mallette owns 100% interest in Mallette Management, LLC. The number of shares beneficially owned can increase, or decrease, depending on the closing market price on the day prior to conversion. Mr. Mallette owns 25.75% of the beneficial interest in Mallette Holdings, LLLP. /e/ Eugene R. Mallette 2008-10-27